(1) Within three months from the date of registration of a society, the chief promoter thereof, shall convene the first general meeting of all persons who had joined in the application for registration of the society. Where the chief promoter fails to convene the meeting as aforesaid, it shall be convened by any person authorised in that behalf by the Registrar.
(2) At the first general meeting, the following business shall be transacted, namely:—
(i) Election of a President for the meeting;
(ii) Admission of new members;
(iii) Receiving a statement of accounts and reporting all transactions entered into by the chief promoter upto 14 days before the meeting;
(iv) Constitution of a provisional board of directors until regular elections are held under the bye-laws or under section 66 of the Act.
The provisional board of directors shall have the same powers and perform the same functions as the board of directors elected in the regular elections;
(v) Fixing the limit upto which the funds may be borrowed;
(vi) Any other matter which has been specifically mentioned in the bye-laws.