Annual general meeting

(1) The general meeting of every society shall be held within a period of six months after the date fixed for making-up its accounts for the co-operative year under the rules for the time being in force, for the purpose of - (a) approving the programme of the activities of the society prepared by the committee for the ensuing co-operative year; (b) electing the members of the committee other than members nominated under section 38; (c) considering the audit report and the annual report; (d) disposing of the net profits; and (e) considering any other matter which may be brought forward in accordance with the bye-laws: Provided that the Registrar may, by general or special order, extend the period for holding such meeting for a further period not exceeding three months: Provided further that, if in the opinion of the Registrar no such extension is necessary or such meeting is not called by the society within the extended period, if any, granted by him, the Registrar or any person authorised by him may call such meeting and exercise all powers and functions of an officer of the society authorised to convene such meeting and that meeting shall be deemed to be a general meeting duly called by the society. The Registrar may order that the expenditure incurred in calling such a meeting shall be paid out of the funds of the society or by such person or persons who, in the opinion of the Registrar, were responsible for the refusal or failure to convene the general meeting. (2) At every annual general meeting of a society, the committee shall lay before the society a statement showing the details of the loans, if any, given to any of the members of the committee during the preceding year.