Final authority in co-operative society

The final authority in a co-operative society shall vest in the general body of members in a general meeting: Provided that where the bye-laws of a co-operative society provide for the constitution of a 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 powers of the general body as may be prescribed or as may be specified in the bye-laws of the society but shall not have the power to conduct election of managing committee and to amend the bye-laws: Provided further that nothing in this section shall affect any powers conferred on a committee or any officer of a co-operative society by the rules or the bye-laws.