Powers and functions of the committee

The committee of a society shall, subject to the provisions of the Act, rules, bye-laws and resolutions of the General body, exercise the following powers and functions, namely:- (1) admit the members to General Body; (2) allot shares to the members and transfer of shares to General Body; (3) recommend removal of the members disqualified under section 21; (4) recommend removal of any of the committee members disqualified under sections 21-A, 21-AA, 21-B and reinstatement of a Committee member who ceased to be such member of the committee under section 21-B and place the reports before the General Body; (5) raise funds in the form of loans or deposits and invest them; (6) provide services or facilities including sanction of loans and advances to the members on a specific recommendation of the chief executive officer on the basis of the date of admission of such members; (7) sanction expenditure which is necessary for the business of the society subject to the provisions of the annual budget; (8) conduct elections in the manner specified in the bye-laws to the office of the members of the Committee before the expiry of the term; (9) conduct general meetings as prescribed in the Act; (10) cause the audit of the accounts of the society within the time prescribed and place the audit report before the General body; (11) decide matters connected with the day to day management of the society; (12) fix the staffing pattern, qualifications, pay scales and other allowances to the employees of the society, subject to the availability of the administrative and contingent fund and approval of the General body and Registrar; (13) place the reports of inquiry under section 51 or inspection under section 52 or under section 53 or special audit report under section 50 before the General Body within the time prescribed; (14) rectify the defects noted in the reports of audit under section 50 or inquiry under section 51 or inspection under section 52 or under section 53; (15) suspension of any officer or servant of the society under section 59; (16) initiate action for prosecution of any person who may have incurred criminal liability under the provisions of this Act or any other law for the time being in force; (17) prepare the list of defaulters and publish the same as prescribed and place before the General Body; (18) review all outstanding loans and ensure coverage of legal action on all overdue loans and advances;