Amendment status not verified — confirm the current text below against the official source.
(1) (a) There shall be a Chief Executive, by whatever designation called of every cooperative society to be appointed by the Board or by the State Government and shall be a full time employee of such society. (b) The Chief Executive shall be the ex-officio member of the Board. (c) Where the State Government stands guarantee for repayment of any loan secured from any financial institution the Chief Executive may be appointed by the State Government and salary and allowances payable to and other terms and conditions of service including pension, gratuity and other benefits of the Chief Executive shall be prescribed by the Government. 394 THE ASSAM GAZETTE, EXTRA ORDINARY, FEBRUARY 4, 2012 (d) Notwithstanding anything contained in any law in force or bye-laws of the society, the Chief Executive appointed by the Government shall have full administrative control over the employees of the society in all matters including transfer, posting and disciplinary action. However, in case of dismissal of employees approval of the Board shall be necessary. (2) The Chief Executive shall be under the general superintendence, direction and control of the Board and exercise the following powers and the functions, namely (a) day-to-day management of the business of the co-operative society ; (b) operating the accounts of the co-operative society and be responsible for making arrangements for safe custody of cash ; (c) signing on the documents for and on behalf of the co-operative society; (d) making arrangements for the proper maintenance of various books and records of the co-operative society and for the correct preparation, timely submission of periodical statements and returns, in accordance with the provisions of this Act, the rules and the bye-laws ; (e) convening meetings of the general body of the co- operative society, the Board and the Executive Committee and other committees or sub-committees constituted under provision of the Act and bye-laws and maintaining proper records for such meetings; (f) making appointments to the posts in the co-operative society in accordance with the bye-laws ; (g) assisting the Board in the formulation of policies .objectives and planning ; (h) furnishing to the Board periodical information necessary for appraising the operations and functions of the co-operative society ; (i) to sue or be sued on behalf of the cooperative society; (j) present the draft annual report and financial statements for the approval of the Board within thirty days of closure of the cooperative year; (k) performing such other duties, and exercising such other powers, as may be specified in the bye-laws of the co-operative society ; (l) in case of dispute between the Chief Executive and the Board in any matter, the decision of the Registrar shall be binding on the both. THE ASSAM GAZETTE, EXTRA ORDINARY, FEBRUARY 4, 2012 395 VOTES OF MEMBERS w LOAN TO BE UTILISED FOR THE PURPOSE FOR WHICH ADVANCED RESTRICTIONS ON TRANSFER OF SHARE OR INTEREST (3) Subject to other laws regulating employer- employee relations all employees of a cooperative society shall be appointed, regulated and removed by and be accountable to authorities within the cooperative society in accordance with the service conditions approved by the Board Provided that in case of cooperative societies where State Government holds more than fifty percent of Share Capital or guarantees repayment of loan secured from any financial institution, any upward revision of pay and allowances of staff, shall require prior approval of the State Government. The controlling authority of all staff shall be the Chief Executive of the society.