Amendment status not verified — confirm the current text below against the official source.
Omitted by Act No.16 of 2007. [Act No.7 of 1964] 61 146[31-A. The committee of a society shall, subject to the provisions of the Act, rules, bye-laws and resolutions of the General body, exercise the following powers and functions, namely:- 147[(1) admit the members to General Body; (2) allot shares to the members and transfer of shares to General Body;] (3) recommend removal of the members disqualified under section 21; (4) recommend removal of any of the committee members disqualified under sections 21-A, 21-AA, 21-B and reinstatement of a Committee member who ceased to be such member of the committee under section 21-B and place the reports before the General Body; (5) raise funds in the form of loans or deposits and invest them; (6) provide services or facilities including sanction of loans and advances to the members on a specific recommendation of the chief executive officer on the basis of the date of admission of such members; (7) sanction expenditure which is necessary for the business of the society subject to the provisions of the annual budget; (8) conduct elections in the manner specified in the bye- laws to the office of the members of the Committee before the expiry of the term;