Every co-operative society shall maintain accounts and book for the purpose of recording business transactions by it and close them every year on 31st March, by the 30th April. Each closing entry in the cashbook, in each ledger account shall be signed by the President, the Secretary and the Treasurer or any other approved members of the society authorised by the Managing Committee. The closing balances, which are thus authenticated, shall be carried forward to the following year commencing on the 1st April. For the purposes of calling the annual general body meeting as provided in section 29, the dale fixed for making up the accounts for the year shall be 30th April of each year (Amended on 18.5.89)
Every co-operative society shall keep and maintain the following accounts and books for the purpose of recording the business transacted by it:-
(a) Minute books for recording the proceedings of the general body.
(b) Register of applications for membership containing the name and address of the applicant, the date of receipt of application, the number of shares applied for and in case of refusal, the date of communication of the decision refusing admission to the applicant.
(c) Admission book, showing the name and address of each member, the date of admission, the shares taken by him and the amount of share capital, if any refunded to him together with the date of each such payment and refund.
(d) Nomination register.
(e) Cash book, showing daily receipts and expenditure, and the balance at the end of each day.
(f) Receipt book, containing forms in duplicate, one of each set to be issued for money received by the society and the other to serve as counterfoil.
(g) Voucher file, containing all vouchers for contingent expenditure incurred by the society, numbered serially and filed chronologically.
(h) Ledger of borrowings, showing deposits and other borrowings of all kinds.
(i) In the case of societies issuing loans:-
(i) Loan ledger, showing the number and date of disbursement of each loan issued to members the amount of loan, the purpose for which it is granted and the date or dates of repayment, distinguishing principal and interest.
(ii) Liability register showing the indebtedness of each member to the society whether on account of loan taken directly by him or on account of loan which he stands as surety.
(j) In the case of a society with unlimited liability, property statement of members showing the assets "and liabilities of each individual member on the date of his admission with full details of the property including the survey number of the lands, the statement being revised as often as may be necessary and in any case at least once in three years and such statements being entered in a register in a stitched volume
(k) In the case of a society, the working capital of which exceeds twenty thousand rupees, general ledger showing receipts and disbursements and the outstanding under various heads from day to day.
(l) In the case of a Co-operative bank, register of fluid resources showing the immediate liabilities of the society and the extent of fluid resources available to which the Banking Regulation Act, 1949 applies according to the instructions of the Reserve Bank.
(m) Monthly register of receipts and disbursements.
(n) Register of dividend.
The Registrar may, by order in writing, direct any co-operative society to get any or all of the accounts and books required to be kept by it under rule 43 written up to such date, in such form and within such time as he may direct. In case of failure by any co-operative society to do sq, the Registrar may depute an officer subordinate to him to write up the accounts and books. In such case it shall be competent for the Registrar to determine, with reference to the involved in the work and the emoluments of the officer deputed to do so, the charges which the society concerned shall pay to the Government and to direct its recovery from the society.
1. For the purpose specified in sub-section(i) of section 41, a copy of any entry in a book of a society regularly kept in the course of business shall be certified:-
(i) by the President or Secretary and by not less than two members of the committee. '
(ii) where an order has been passed under section 32 dissolving the committee and appointing an administrator by the Registrar, or any officer authorised by him.
(iii) where an order has been passed under sub-section (1) of section 66 appointing a liquidator of the society by the Registrar.
2. Every certified copy shall bear the seal of the co-operative society.
1. Every co-operative society shall prepare for each co-operative year.
(a) a statement showing the receipts and disbursements for the year in Form 11;
(b) a profit and loss account in Form;
(c) a balance-sheet in Form 13; and
(d) such other statement or return as may be specified by the Registrar from time to time.
2. Every balance sheet of a co-operative society shall give a true and fair view of the state of affairs of the society as at the end of the Co-operative year. Every profit and loss account of the society shall give a true and fair view of the profit and loss of the society for the Co-operative year. Every Co-operative society shall submit to the Registrar annually within April each year a copy of each of the statements specified in sub-rule (1) (Amended on 18.5.89).
Explanation - For purposes of this sub-rule reference to balance sheet or profit and loss account, shall include any subsidiary statements or documents annexed thereto and any notes thereon.
3. Without prejudice to sub-rule (1) every consumers' society and every producers' society, any other society, if so, required by the Registrar by order shall submit to him annually within such time as may be specified in that order, a statement of verification of the stock at the close of the preceding co-operative year of articles in which the society transacts business.
4. In case of failure by any society to submit any statement or return specified in sub-rule (1), (2) or (3) within the time specified therein, the Registrar may depute an officer to prepare the necessary statement or return. In such cases it shall be competent for the Registrar to determine with reference to the time involved in the work and the emoluments of the officer deputed to do so, the charges which the society concerned shall pay to the Government and to direct its recovery from the Society.
The books and records of a co-operative society shall be preserved as is set forth in scheduled I or as may from time to time be directed by the Registrar. A list of record destroyed from time to time shall be prepared and kept by the secretary.
1. The committee of a co-operative society shall specify which of the officer of a society shall :-
(a) keep the books of account;
(b) keep other books and registers; and
(c) prepare returns and statements
Provided that a person charged with the keeping of accounts shall not be the incharge of cash.
2. If the committee of a co-operative society has not specified the officers required to be specified in sub-rule (1) notwithstanding anything contained in the bye-laws of the society, the following officers shall be responsible for keeping accounts, record etc. indicated against each namely:-
He shall keep or cause to be kept all the books of accounts and vouchers and shall prepare or cause to be prepared annual profit and loss account, receipt and disbursement Account and the Balance sheet. Whosoever may be writing these books of accounts, they shall always be deemed to be in his custody, possession, power and control. He shall be responsible for their safe delivery to his successor after making a list of documents handed and taken over.
He shall keep or cause to be kept all other records of the society and shall be responsible for preparation and submission of various returns to the Registrar. Whosoever may be keeping these records, these shall always be deemed to be in 'his custody, possession, power and control. He shall be responsible for making over the charge of his record to his successor under proper charge report to be signed by the relieving and the relieved officers.
Cash balance in hand shall always remain in the hand of the Treasurer or any other official appointed by the committee and such treasurer or official authorised shall sign the cash book against closing cash in hand. (Amended on 24.5.82)
49. Minimum Staff to be employed.
1. Every co-operative society shall from time to time determine at a meeting of the committee the minimum members of paid staff required for its business. The committee shall prescribe their qualifications and experience and the emoluments. The committee shall be competent to appoint, dismiss or remove any paid staff.
2. The minimum paid staff for a co-operative bank and any co-operative society with a working capital or annual transactions of rupees five lakhs or over shall be:-
(i) One Secretary or Manager.
(ii) One Accountant.
(iii) One Cashier.
1. In. the Co-operative Societies of all classes including Financing Bank, the appointment of paid staff shall be subject to such directions as the Registrar may from time to time issue in regard to their technical and educational qualifications and in regard to their minimum number and pay and allowances and security deposits.
2. No society of the class referred to in sub-rule (1) shall appoint any person as its paid officer or servant in any category of service, unless he possesses the qualifications prescribed by the Registrar from time to time. No society shall retain in service any paid officer or servant if he does not acquire the qualifications within such time as the Registrar may direct. The Registrar may, for special reasons, relax in respect of any paid officer or servant or a class of officer or servants the provisions of the rule in regard to qualifications etc. No near relative of any member of a committee or a member of the committee of financing bank to which the society is indebted shall be appointed as its paid staff. (Amended on 6.8.97)
1. Without prejudice to the provisions of section 29 and 30, the meetings which shall be convened by a co-operative society of its general body shall be:-
(a) preliminary general meeting;
(b) annual general meeting; and
(c) special general meeting.
2. Notwithstanding anything contained in the Act, rules and buy-laws, every co-operative society shall within a period of not less than one month and not more than three months from the date of its registration, hold a general meeting which shall be called "preliminary general meeting". In this meeting the following business shall be discussed and decided:-
(a) Approval of allotment of shares, amount collected and amount spend in connection with registration of the society before registration.
(b) Election of members of the committee.
(c) Programme of activities and the budget estimates for the ensuing year.
3. Without prejudice to the provisions of section 29, every co-operative society shall hold a meeting of its general body which shall be styled its 'Annual General Meeting" at the intervals and in accordance with the provisions specified below: -
(a) the first annual general meeting shall be held within eighteen months of its registration.
(b) the next annual general meeting shall be held by the society within six months of 15th April following the expiry of the co-operative year in which the first, annual general meeting was held and thereafter an annuals general meeting shall be held within six months after 15th April following the expiry of each co-operative year. (Amended on 18.5.89)
(c) except in the case where in the exercise of his power under section 29, the Registrar has extended the time for holding the annual general meeting by any co-operative society, not more than fifteen months shall lapse between the date of one annuals general meeting and that of the next.
(d) where a managing committee of the society fails to hold the general body meeting within the prescribed time limit referred to above, the Registrar, shall call a general body meeting of the society to transact the business as provided under section 29 and the expenditure incurred thereon shall be a charge on the delinquent members of the committee of the society who have failed to conduct the general body meeting of the society within the prescribed time limit. The said amount shall be recoverable as arrears of land revenue from such delinquent members of the committee of the society by the Registrar. (Added on 6.8.97)
4. A requisition for a special general meeting to be convened under section 30 shall state the object of the meeting time and date of the meeting, and shall be signed by the members or the Registrar, as the case may be, and shall be sent to the registered office of the society.
On receipt of the requisition as aforesaid, it shall be considered by the committee of the society which shall convene the special general meeting or direct its Secretary to convene the special general meeting. At special general meeting no business other than that specified in the notice shall be transacted.
52. Constitution of a Representative General Body.
1. A co-operative society with limited liability may, if its area of operation extends to the whole of the Union Territory of Delhi or its membership exceeds three thousand, provide in its bye-laws for the constitution of a representative general body.
2. Where a co-operative society so provides in its bye-laws to constitute a representative general body. it shall with the permission of the Registrar, divide its members into different groups on a territorial or other basis.
3. The bye-laws of such a society may specify the number or proportion of the members of the representative general body who may be elected to represent each such group:- .
(a) by all the members of the society;
(b) by the only that particular group of members of the society to which such representatives belong.
4. The members who are elected to represent each such group shall be called delegates. A delegate shall hold office and attend general meetings till fresh delegates are elected in their places. Each delegate shall have one vote. A member shall cease to be a delegate if he:-
(a) ceases to be a member of the society; or
(b) resigns his office as a delegate.
A casual vacancy in the office of a delegate in any area or group shall be filled by election by members in the area or group concerned.
1. Notwithstanding any thing contained in the bye-laws, the quorum for a general meeting shall be one third of the total number of members subsisting as such on the date of notice of the meeting subject to a minimum of ten members.
2. No business shall be transacted at any general meeting unless there is a quorum at a time where the business of the meeting is due to commerce.
3. If within one hour from the time appointed for the meeting a quorum is not present, the meeting shall stand adjourned for half an hour on the same day, which should be specified in the notice calling the meeting, but if the meeting is called upon the requisition of the members of the society (not the Registrar) it shall stand dissolved. (Amended on 6.8.97)
Provided that at the adjourned meeting, no quorum shall be necessary.
4. If at any time during the meeting sufficient number of members is not present to form a quorum, the Chairman/President of the meeting, on his own motion or on his attention being drawn to this fact, shall adjourn the meeting at such convenient time. date and place as he thinks fit. and the business to be transacted at the adjourned meeting shall be transacted in the usual manner even if no quorum is there present.
54. Powers of Annual General Meeting.
1. Without prejudice to the provisions of section 29, the general meeting alone shall have the power to transact the following business:-
(a) Fixing the maximum credit limit of a co-operative society subject to the approval of the Registrar.
(b) Election, suspension and removal of members of the committee other than the nominated members. Provided that an interim vacancy of the committee may be filled up by Co-option by the remaining member of the committee till the election is held.
(c) Expulsion of the members.
1. A resolution which is put to the vote of a general meeting shall be decided by a show of hand unless (whether before or after the declaration of the result of the show of hands) a poll is demanded by at least ten members and greed to by the Chairman and if no poll is demanded, a declaration by the Chairman of such meeting that a resolution has been carried or lost and an entry to that effect in the minutes of the proceedings shall, for the purposes of the Act, be conclusive proof of the fact that such resolution has been duly carried or lost but. It shall not be proof of the number or proportion of the votes recorded in favour of or against such resolution.
2. If a poll is demanded, the votes shall be taken in such manner and at such time as the Chairman of the meeting directs subject to any provision in the bye-laws in this behalf, and the result of such poll shall be deemed to be the decision regarding the resolution over which the poll is demanded.
3. Subject to the Rules and the bye-laws, when a poll is taken the* voting may be by ballot, if the Chairman of the meeting so decides.
4. When a poll is taken the number of members voting for or against a resolution shall be recorded in the minutes of the proceedings.
1. Annual general meeting of a co-operative society may be called by giving not less than 14 days notice in writing.
2. Special general meeting of a co-operative society may be called by giving not less than seven days notice in writing.
3. Notwithstanding anything contained in the bye-laws, when a general meeting js called under the proviso to sub section (1) of section 29, or in pursuance of sub-section (2) of section 30, the Registrar may determine the period of notice for such meeting, the time and place of the meeting and the subject to be considered thereat. Registrar may preside over such meeting or authorise any person to so preside.
4. Notice of every general meeting of a co-operative society shall be given to every member of the society either personally or by sending it by post to him at his registered address in the Union Territory of Delhi, or if he has no registered address in Delhi to the address if any out of Delhi supplied by him to the society for giving notices to him. Where the notice is sent by post, service thereof shall be deemed to be effected after the expiry of forty-eight hours after the letter containing the notice is posted by properly addressing, prepaying and posting it, provided that where a member has intimated to the society in advance that notice of a general meeting should be sent to him by registered post with or without acknowledgement due and has deposited or has given under taking to deposit with the society a sum sufficient to defray the expenses of doing so, the service of the notice shall not be deemed to be effected unless it is sent by registered post.
5. The accidental omission in the opinion of the Registrar to give notice or a non-receipt of notice by any member shall not invalidate the proceedings at the genera) meeting.
6. The notice of an annual general meeting shall be accompanied by a copy each of audited balance-sheet profit and loss account together with the audit report thereon relating to the preceding year and the report of the committee. (Amended on 24.5.82)
57. Minutes of General Meeting.
1. Every co-operative society shall cause minutes of proceedings of general meetings to be entered in a book kept for that purpose.
2. Unless the minutes are drawn up and are dully signed by the Chairman immediately on the termination of the meeting, the minutes free from all alterations or corrections, shall be drawn up and shall be signed by the Chairman of the meeting within four working days from the time when the meeting terminated, the minutes so signed shall be evidence of the proceeding of the meeting. (Amended on 24.5.82)
3. Until the contrary is proved, every general meeting of a society in respect of the proceedings where of minutes have been so recorder shall be deemed to have been duly called and held.
1. Notwithstanding anything contained in these rules or the bye-taws and without prejudice to the generality of the powers of the Lt. Governor, in sub-section (1) of section 31, election of members of the committee of a class of society specified below shall be conducted in the manner given in Schedule II, namely:-
(a) Federal Society.
(b) Financing Bank.
(c) Consumers' Society.
(d) T & C Urban Co-operative Banks.
(e) Housing Societies.
(f) Any other society whose membership exceeds two hundred.
2. Notwithstanding anything contained in the bye-laws, the election of the members of the committee of a society of any class not falling under classes specified in sub-rule (1 ) shall be by show df hand in the manner given in Schedule III unless a poll is demanded in which case it shall be held by secret ballot.
3. Every cooperative society shall hold elections of its committee in the manner as prescribed in Sub-Rule (1) or (2) above, as he case may be, within 30 days from the expiry of one year from the date of last election of its committee.
Provided that in case a cooperative society fails to conduct election of its committee withinthe period specified above, the Registrar may after issuing the requisition under sectionSO (1) of the Act, appoint an election officer to call a Special General body Meeting of the cooperative society and hold election of its committee provisionally within 60 days from his appointment.
Provided for the reason beyond the control of the election officer he may conduct the election of the committee, after the expiry of 60 (sixty) days by taking extension of time from the Registrar. The Registrar may grant extension of time for conducting election specifying the reasons for such extension. (Added on 9.9.88)
4. Notwithstanding anything contained in Rule 62 herein after provided where the Registrar appoints election officer under Sub-Rule (3) he shall order the election of all the members of the committee irrespective of their terms of retirement there under.
Provided that all such elections shall be conducted by secret ballot by the Election Officer appointed by the Registrar irrespective of any provisions made there under in Sub-Rule (1) and (2) and schedule II & III under Rule 58. (Added on 9.9.88)
5. In all cooperative societies, including the class of cooperative societies prescribed for the purpose of sub-section (1) of section 31, two posts shall be reserved for women in the committee;
Provided that in case no woman comes forward to contest the election, the committee shall be competent to co-opt women member(s) subsequently within a period of one month of the election. (Added on 8.8.97)
(1) Societies constituted under the multi-unit Co-operative Societies Act 1942.
(2) Federal Co-operative Societies.
(3) Financing Bank.
(4) Urban Thrift and Credit Banks. (Added on 24.5.82)
Provided that in the case of a federal cooperative society, the primary society shall be asked to intimate the name of the its delegate who is not a defaulter to the society or any other society on or before the prescribed date for the purpose fixed by the returning officer appointed by the Lt. Governor. In respect of the delegate so nominated by a primary society, his details alongwith photograph, a copy of the resolution of the primary society shall be forwarded to the returning officer so as to reach his office on or before the prescribed date. if any society has not responded to the notice of the returning officer upto the prescribed date and tune, the said primary society shall not be eligible to participate in the elections to be conducted thereafter. (Added on 6.8.97).
No person shall be eligible for election as a member of the Committee if:-
(a) he is in default to any co-operative society in respect of any sum due from him to the society; (Amended on 8.8.97)
(b) he has, directly or indirectly, any interest in any contract to which the co-operative society is a party except in transaction made with the co-operative society as a member in accordance with the objects of the society as stated in the bye-laws:
(c) he has, at any time during a period of one year prior to the date of scrutiny of nomination papers, when engaged in any private business, trade or profession of any description which is carried on by the society:
(d) he has committed any offence involving dishonesty or moral turpitude during the period of five years prior to the date of scrutiny of nomination paper or he has been ordered to repay or restore the property or money or any part thereof under sub-section (2) of section59 by the Registrar. (Amended on 8.8.97)
(e) he is subject to any of the prohibitions contained in rule 60;
(f) he, during a period of 12 months proceeding the date of filing of nomination papers, has been carrying on, through agencies other than the Co-operative society of which-he is member, same business as being carried out by the Society. .
(g) he is a member of an elected committee of any co-operative society which has ceased to function or which has not fulfilled its objects as stated in its bye-laws and has been iincluded in the list of 'D' class societies maintained by the Registrar, or is a member of an elected committee of a society which is under winding up process;
(h) he has ceased to be a member of an elected c6mmittee of any co-operative society within a period of one year preceding the date of inclusion of such society in the list of 'D' class societies maintained by the Registrar on the operation of order of winding up of such society under section 63:
(i) he incurs any other disqualification laid down in the bye-laws of the society;
(j) he is a near relative of paid Employee of the Society. (Amended on 24.5.82)
(k) he has not completed minimum period of one year from the date of acquiring membership in the society: (Added on 8.8.87)
(l) a person shall not be eligible to contest election for the committee/board of directors of any class of cooperative society simultaneously on two seats; Provided that if a sitting member contests the election for another seat, he shall resign from that seat before filling the nomination paper. (Added on 6.8.97)
A member of the committee shall cease to hold his office as such if he:-
(a) continues to be in default in respect of any sum due from him to the co-operative society for such period as may be laid down in the bye-laws,
(b) ceases to be a member;
(c) is declare insolvent;
(d) becomes of unsound mind;
(e) is convicted of an offence involving dishonesty or moral turpitude; or
(f) becomes subject to any disqualification which would have prevented him from seeking election, had he incurred that disqualification before election. Explanation (Deleted on 24.5.82)
1. Without prejudice to the provisions of the bye-laws, no officer of a co-operative society shallhave an interest directly or indirectly, otherwise than as such officer:-
(a) in any contract made with the society; or
(b) in any property sold or purchased or leased by or to the society: or
(c) in any other transaction of the society except as investment made or as loan taken from the society or the provision of residential accommodation by the society to any paid employee of the society.
2. No officer of a co-operative society shall purchase directly or indirectly, any property ()f a member of the society sold for the recovery of his dues to the society.
3. The prohibitions contained in this rule shall continue to apply for a period of two years after a person ceases to be an officer of the society.
62. Deleted on 6.8.97
A delegate of one society sitting on the committee of another society shall vacate his seat in such committee: -
(a) if the society which elected him as a delegate withdraws him or elects another delegate in his place; or -
(b) if the committee of the society which elected him as a delegate has been superseded; or
(c) if the society of which he is a delegate becomes defunct or commits default and continues to be a defaulter for a period exceeding three months: or (d) if the affairs of the society of which he is a delegate are ordered to be wound up.
Notwithstanding anything contained in the Bye-laws of the Financing Bank, the Maximum strength of the Board of Directorate shall be 19 including three Government Nominees, nominated by the Government. The Nominee Directors will be one from the Finance Department, Govt. of NOT of Delhi, one from Cooperative Department and the third will be Managing Director/Chief Executive Officer of the Bank who would act as Member Secretary of the Board. The remaining 16 Directors shall have five Institutional Directors and 11 elected Directors as under: -
(a) Institutional Directors: -
(i) One seat reserved for Urban Cooperative Banks Federation.
(ii) One seat for Delhi State Coop. Union.
(iii) One seat for Delhi Cooperative Housing Finance Corp.
(iv) One seat for Delhi State Agricultural Coop. Marketing & Supply Federation Ltd.
(v) One seat for Delhi State Women Cooperative Marketing & Service Federation Ltd.
Note: -The above institution shall nominate their representatives who shall be either President/Chairman or General Secretary/Secretary of the Institution concerned.
(b) Elected representatives (Directors)
(i) Two representatives of Urban Thrift & Credit Cooperative Societies.
(ii) Three Representatives from Agricultural Credit/Non-Agricultural Credit Societies which will include Agricultural Marketing/Fruit & Vegetable Growers Marketing Cooperative Societies/Federation, excluding Delhi State Coop. Agricultural Marketing & Supply Federation Ltd.
(iii) One representative by weavers (Handloom) Cooperative Societies.
(iv) One representative by Industrial/Leather/Labour/Transport Cooperative Societies including individual members.
(v) One representative by Consumer Stores/Housing Cooperative Societies/Group Housing Societies.
(vi) One representative by economical weaker section cooperative societies.
Note: - Economically weaker sections as provided for in Sub-section (6) of section 31 of the Act will be deemed for the purpose of (vi) above, a society where the minimum membership in such society shall be more than 50% of the total membership consisting of land owners not owning more than one acre of land or tenants on agricultural land.
(vii) One representative of SC/ST Cooperative Societies (Reserved).
(viii) One representative of Women Cooperative Societies other than Federation (Reserved).
Note: - For the purpose of SC/ST & Women Cooperative Societies mentioned in (vii) & (viii) above respectively minimum membership in such societies of the respective category shall be more than 50% of the total membership of the respective categories.
(1 ) Provided that the election of the different categories shall be by votes of the same category of the society for their representatives.
(2) The Board of Directors shall elect a president out of the Directors and the election of the President shall be conducted by the Returning Officer within a week after the declaration of Directors result.
(3) The President can only be removed from his office by votes of no confidence by a majority of three-forth members of the Board of Directors. (Amended on 24.1.2001) vide (Notification No. F42/DSCB/U/BKG/Coop/532-539)
1. A committee of a co-operative society shall exercise all the powers of the society, discharge alt the duties as may be specified in its bye-laws by means of resolutions passed at its meetings. No resolution shall be passed by circulation.
2. A committee shall meet as often as required but a meeting shall be held at least once in every month, in case of Primary Societies and one in three months in case of Federal Societies and Financing Bank provided that where the committee fails to hold meeting for 3 consecutive months in case of primary Coop. Societies and 9 months in case of Federal Societies and Financing Bank, the Registrar may appoint the Election Officer for conducting the Election of the managing committee of such Primary Society, Federal society or Financing bank. (Amended on 24.5.82)
3. Notice of every meeting shall be given to every member of the committee in writing under the signature of the President or Secretary at least 5 days prior to the scheduled date to meeting which must be served either personally or by post under certificate of posting. Where the notice is sent by post services thereof shall be deemed to be effective after the expiry of 48 hours after the letter containing the notice is posted properly, addressing, prepaying, posting it. Provided that where a member has initiated to the society in advance that notice of a committee meeting should be sent to him by Registered post with or without acknowledgement due and has deposited or had given undertaking to deposit with the society a sum sufficient to defray the expenses of doing so, the service of notice shall not be deemed to be effective unless it is sent by Registered Post. However, in case of an emergent meeting, the service of such notice of the emergent meeting must be ensured at least 24 hours before the scheduled date and time of the meeting. (Amended on S.9.88)
4 If a member of the committee of a society fails to attend its three mandatory meetings (monthly)/(quarterly) consecutively, he shall be given notice of it by registered post and shall be deemed to have vacated his office and from that date shall cease to be a member of the committee, the vacancy shall be filled by co-option by other members of the committee. (Amended on 6.8.97)
5. Notwithstanding anything contained in the bye-laws of any co-operative society, the committee of a co-operative society shall cause minutes of all proceedings of its meeting to be entered inthe book for the purpose in handwritten at the spot in presence of members present and voting. The minutes of each meeting shall contain the names of the members present, names of the members, if any, dissenting from or not concurring in and of its religion. At the end of the minutes each member present and voting shall sign them. If the minutes are not made and recorded in this mariner they shall not be considered valid and under such circumstances, it shall be presumed that no meeting was help.
Provided that in case of urban cooperative banks, urban thrift and credit societies and co-operative federations, the proceeding shall be signed by the Chairman of the meeting and shall be confirmed in the next meeting of the committee. (Amended on 6.8.97)
6. Notwithstanding anything contained in the bye-laws of the co-operative society, the quorum for a committee shall be one third of the total number of the members of committee subject to a minimum of three. (Amended on 6.8.97)
l. The notice to show cause why the committee of a co-operative society shall not be removed under section 32 shall contain the grounds on which the proposed action is contemplated and shall be addressed to the Chairman/President of the society and sent to him at his last known address, if any, or at the registered address of the society by registered post. The service of the notice shall be complete as soon as the letter containing this notice is posted.
2. As soon as the Registrar under section 32 makes the order removing the committee. All the members of the committee shall be deemed to have vacated their respective offices from the date of the order and shall hand over charge of the assets and liabilities and record of the society to a person appointed by the registrar or to the Administrator appointed by him.