Final authority and its meetings

(1) The final authority in a co-operative society shall vest in the general body of the members : Provided that where the bye-laws of a co-operative society provide for the constitution of smaller body consisting of delegates of members of the society elected or selected in accordance with such bye-laws, the smaller body shall exercise such power of general body as may be prescribed or as may be specified in the bye-laws of the society. (2) Notwithstanding anything contained in section 21, each delegate shall have one vote in the affairs of the society. (3) A general meeting of a co-operative society shall be held within a period of six months of close of the financial year for the purpose of – (a) approval of the programme of the activities of the society prepared by the committee for the ensuing year; (b) consideration of the audit report and the annual report; (c) review of the performance of the preceeding year; (d) review of the state of affairs of the society including list of defaulters along with amount of default; (e) creation of specific reserves and other funds and utilization thereof; (f) consideration of list of employees who are relatives of office bearers of the society; (g) conduct of election of the managing committee, when due; (h) amendment of bye-laws; (ha) appointment of auditor or auditing firm from the panel prepared by the State Government or authority authorised by the State Government; (i) consideration of any other matter in accordance with bye-laws: Provided that nothing in this sub-section shall affect any powers conferred on a committee or any office bearer of a society under the rules or the bye-laws framed under this Act.