Powers and functions of the board

(1) The board shall in accordance with the bye-laws, be the authority to (a) admit and terminate membership, (b) elect the Chair-person and other office-bearers, (c) remove from office the chair-person and other office-bearers, (d) appoint and remove the chief executive, (e) fix staff strength, (f) frame policies concerning (i) organisation and provision of services to members, (ii) qualifications, recruitment, service conditions and other matters related to its employees, (iii) mode of custody and investment of funds, (iv) manner of keeping accounts, (v) mobilization, utilisation and investment of various funds, (vi) monitoring and management of information system including statutory returns to be filed, (vii) such other subjects and matters necessary for the effective performance of the Cooperative Society. (g) place the annual report, annual financial statements, annual plan and budget for the approval of the general body, (h) consider audit and compliance reports and place these before the general body, (i) review membership in other Cooperative Societies, (j) undertake such other functions as delegated by the general body. (2) The chair-person shall be elected by the board from among the elected members and shall, in accordance with the bye-laws (a) preside at meetings of the board and the general body meetings, (b) have a second vote in the event of equality of votes on any matter being decided upon by the board except in matter of election, (c) exercise such other powers as delegated by the board specified in the policies framed or resolutions adopted by the board.