Such meeting shall not be presided over by the President or Vice-President against whom such resolution is to be considered.

Functions, responsibilities and powers of board

1. (1) The board may perform functions, discharge responsibilities and exercise powers as specified under and in accordance with the terms, conditions and procedure laid down in the articles of association, which shall, inter alia, include the following functions, responsibilities and powers: -
   • (a) to decide on the organisational objectives, to set up specific targets to be achieved towards the objectives, and to make periodic appraisal of operations;
   • (b) to elect and remove office bearers;
   • (d) to make provisions for regulating the appointment of all employees of the Co-operative, the scales of pay, allowances and other conditions of service including disciplinary action;
   • (e) to finalise long term perspective plan, annual plan and budget to be placed before the general body, and to direct the affairs of the Co-operative in accordance with the plan and budget approved by the general body;
   • (f) to arrange for funds;
   • (g) to decide acquisition and disposal of movable and immovable property;
   • (h) to frame, approve and amend regulations relating to services, funds, accounts and accountability, and information and reporting systems; and
     • (i) to consider the matter specified under subsection
2. (2) of section 28.
3. (2) Every director of a Co-operative while performing duties, discharging responsibilities, and exercising powers shall-
   • (a) act honestly and in the best interests of the Co-operative; and
   • (b) exercise such due care, diligence and skill as a reasonably prudent person would exercise in similar circumstances: Provided that any director who is guilty of misappropriation, breach of trust or any other omission or commission, resulting in loss or shortfall in revenue to the Co-operative, shall be personally liable to make good that loss or shortfall without prejudice to any criminal action to which the director may be liable under law.