(1) The Board of a co-operative may, at any time, call a general meeting of the members of the co-operative:
Provided that one such meeting known as Annual General Meeting shall be held within one hundred any fifty days of the closure of the co-operative’s financial year to deal with the matters specified in section 27 (1).
(2) The Board shall hold a special general meeting within thirty days of the date of receipt of a requisition from:
(a) one- fifth of the members having the right to vote or 500 members having the right to vote; or
(b) the Registrar, in pursuance of the Registrar’s functions under this Act;
Provided that any such requisition shall contain the reasons why the proposed agenda and the meeting is felt necessary, and no subject other than the subjects included in the proposed agenda shall be discussed at the special general meeting.
(3) All Directors shall cease to be Directors at the end of the period within which an Annual General Meeting under sub-section (1) or a special general meeting under sub-section (2) is required to be held, if the Board fails to hold such general meetings within the specified period.
(4) All Directors shall cease to be Directors at the Annual General Meeting, if the audited annual financial statement and auditor’s comments and observations, if any, along with the report of activities for the previous financial year were not made available to the members along with the notice to attend the Annual General Meeting at which the report and accounts are to be considered by the general body, and such general meeting shall be conducted by the chair person appointed by the Arbitral Tribunal.
(5) The quorum for a general meeting shall be as specified in the articles of association, but shall not be less than one-fifth of the members eligible to vote at the meeting;
Minutes of general meetings