Definitions

(37) “special resolution” means a resolution of the general body which has the approval of at least 51% of all the members with right of vote at the time of the general meeting ; (1) Every cooperative shall record, in the language specified by the articles of association, in the minutes book, minutes of all proceedings of every board meeting and send the copy of the minutes within seven days of the conclusion of every such meeting to all directors. (2) The minutes so recorded shall be signed by the person who chaired the said meeting or by the person who chairs the following meeting, wherein the minutes are confirmed. (3) The minutes so recorded shall be deemed to have been confirmed on the fifteenth day after its dispatch to all directors, if no comments on the correctness or otherwise of the minutes are received from directors within that time : Provided that where comments have been received from directors, corrections, if any, will be made by the board when the said minutes are placed before the next meeting of the board for confirmation.