Employees

(1) Subject to the approval of the general body, the Board shall determine the cadre strength of the establishment and the scales of pay of the employees of the Co-operative: Provided that the Co-operative may borrow the services of the employees of other Co-operatives, Co-operative societies, Federal Co-operative, State or Central Government or their Organisations, Public Sector Undertakings and such other professional experts on such terms and conditions as may be approved by the general body. (1A) No employee of the co-operative shall be promoted to the next higher post unless he successfully completes such courses prescribed for promotion from his cadre out of the courses conducted under sub-section (7) of section 53. (2) The Chief Executive shall be the Chief Administrative Officer of the Co-operative and shall, subject to the general control and superintendence of the Board,- (a) be in-charge of the overall control and supervision of the day-today affairs of the Co-operative; (b) sign documents, enter into agreements and contracts and institute and defend suits and other legal proceedings on behalf of the Co-operative; (c) have powers to endorse, sign, negotiate cheques and other negotiable instruments and operate the bank accounts of the Co-operative; (d) be responsible to assist the board in matters relating to recruitment, performance and discipline of the employees; (e) arrange to maintain proper records and accounts of the Co-operative; (f) present the draft annual report and financial statements for the approval of the board within thirty days from the close of the cooperative year (g) assist to convene the board meetings, general meetings and the special general meeting in accordance with the bye-laws; (h) assist the board in the formulation of policies and programmes; (i) furnish to the board information necessary for monitoring the performance of the Co-operative; and (i-1) furnish the financial statements, schedules and other statements with the approval of the board and the related books of accounts, records and other documents necessary for the annual audit of accounts of the cooperative to the auditor within the thirty days from the close of the cooperative year. (i-2) place before the board the action to be taken for rectification of defects pointed in the audit report, obtain approval of the board and take action accordingly. (i-3) place before the board the action to be taken for rectification of defects pointed in the inquiry report, if any, obtain approval of the board and take action accordingly. (i-4) render necessary information and assistance to the cooperative election authority for conduct of elections before the term of expiry of the board. (i-5) furnish to the Registrar and Federal cooperative within the thirtieth day of September every year, the returns and information to be submitted as per section 34 to the Registrar and the Federal cooperative. (i-6) report any information on any vacancy in the board to the cooperative election authority. (i-7) If he/she fails to submit every financial year the declaration of assets and liabilities of his/her and his/her family. Explanation:- For the purpose of this clause “family” means “Chief Executive Officer and his/her Spouse, Unmarried Daughter and Undivided Son.