Annual general meeting

The Dadra and Nagar Haveli and Daman and Diu Co-Operative Societies Regulation, 2024

Corporate2024155 sections12 chapters

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Chapter VII MANAGEMENT OF SOCIETIES

Statutory text

(1) Every society shall convene the general meeting of its members within a period of six months of closure of the financial year to transact the business as provided under this Regulation: Provided that if such meeting is not called by the society within such period, the Registrar or any person authorised by him in that behalf may in the prescribed manner, call such meeting which shall be deemed to be a general meeting duly called by the society.
(2) At every annual general meeting of a society, the Committee shall lay before the society a balance sheet and profit and loss account for the year in such manner as may be prescribed. Explanation.—For the purposes of this section, it is hereby clarified that, in the case of a society not carrying on business for profit, an income and expenditure account shall be placed before the society at the annual general meeting instead of profit and loss account; and all references to profit and loss account, and to “profit” or loss in this Regulation, shall be construed in relation to such society as references respectively to the “excess of income over expenditure” and “excess of expenditure over income”.
(3) There shall be attached to every balance sheet laid before the society in general meeting, a report by its Committee, with respect to—
- (a) the state of the society’s affairs;
- (b) the amounts, if any, which it proposes to carry to any reserve either in such balance sheet, or any specific balance sheet; and
- (c) the amounts, if any, which it recommends for payment by way of dividend, bonus, or honoraria to honorary workers.
(4) The Committee’s report shall also deal in any changes in the nature of the society’s business which have occurred during the year for which the accounts are drawn up and such report shall be signed by its Chairperson, or any other member authorised to sign on behalf of the Committee.
(5) At every annual general meeting, the balance sheet, the profit and loss account, the auditor’s report and the Committee’s report, shall be placed for adoption, and such other business shall be transacted as may be laid down in the bye-laws and of which due notice has been given.
(6) Where any officer of the society, whose duty was to call a general meeting within the period specified in sub-section (1) or to comply with sub-sections (2), (3) or (4) fails without reasonable cause to call such meeting or to comply with such sub-sections, then—
- (i) if such officer is a servant of the society, the Registrar may by an order in writing impose on him such penalty as is referred to in section 127; and
- (ii) if such officer is not a servant of the society, the Registrar may by an order in writing impose such liability as is referred to in section 127.

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