Term of office

bye-laws provide for retirement of directors by rotation, the term of office of the individual director, shall be for such period as specified in the bye-laws but shall not exceed 1[five years form the date of assumption of office: Provided that the term of office can be terminated by the general body at is meeting by a majority of members with right of vote; Provided further that the first board shall not exceed twelve months from the date of registration of the Cooperative Society.