Amendment status not verified — confirm the current text below against the official source.
Final authority in a co-operative society :- (1) The final authority in a co-operative society shall vest in the general body of members; 2[* * * & ] 3[(1-A) Notwithstanding anything in sub-section (1), where a co-operative society consists of not less than one thousand or such greater number of members as may (1) Substituted by Punjab Act No. 20 of 2021 (2) Proviso Omitted by Punjab Act 26 of 1969 [22] (3) Substituted by Punjab Act No. 14 of 2014 be prescribed, the society may provide in its bye-laws for the constitution of a smaller general body designated as the representative general body, to be elected in the prescribed manner for a term of not more than five years, consisting of such number of members of the society and to exercise all or such of the powers of the general body as may be specified in the bye-laws and thereupon any reference in this Act to the general body or meeting thereof shall be construed as a reference to the representative general body or its meetings : Provided that the representative general body shall not alter any provision in the bye-laws relating to its constitution or powers: Provided further that not less than twenty percent of the total members of the co-operative society may requisition a meeting of the general body for re-constitution of the smaller general body. On receipt of such requisition, the committee shall call a meeting of the general body not later than one month from the date of receipt of such requisition. If in such a meeting of the general body, it is decided by a majority of members present and voting to reconstitute the smaller general body, then the election to such smaller general body shall be held within forty five days thereof.] (2) Notwithstanding anything contained in sub-section (2) of section 19, each delegate shall have one vote in the affairs of the society. Section - 24