(1) Subject to the provisions of this Act and the byelaws, the ultimate authority of a Co-operative Society shall vest on its general body:
Provided that where, because of spread of number of members, a Co-operative Society feels the need for constituting a Representative General body for more effective decision making, it may constitution a Representative General body in such manner and with such functions as may be specified in the bye-laws.
(2) The following matters, among others specified in the bye-laws shall be dealt with by the general body of a Co-operative Society, namely:-
(a) amendments to bye-laws;
(b) election and removal of Directors;
(c) consideration of,-
(1) the long term perspective plan and budget;
(2) the normal operational plan and budget;
(3) the annual report of activities for being filed with the Registrar;
(4) the auditor’s report and the annual audited statement of accounts for being filed with the Registrar;
(5) special audit report or inquiry report, if any;
(6) compliance report relating to audit, special audit and/or inquiry, if any;
(d) approval of appointment and removal of auditors;
(e) disposal of surplus;
(f) management of deficit;
(g) creation of specific reserves and other funds;
(h) review of actual utilisation of reserves and other funds;
(i) review of the Chief executive’s report of the attendance at meeting by Directors and review of the business done with the Co-operative Society by the Directors;
(j) appointment, reconstitution and disbanding on the Representative General body;
(k) remuneration payable to any Director or internal auditor in connection with his duties in that capacity or his attendance at related meetings;
(l) membership of the Co-operative Society in federation;
(m) collaboration with other organisation and its review;
(n) promotion of subsidiary organisations and review;
(o) dissolution of the Co-operative Society; and
(p) all other functions expected of the general body under the other provisions of this Act.