Disqualification for being elected or continued as director

(1) A person shall be disqualified for being elected or continued as director of the Co-operative for a maximum period of five years from the date of incurring disqualification if such person,- (a) has at any time lost the right to vote as a member or to continue as such; or (b) has incurred any other disqualifications as specified in the bye-laws; or (c) absents himself from three consecutive board meetings without leave of absence; or (1) (d) is convicted for an offence involving moral turpitude under any law for the time being in force, or for an offence under this Act; or (e) is in default to that cooperative or any other cooperative or cooperative society in respect of any dues from him as borrower or has been a surety for a borrower who has defaulted in repaying his loan continuously for three installments. (f) incurs any disqualification as specified in sub-section (2). (g) If he/she fails to declare and submit his/her family assets and liabilities statement by end of every cooperative year. Explanation- For the purpose of this clause “family” means “Director and his/her spouse, unmarried daughter and undivided son. (2) Such directors who are responsible shall incur disqualification for being elected as director in a cooperative or cooperative society for a maximum period of five years from the date of incurring such disqualification and shall also be disqualified to continue as director of that cooperative or any other cooperative or cooperative society, if during the term of office as director of a cooperative or cooperative society they, (a) have not rendered necessary assistance to the cooperative election authority for conducting election to the board before the expiry of its term within the stipulated time; or (a-1) have not submitted returns and information to the Registrar and the federal cooperative as per section 34 within a period of six months from the close of the cooperative year; or (a-2) have committed serious financial irregularities or frauds which have been detected; or (b) have not conducted the annual general meeting within the twenty fifth day of September every year or requisitioned meeting of the general body within the time stipulated in section 30; or (c) have not placed the audited accounts for the preceding cooperative year along with the report of the auditor before the annual general meeting. (d) have violated the order or direction of the Federal Cooperative or violated any order of quasi-judicial authority or court; (e) have opened branches without prior approval of the Federal Cooperative (3) A director or an employee who is guilty of misappropriation, breach of trust or any other omission or commission resulting in loss to the Co-operative, shall be personally liable to make good that loss without prejudice to such criminal action to which he is liable under any other law for the time being in force. (4) Any question as to whether a member of the board is or has become subject to any disqualification specified in this section shall be decided by the Federal Co-operative after giving the person concerned a reasonable opportunity of being heard. (5) Any person aggrieved member may prefer an appeal against the order made under sub-section (4) to the Registrar within thirty days from the date of order.