Section 48C in The M.P. Co-Operative Societies Act, 1960
48C. [ Powers of committee. [Substituted by M.P. Act No. 22 of 1995 [w.e.f. 22-6-1995].]
- The Board or the Committee of a society shall in accordance with the bye-laws, have power to-(a)admit and terminate membership;(b)elect the Chairman and other office bearers;(c)remove from office the Chairman and office bearers;(d)fix staff strength with the approval of the Registrar;(e)frame policies concerning-(i)organisation and provisions for services to members;(ii)qualifications, recruitment, service conditions of the staff and other matters relating to staff with the approval of the Registrar;(iii)mode of custody and investment of funds;(iv)manner of keeping accounts;(v)mobilisation, utilisation and investment of funds;(vi)monitoring and management of information system including statutory returns to be filed;(f)place the annual report, annual financial statements, plan and budget for the approval of the general body;(g)consider audit and compliance reports and place the same before the general body; and(h)undertake such other functions as specified in the bye-laws.]
