Amendment of section 29A

It is proposed to amend Section 29A by omitting the word 'elected' so as to have a clear understanding regarding the term of office of the members of the Committee. (1) The term of office of the members of the board shall commence on the date on which the majority of the elected members of the board assume office or the term of the out going board expires, whichever is later. (2) Notwithstanding anything contained in this Act or the rules or the bye-laws of a co-operative society, the board shall be deemed to be duly constituted when the majority of the elected members of the board are available to function as members of the board after the election. (3) The board deemed to be constituted under sub-section (2) shall be competent to exercise all the powers and perform all the functions of the board of the co-operative society. (4) [Omitted] (5) [Omitted] (6) [Omitted] (4) [Content for (f)-(k) and (4A)-(4C) continues from previous context] (f) preparation and timely submission of periodical statements and returns in accordance with the provisions of the Act, rules and bye-laws and as directed by the Registrar or the Director of Co-operative Audit; (g) be responsible for convening the meeting of the general body, the board of management and the sub-board in consultation with the President or Chairperson and recording and maintaining minutes of such meetings; (h) assist the board in the formulation of policies and objectives and planning; (i) provide necessary information to the board and apprise the board the functions and operations of the society; (j) sue and be sued on behalf of the co-operative society; (k) perform such other duties and exercise such other powers imposed or conferred on him under the Act, rules or bye laws. (4A) The Chief Executive shall have right to attend every meeting of the society and the board thereof and to take part in the decision and to move any resolution. (4-B): Notwithstanding anything contained in this Act or the Rules or the byelaws of a cooperative society, the Chief Executive shall be a member of the board of the cooperative society. (4C) The Chief Executive of a Cooperative Society shall not have a right to vote in the election of the office bearers of the board. (5) In addition to the powers and duties specified in sub-section (4), the Chief Executive of an Apex Society,— (a) shall have power to appoint with the approval of the board and subject to the provisions of the Act, rules and the bye-laws, necessary staff; (b) shall specify the powers, functions and duties of the employees of the society; (c) may conduct, defend, compound or abandon any suit or legal proceeding instituted by or against the society or otherwise concerning the affairs of the society and also allow in consultation with the President or Chairperson, reasonable time for payment or satisfaction of any claims or demand by or against the society; (d) may subject to the guidelines issued by the board enter into negotiations and execute contracts; (e) may delegate any of his powers to any employee. (6) In respect of primary co-operative societies, the Chief Executive shall send a copy of the receipt and payment account duly certified by him every month to the Registrar and the financing bank or credit agency within fifteen days of the next following month. He shall also send a certified copy of the proceedings of the General Meetings and of the board meetings to the Registrar and financing bank or credit agency within fifteen days from the date of such meetings.