(1) In case of any contravention of the provisions of sub-sections removal of office
(2)and (3) of section 39, or any other provision of this Act, or rules or regulations, Pearer ~ orbye-laws made there-under, the Board may, by a resolution, passed by two third majority of the Directors, remove any office bearer.
(2) The aggrieved office bearer may file an appeal against his removal to the Co-operative Tribunal within a period of thirty days from the date of the orders of his removal, whose decision thereon shall be final
(3) In the event of the occurrence of any vacancy of President of a self-supporting co-operative society by reasons of his death, resignation or removal, or otherwise, the Vice-President of such society shall act as President till the date, a new President is elected in accordance with the bye-laws.
(4) When the President is unable to discharge his functions owing to his absence, illness or for any other reason, the Vice-President shall discharge the functions of the President.
(5) The Vice-President during the period, he acts or discharges the functions of the President, shall have all the powers of the President.
Eligibility for
43. A member shall be eligible for being chosen as a Director if, — becoming a Director of a selfhe has right to vote in the affairs of the self-supporting co- supporting coopel ative society
(a) operative society ;
he has utilized the services of t he selt-supporting cooperative society during the previous financial year to the extent and in the manner sp eci fied in the bye-laws | niary interest in any contract ma de with the
(b)
(c) he has no pecu :
self-supporting co- operalive s ociety ;
(d) he is not a defaulter of any other self-supporting cooperative society ; and T GAZ. (EXTRA.), NOV. 8, 2010 4 PUNJAB GOVT GAZ. (F N (KRTK 17, 1932 SAKA)
(e) a period of three years has clapsed from the date, such member ceased to be the Director for the following reason, namely :—
(i) non-calling of annual general meeting OF Speci] general meeting under sections 36 and 37 respectively ;
(i) non-submission of annual report of activities and audited annual financial statement of accounts to the members under sub-section (4) of section 36 -
(iii). non-conduct of elections of the Directors; and
(iv) absence from three consecutive meetings of the Board ;
(f) a period of five years has elapsed from the date such a member ceased to be the Director on account of his removal ; and
(g) the period of five years has elapsed from the date of conviction for an offence under this Act or for an offence of moral turpitude.
powers and . 44. (1) Subject to the provisions of this Act, it shall be the primary the Board. duty of the Board to run the administration of a self-supporting co-operative society.
2) Without prejudice to the generality of the foregoing provisions.
such power shall include the power to—
(a) admita member of a self-supporting co- operative society and to terminate his membership in accordance with the provisions of this Act ;
(b) hold election of office bearers and to appoint and remove | the Chief Executive ;
(c) frame policies regarding
(i) organizing or providing of services to the members ;
(if) mode of custody and investment of funds :
(iii) manner of keeping accounts ;
yo PUNJAB GOVE GAZ (EXTRA), NOV 8 5010 10°
(d)
(e) 02
(g) (KRTK 17, 193» SAKA)
(iv) mobilisation, utilisation and investment of func:
(v) monitoring and managing of information « ystem
(vi) providing for returns to be filed with the concerned authoritics : and
(vit) such other matters, as may be considered necessary for the effective performance of the self-supporting co-operative society ;
consider the annual report, annual financial statements, annual plan and budget and place them before the general body for approval ;
consider audit and compliance reports of audit and place them before the general body for approval ;
review membership in other self-supporting co-operative societies, co-operative societies and other organizations ;
and take such other measures or do such other acts, as may be prescribed or required under this Act, or the bye-laws or as may be delegated by the general body.
45. The President of a self-supporting co-operative society shall discharge the following functions, namely :—
(a)
(b)
(c) ) 46. (1) The Board shall regulate its own pr ocedu AWS in this regard.
(2) The Board shall meet at such ti me and place, “cutive, may decide :
Provided that the Board shall meet at least on c to preside over the meetings of the Board and the general body ;
to have a right of casting vote in the event of equality of votes on any matter to be decided by the Board except in the matter of election of office be arers; and to exercise such powers and to perform su ch functions, as may be conferred and assigned by the Board by a resolution.
re by making byeas the Chief e in three months.
Powers and functions of the President Procedure to be regulated by the Board 106 PUNJAB GOV] GAZ. (EXTRA), N OV. 8.2010 (KRTK 17,1932 SAKA) Acts of a sell 47. No act of self supporting co-operative socie ty or Boay oref Supporng = officer shall be deemed to be invalid by reason only of the existence n opesaive saci \ defect in the procedure or in the constitution of such society or of the Boar oO y validated by cern, annointment or elect ion of an officer.
defects