General Body

(1) Subject to the provisions of this Act and the bye-laws the ultimate authority of a Cooperative Society shall vest in its general body. (2) Where a Cooperative Society so desires, its bye-laws may provide for a representative general body drawn from the members to be constituted in such a manner and with such functions as specified in the bye-laws: Provided that the representative general body shall not have the right to amend the bye-laws of the Cooperative Society except those in relation to which the bye-laws have delegated the power of amendment to the representative general body. (3) Subject to the provisions of this Act, and of the bye-laws the following matters shall be dealt with by the general body (a) election of directors of the board, (b) removal of directors of the board and filling up of vacancies, (c) consideration of the annual report presented by the board for being filed with the Registrar, (d) appointment and removal of statutory auditors and internal auditors, (e) consideration of the auditor's report and audited statement of accounts for being filed with the Registrar, (f) consideration of audit/special audit compliance report, (g) report on action taken on inquiry report under section 36, if any, (h) disposal of net surplus, (i) review of operational deficit, if any, (j) approval of the long term perspective plan and the annual operational plan, (k) approval of the annual budget, (l) creation of specific reserves and other funds, (m) review of actual utilisation of reserve and other funds, (n) report on membership of the Cooperative Society in other Cooperative Societies, (o) review of annual report and accounts of any subsidiary organisation, 7. In the said Act section - 25 shall be amended as follows, namely – (a) Sub-section (1) shall be substituted by the following, namely - “(1) Subject to the provisions of this Act and the bye-laws the ultimate authority of a Co- operative Society shall vest in its general body. Board of every Co-operative Society shall convene annual general meeting within six months from the closure of financial year, which shall deal with all or any matter dealt with subsection (3) except those in relation to the election of members and office- bearer of the Board.” (b) Sub section (3)(a) and (b) shall be deleted.