Amendment status not verified — confirm the current text below against the official source.
Powers and functions of the Board: The powers shall discharge such functions, perform such duties and exercise such powers as may be specified in the Bye-Laws and in accordance with the terms, conditions and procedure laid down therein and in particular. the Board shall have the following powers, functions and duties, namely:- 1) To interpret the organizational objectives to set up specific goals towards achieving such objectives and to make periodic appraisal of operations; 2) To nominate, elect or appoint and remove the Chief Executive provided he/she is not Government appointee; 3) To make provisions for the matters mentioned in 5ection49 in respect of the staff of a Co-operative Society; 4) To finalize long term perspective plan, annual plan and budget and to direct the affairs of the Co-operative Society in accordance with the plan and budget approved by the General Body; 5) To arrange forfunds; 6) To authorize acquisition and disposal of immovable property; 7) To frame, approve and amend regulations relating to services fund accounts and accountability and information and report systems; 8) To elect President and Vice-President in accordance with the provisions of the Bye-Laws; 9) To prepare the Annual Financial Statement of Accounts; 10) To hold Annual General Meeting in stipulated time; and 11) To remove President or Vice President in accordance with sub-section (4) of Section 36. 587