Section 49E in The M.P. Co-Operative Societies Act, 1960
49E. [ Appointment of Managing Director and Chief Executive Officer in certain circumstances. [Inserted by M.P. Act No. 14 of 1990 [w.e.f. 31-7-1990].]
(1)[(a) Notwithstanding anything contained in this Act or rules or bye-laws made thereunder for every Apex Society where the State Government has contributed to its share capital or has given loans or financial assistance or has guaranteed the repayment of loans granted in any other form, there shall be a Managing Director, not below the rank of Class I Officer, who shall be selected by a committee constituted at the State level consisting of the Agriculture Production Commissioner, Chairman of the Apex Society, Registrar Co-operative Societies and one Director nominated by the Board of Apex Society :Provided that if the committee fails to select the Managing Director unanimously, the matter shall be referred to the State Government whose decision thereon shall be final].(b)The Managing Director shall be ex-officio member of the committee.(c)The Managing Director shall be the Chief Executive Officer of the society and shall perform such duties and exercise such powers as may be prescribed.(2)(a)Notwithstanding anything contained in this Act, or the Rules or bye-laws made thereunder for every Central society where the State Government has contributed to its share capital or has given loans or financial assistance or has guaranteed the repayment of loans, debentures, or advances or has given grants in any other form, there shall be a Managing Director or a General Manager not below the rank of Class II Officer who shall be the Chief Executive Officer of the society and ex-officio member of the committee;(b)The Chief Executive Officer shall be appointed :(i)from among the Officers of the cadre maintained under Section 54 if such a cadre has been created;(ii)in other cases with the prior approval of the Registrar.(c)The Chief Executive Officer shall perform such duties and exercise such powers as may be prescribed.]
