Amendment status not verified — confirm the current text below against the official source.
(1) A general body meeting of a society shall beheld 50C[within a period of six months of close of the financial year] for the purpose of:-- (a) approval of the budget with reference to the programme of the activities of the society prepared by the committee for the ensuing year; (b) election, if any, in the prescribed manner of the members of the committee other than nominated members; (c) consideration of the audit report 50D[and the report and follow up action of the committee thereon] and the annual report; 50E[(ca) review of operational deficit/loss, if any, and programme to reduce such deficit; or loss. (cb) approval of the programme of activities of the society prepared by the committee for the ensuing year; (cc) review of annual report and 50G[audited accounts] of any subsidiary-organisation, if any; (cd) amendment of bye-laws; 50H[(ce) consideration of detailed list of all liabilities of members of the Committee and the employees of the society, and their family members, due to the society for the previous financial year. Explanation.-- For the purpose of this clause, "family members" means husband, wife, their children including adopted children and parents; and] (cf) any other information required by the Registrar in pursuance of the provisions of the Act;] (d) disposal of the net profit; and (e) consideration of any other matter which may be brought forward in accordance with the bye-laws. 50I[(2) The Registrar or any person deputed by him and the Director of Co-operative Audit or any person deputed by him may have the right to attend in the committee and in the general body meeting of any society.] 50F[(3) Where the board of a co-operative society fails to convene the annual general meeting within the period specified in sub-section (1), the Registrar or the person authorised by him in this behalf shall be competent to convene such annual general meeting within a period of ninety days from the date of expiry of the period mentioned in sub-section (1) and the expenditure incurred on such meeting shall be borne by the co-operative society. (4) Members of the Board who, in the opinion of the Registrar, were responsible for not convening the annual general meeting within the stipulated period shall be disqualified for one term for being elected as committee members and to continue as members of a society in addition to being liable for any other provisions under this Act: Provided that the Registrar shall, before passing order under this sub-section, afford a reasonable opportunity of being heard to each such person, who in his opinion were responsible for not convening the annual general meeting within the specified period. (5) A notice of the general meeting stating the place, date and hour of the meeting together with the agenda shall be given to every member, as may be prescribed.] Substituted by Act 8 of 2013 for "once in a year" w.e.f. 14-02-2013. Inserted by Act 8 of 2013 w.e.f. 14-02-2013. Added by Act 8 of 2013 w.e.f. 14-02-2013. Inserted by Act 8 of 2013 w.e.f. 14-02-2013. Substituted by Act 9 of 2024 published in K.G.Ext. No.1829 dt. 07/06/2024 (w.e.f. 07/06/2024). Prior to the Substitution it read as "accounts" Substituted by Act 9 of 2024 published in K.G.Ext. No.1829 dt. 07/06/2024 (w.e.f. 07/06/2024). Prior to the Substitution it read as "(ce) declaration regarding date of holding of its general body meeting and conduct of elections when due; and" Substituted by Act 9 of 2024 published in K.G.Ext. No.1829 dt. 07/06/2024 (w.e.f. 07/06/2024). Prior to the Substitution it read as " (2) The Registrar or any other person deputed by him shall have the right to attend the committee or general body meeting of any society."