Section 35 in The M.P. Swayatta Sahakarita Adhiniyam, 1999
35. Functions, responsibilities anti powers of board.
- The board shall discharge such functions, perform such duties and responsibilities and exercise such powers as may be specified in the bye-laws and in accordance with the terms, conditions and procedure laid down therein and in particular the board shall have the following powers, functions and duties, namely :-(a)to interpret the organisational objectives, to set up specific goals to be achieved towards such objectives, and to make periodic appraisal of operations;(b)to nominate, elect or appoint and remove the Chief Executive;(c)to make provisions for the matters mentioned in Section 44 in respect of the staff of a co-operative;(d)to finalise long-term perspective plan, annual plan and budget, and to direct the affairs of the co-operative in accordance with the plan and budget approved by the general body;(c)to arrange for funds;(f)to authorise acquisition and disposal of immovable property;(g)to frame, approve and amend regulations relating to services, funds, accounts and accountability, and information and reporting systems;(h)to elect President, Vice-President and representative in accordance with the provisions of the bye-laws;(i)[ to prepare the annual financial statement of accounts; [[Clause (i) subs, by M.P. Act No. 16 of 2010. Prior to substitution it was as under:'(i) to prepare the annual financial statement of accounts.']](j)to file returns and information in accordance with the provisions of sub-sections (1) and (2) of Section 52;(k)to convene annual general meeting or special general meeting under. Section 32;(l)to prepare the business policy for co-operative and to conduct the work in accordance with the business policy;(m)to consider the audit report of accounts of the previous financial year and to take action on its recommendations and to submit the compliance report along with the details of action taken before the annual general meeting.]
