Amendment status not verified — confirm the current text below against the official source.
(1) The governing body of every society shall at some date not later than eighteen months after the registration of the society and subsequently once at least in every calendar year lay before the society in general meeting a balance sheet and income and expenditure account for the period, in the case of the first account since the registration of the society and in any other cause since the preceding account made up to a date not earlier than the date of the meeting by more than six months. (2) The balance sheet and income and expenditure account shall be audited in the case of the first balance sheet and account by an auditor appointed by the governing body and in the case of subsequent balance sheet and account, by an auditor appointed by the general meeting. (3) The balance sheet and income and expenditure account shall be signed by at least three members of the governing body when the number of the governing body exceeds three and by all the members when the number is three. (4) After the balance sheet and income and expenditure account have been laid before the society at the general meeting, a copy of the balance sheet certified by at least two members of the governing body, shall be filed with the Registrar within twenty one days from the date of the general meeting. (5) If the requirements of this section are not complied with, the society and every member of its governing body, who knowingly and wilfully authorizes or permits the default, shall be liable to a fine [of twenty rupees for every day during which the non-compliance continues, subject to a maximum of [three hundred rupees]] Substituted by Kerala Finance Act, 2014 (29 of 2014). Prior to the amendment it read as "not exceeding one thousand rupees" Substituted by Kerala Finance Act, 2023 (17 of 2023) published in K. G. Ext. No. 1170 dt. 28/03/2023 (w.e.f. 01/04/2023). Prior to the substitution it read as: "two hundred rupees"