(1) The affairs of the fund shall be carried on and managed by the executive committee who shall exercise such power and authority of the fund as may be necessary and prudent for its smooth conduct consistent with the stated aims and objects.
(2) All properties, moveable and immovable or of any kind of the fund shall stand vested in the executive committee.
(3) Without prejudice to the generality of the forgoing provisions, the executive committee shall have following powers:-
(i) acquire by gift, donations, grants, exchange, lease lands, buildings or other immovable properties together with all rights appertaining thereto;
(ii) to manage the properties of the fund;
(iii) to raise funds for the fund through gifts, donations, grants etc;
(iv) to receive monies, securities, instruments and /or any other movable properties for and on behalf of the fund;
(v) to issue receipts, to sign and execute instruments and to endorse or discount cheque or other negotiable instrument through its accredited agents;
(vi) to, make sign and execute such documents and instruments as may be necessary and proper for carrying out the management of the property and affairs of the fund;
(vii) to manage, transfer, dispose of any, movable or immovable property of the fund;
(viii) to prescribe powers, functions and duties of the office bearers;
(ix) to appoint an auditor or auditors for auditing the accounts of the fund;
(x) to engage, from time to time, such and as many persons and on such terms and conditions, as may be fit for carrying out the affairs of the fund for conduction studies, investigations, researches, training and other activities undertaken by the fund;
(xi) to exercise control and super ordination over the staff of Fund;
(xii) the executive committee shall have the power to make bye laws in respect of the following matter:-
(a) management of properties, funds, affairs and works of the fund;
(b) procedure for convening and conduction of the meetings of the executive committee and such other bodies as may be set up from time to time;
(c) such other purpose as may be found necessary.
Powers and Duties of the office bearers Chairman/memb er Secretary
5. Powers /Duties as prescribed in section 4 the following powers/duties of Chairman/member Secretary shall be in addition:-
(a) The Chairman shall be the head of the fund, who shall preside over all the meetings of the executive committee and issue instructions to office bearers and members of the Executive Committee. He can call any emergency meeting of the Executive committee.
(b) Vice Chairman shall preside over all the meetings of the Executive Committee in absence of the Chairman, and perform all the duties of the Chairman and shall be vested with all the powers which will be formally assigned to him by the Chairman in writing.
(c) Member Secretary shall exercise control over the property of the fund and look after the administrative and legal matters of the fund. Member Secretary shall be responsible for proper maintenance and prescribed annual audits of accounts of the fund. He/she shall put up proposals and estimates for works to be undertaken before the Executive Committee in consultation and with prior approval of the Chairman.
Meetings of the Executive committee
6. The Executive Committee shall meet annually but in special case may met whenever necessary with the permission of the Chairman. A fortnight’s notice will be required for Executive Committee meeting. Under emergent circumstances meeting may be called by the secretary with the approval of the Chairman at short notice.
Staff and their Remuneration
7. For the efficient performance of its duties and functions, the Executive Committee may engage on contract or deputation, for a fixed term not exceeding three years in any case, such person or persons on the staff as it deems necessary and prescribe the terms and conditions of such engagement and their remunerations. The expenditure to be incurred for such engagements shall be met out of the Nidhi funds.
Chapter-3 Office of fund 8. The office of the fund shall be formed as a separate cell adjunct to the office of the secretary, Urban Development, Govt. of Uttarakhand, Dehradun, i.e. ex-officio secretary of the fund.
Finances of the fund