(1) Notwithstanding anything contained in this Act, a co-operative housing society shall, within ninety days from the date of receipt of the certificate of registration under section 16, call its first general meeting for the purpose of—
(a) electing the directors of the board;
(b) placing a report on the progress of work and other particulars relating to the project of the co-operative housing society;
(c) finalising the policy and mode of allotment of plots, houses and apartments in multi-storied buildings.
360 The West Bengal Co-operative Societies Act, 1983.
XLV of 1983.]
(Chapter 1X.—Special provisions for co-operative housing societies.—Section 87.)
(2) If the election referred to in clause (a) of sub-section (1) is not held within the specified time, the Registrar may, after such inquiry as he thinks necessary, notwithstanding anything contained in section 99, order cancellation of registration of the co-operative housing society or winding up of its affairs and impose such penalty on the officers of the co-operative housing society as he may deem expedient.
(3) The board of a co-operative housing society in its first meeting and, whenever necessary, the members of a co-operative housing society in a general meeting shall prepare a panel of architects, valuers and building contractors in the manner prescribed, fix the fees to be paid to each of them and obtain their written consent thereto. The co-operative housing society shall send a copy of the panel and the schedule of fees to the Registrar and shall not have any of its works done by any person other than those included in the panel.