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Section 27: � The Management of the affairs of the State Federa�ons shall vest in the Board of Directors which shall be cons�tuted as under

Bye laws of PuncofedState Regulations of Punjab · 1961

i) � Six Directors to be elected out of the representa�ves of the affiliated Dis�ct Coopera�ve Unions .

ii) � Three Directors to be elected out of the representa�ves of the affiliated Apex Socie�es.

iii) � Registrar, Coopera�ve Socie�es , Punjab or his nominee.

iv) � Govt. nominee not exceeding three or 1/3rd of the total number of Directors whichever is less when the State Govt is a share holder.

v) � Managing director.

28. � Elec�on to the Board shall be conducted in such a manner as may be laid down in the Act and the Rules and the instruc�ons issued by the Registrar in this behalf from �me to �me.

29. � The term of the Board shall be 5 years from the date of its elec�on. When any vacancy occure in the Board by resigna�on expulsion or ceasa�on, it shall be filled by elec�on and the person so elected shall hold office for the remaining tenure of the Board .

30. � The first mee�ng of the Directors to elect the office bearers shall be called by the Managing Director within one month from the date of declaratoin of the result.

31. � The Board will elect a Chairman and a Vice-Chairman from amongst its elected members. The Chairman or in his absence the Vice-Chairman shall preside over the mee�ng of the Board. In their absense the Chairman for the mee�ng shall be elected from amongst the Directors present.

a)� That the elected office bearers can be removed by a vote of no-confidence through a resolu�on passed by 2/3rd majority of the total elected members of the Board. New office bearers shall be elected for the remaining term of the Board.

b)� that the nominated members shall have no right to vote in the elec�on or removal of the office bearers.

� The Quorum at the mee�ng of the Board of Directors shall be 1/3rd of the total number of member of the Board of Directors,.

DIS - QUALIFICATION FOR MEMBERSHIP OF THE BOARD

Where this provision sits

ActBye laws of Puncofed
Section27
Marginal note� The Management of the affairs of the State Federa�ons shall vest in the Board of Directors which shall be cons�tuted as under
JurisdictionState of Punjab
StatusIn force as published by the source

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