Section 5(1) in The Bombay Cotton Contracts Act, 1932
(1)[* * * * *] [The words 'subject to the provisions of section 9' were deleted by Bombay 17 of 1938, Section 2 and First Schedule.] In every recognised cotton association there shall be a Board of Directors. Subject to the sanction of the [Provincial Government] [The words 'Provincial Government' were substituted for the words 'Governor in Council' by the Adaptation of Indian Order in Council.], a recognised cotton association may make and may from time to time add to, vary or rescind bye-laws providing for -(a)the constitution of the Board of Directors,(b)the powers and duties of the Board of Directors and the manner which its business shall be conducted,(c)the number and constitution of electoral panels and the representation upon such panels, and(d)the method of appointment of members to the Boards of Directors.
