Amendment of section 29G

It is proposed to amend Section 29G to enable the co-operative credit structure to appoint their own chief executives in the light of the revival package and stipulating that the chief executive shall be a member of the Committee. (1) For every co-operative society there shall be a Chief Executive who shall be appointed and be removable by the society: Provided that,— Subject to such rules as may be prescribed, in case of an assisted society other than a society in co-operative credit structure the Government or the Registrar shall have power to appoint and remove the Chief Executives; and Provided further that a society in co-operative credit structure shall have the option of getting the chief executive appointed by requesting the Government or the Registrar, as the case may be. Provided also that, if the society fails to do so within three months, the Government or the Registrar, as the case may be, may appoint on its or on his own, a Chief executive to that Co-operative Society. (ii) in other cases, the Government or the Registrar may appoint Chief Executives where such Society makes a request for appointment of a Chief Executive for a term which shall not be less than five years; and remove such Chief Executive. (2) On the appointment of Chief Executive to a co-operative society by the Government or the Registrar, the person appointed as Chief Executive by the society, if any, by whatever name called, shall cease to be the Chief Executive. (3) Salary and other conditions of services of the Chief Executive shall,— (i) in the case of an official of the State Government be as approved by the State Government; and (ii) in other cases, be as approved by the Registrar: (4) The Chief Executive shall be the Chief Administrative Officer of the society and shall, subject to the general supervision and control of the board and such other conditions and restrictions as may be specified in the bye-laws,— (a) be responsible for general supervision and control over the employees of the society and be responsible for the day-to-day management and business of the society; (b) carry on the authorized and normal business of the society; (c) make arrangement for repayment of loans due to the State Government and loans obtained on Government guarantee and other loans, and shall send report to the Registrar in this behalf; (d) be responsible for operating the bank accounts in accordance with the provisions of the bye-laws and shall make arrangements for safe custody of cash: (e) sign and authenticate all documents of the co-operative society for and on behalf of the society; (f) be the custodian of all records and documents of the co-operative society and shall make arrangements for the correct maintenance of accounts and various books and records of the society and for the correct 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