section 70
Chief Executive Officer
The Dadra and Nagar Haveli and Daman and Diu Co-Operative Societies Regulation, 2024Corporate2024155 sections12 chapters
Chapter VII MANAGEMENT OF SOCIETIES
Statutory text
- (1) There shall be a Chief Executive Officer, by whatever designation called, of every society to be appointed by the Committee and he shall be a full-time employee of such society.
- (2) No society shall appoint or continue the employment of any person as the Chief Executive officer who—
- (a) is below the age of twenty-one years or has attained the age of seventy years: Provided that any person above the age of seventy years may be appointed by a special resolution passed by three-fourths majority of the Committee members, in which case the explanatory statement annexed to the notice for such motion shall indicate the justification for appointing such person;
- (b) is an undischarged insolvent or has any time been adjudged as an insolvent;
- (c) has at any time been convicted by a court of an offence and sentenced for a period of more than six months; or
- (d) does not meet the criteria for “fit and proper”, as determined by the Registrar in case of credit societies or in case of non-credit societies, does not meet the criteria as the Registrar may prescribe in terms of educational qualifications and relevant experience.
- (3) The Chief Executive Officer shall be a member of the Managing Committee and of such other Committees or Sub-Committees as may be constituted.
- (4) Where the Central Government or the Administration holds fifty-one per cent. or more equity share capital or of total shares of the society, the salary and allowances payable to and other terms and conditions of service including pension, gratuity and other retirement benefits of the Chief Executive Officer shall be such as may be prescribed.
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