Appointment or removal of Managing Director or Chief Executive Officer to be approved

(1) No Managing Director or Chief Executive Officer of such society or a society falling within such class of societies as the State Government may, by notification in the Official Gazette, specify (hereinafter in this section referred to as “the notified society”), or person exercising the powers and performing the functions and duties of the Managing Director or Chief Executive Officer of such notified society whatever designation known shall be appointed or removed by such notified society except with the previous approval of the Registrar.

(2) Any appointment or removal of a Managing Director or a Chief Executive Officer or a person exercising the powers and performing the functions and duties of such Director or officer made without the previous approval of the Registrar shall be void.