Amendment status not verified — confirm the current text below against the official source.
Powers and functions of the Board of Directors - (1) The Board shall, in accordance with the bye-laws be the authority to,- (a) admit and terminate membership; (b) elect the chairperson and other office bearers; (c) remove from office the chairperson and other office bearers; (d) appoint and remove the chief executive; (e) fix staff strength; (f) frame policies concerning; (i) organisation and provision of services to members (ii) recruitment, and conditions of service of the staff at the Co- operative Society; (iii) mode of custody and investment of funds; (iv) manner of keeping accounts; (v) mobilisation, utilisation and investment of various funds; (vi) monitoring and management information systems including statutory returns to be filed; (vii) such other subjects and matters necessary for the effective performance of the Co-operative Society. (g) Place the annual report, annual financial statements, annual plan and budget for the approval of the general body; (h) Consider audit and compliance reports and place these before the general body; (i) review membership in other Co-operatives; (j) undertake such other functions as may be delegated by the general body; (2) The Chairperson shall be elected by the Board from among the elected members and shall, in accordance with the bye-laws,- (a) preside at meetings of the Board and the general body; (b) have only a casting vote in the event of equality of votes on any matters being decided upon by the Board; (c) exercise such other powers as may be delegated by the board and specified in the policies framed or resolutions adopted by the Board.