Amendment status not verified — confirm the current text below against the official source.
Clauses (1) and (2) substituted by Act No.6 of 2005. Powers and functions of the committee. 62 [Act No.7 of 1964] (9) conduct general meetings as prescribed in the Act; (10) cause the audit of the accounts of the society within the time prescribed and place the audit report before the General body; (11) decide matters connected with the day to day management of the society; (12) fix the staffing pattern, qualifications, pay scales and other allowances to the employees of the society, subject to the availability of the administrative and contingent fund and approval of the General body and Registrar; (13) place the reports of inquiry under section 51 or inspection under section 52 or under section 53 or special audit report under section 50 before the General Body within the time prescribed; (14) rectify the defects noted in the reports of audit under section 50 or inquiry under section 51 or inspection under section 52 or under section 53; (15) suspension of any officer or servant of the society under section 59; (16) initiate action for prosecution of any person who may have incurred criminal liability under the provisions of this Act or any other law for the time being in force; (17) prepare the list of defaulters and publish the same as prescribed and place before the General Body; (18) review all outstanding loans and ensure coverage of legal action on all overdue loans and advances; [Act No.7 of 1964] 63 (19) give information on the affairs of the society to the supervisory council, the Registrar, financing bank and the federal society to which the society is affiliated; (20) place the report on the loans sanctioned to and the business done by the members of the committee or their near relatives with the society, defaulters thereof and action to recover them before the General Body; (21) place annual report, annual financial statement, annual plan and budget before the General Body; (22) ensure co-operative education of the members, officers and the servants of the society; (23) prepare and place before the general body, information or reports or statements relating to:- (a) disposal of properties; (b) deficits in cash or stocks; (c) proposals for appropriation of net profits including creation of reserves and other funds; (d) write off bad debts; (e) removal of membership; (f) contribution to cooperative education fund and administrative and contingent fund; (g) expulsion of member who has acted adversely to interests of the society; (h) affiliation of the society to the financing bank or other societies; 64 [Act No.7 of 1964] (i) elections of delegates to the financing bank or other societies; (j) appointment of supervisory council and internal auditors and consideration of their reports and follow up action.] 148[31-B. (a) Notwithstanding anything contained in this Act, Rules and Bye-laws of the society, the Government shall constitute a State Cooperative Election Authority; The State Cooperative Election Authority shall be headed by an officer not below the rank of Additional Registrar of Cooperative Societies. The said Authority is to be assisted by not more than two Additional Co-operative Electoral Officers who are not below the rank of Joint Registrar of Co-operative Societies. The service conditions of the State Cooperative Election Authority and the Additional Cooperative Electoral Officers shall be as prescribed. (b) The superintendence, direction and control of the preparation of electoral rolls and conduct of all elections shall vest with the State Cooperative Election Authority which shall conduct all elections in the manner prescribed, for all types of Cooperative Societies registered under this Act: Provided that the State Co-operative Election Authority referred to under sub-section (a) above may issue guidelines otherwise laying down the procedure for conduct of elections from time to time.