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Removal of elected members by general body
Removal of elected members of a board, who has acted
adversely to the interests of the Federation, will be in
accordance with the provisions of section 47 of the Act.
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Constitution of Committees
One Executive Committee and a maximum of three other functional committees, sub-committees will be constituted as per section 53 of the Act.
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Executive Committee
There shall be one Executive Committee consisting of one President, two Vice-Presidents and four members of Board of Directors.
Four members shall form a quorum. |
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Powers of Executive Committee
(a) To decide the manner in which the funds of the Federation shall be invested.
(b) To prepare the Annual Budget.
(c) To consider the statement of receipts and payments.
(d) To approve expenditures up to the financial limits delegated by the Board.
(e) To nominate representation of the Federation to national and international events concerning cooperatives.
(f) To authorize the Chief Executive or the Officer appointed to work in his place to sign singly or jointly with any other officer of the Federation, all deposit receipts and operate on the accounts of the Federation with the Bank and also to endorse and transfer promissory notes and other securities and sign, encash cheques or negotiable instruments of the Federation.
(g) To exercise such powers and functions as may be delegated by the Board of Director from time to time.
(h) To delegate any of its powers to the President, Vice-President and Chief executive of the Federation. |
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President
The President of the Federation shall be elected by the Board of Directors.
The President shall have the following powers:
(i) To preside over the meetings of the Annual General Meeting, Special General Meeting, Board and Executive Committee and other Committees or sub-committees of which he is member.
(ii) To approve and sanction expenditure on any of the items approved in the budget and such other expenditure as approved and sanctioned by the Board / Executive Committee as the case may be.
(iii) To exercise all powers delegated to him by the Board / Executive Committee and to delegate any of them to the Chief Executive. |
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