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Start Free TrialVice-presidents Pension Act, 1997 Section 1
Title: Short Title
State: Central
Year: 1997
This Act may be called the Vice-President's Pension Act, 1997.
View Complete Act List Judgments citing this sectionKarnataka Souharda Sahakari Act, 1997 Section 22
Title: Restriction on Services to Non--members
State: Karnataka
Year: 1997
The services of a Co--operative shall ordinarily be available only to members unless otherwise provided in the bye--laws.
View Complete Act List Judgments citing this sectionKarnataka Souharda Sahakari Act, 1997 Section 29
Title: Filling Up of Casual Vacancies
State: Karnataka
Year: 1997
Where there is a casual vacancy in the office of director on account of death, resignation, disqualification or for any other reasons, the Board may fill up the casual vacancy for the remaining term by option from the eligible members: Provided that no such option shall be made if the remaining period of such vacancy is less than six months.
View Complete Act List Judgments citing this sectionKarnataka Souharda Sahakari Act, 1997 Section 28
Title: Election of Office Bearers
State: Karnataka
Year: 1997
(1) The Chief Executive shall within fifteen days from the date of election of the board and immediately before the expiry of the term of office of the President or Chairperson, Vice--President or Vice--Chairperson convene a meeting in the prescribed manner of all the elected members of the board for the purpose of electing President or Chairperson, Vice--president or Vice--Chairperson and such other office bearers as are required to be elected under the bye--laws of the Co--operative. One of the elected members who is not a candidate for the election of President or Chairperson, Vice--President or Vice--Chairperson, shall be chosen to preside over such meetings: Provided that at the election of the office bearers held immediately after registration of a Co--operative, one of the elected directors who is not a candidate for the election of the office bearers, shall be chosen to preside over the meeting of the first Board: Provided further that at the election of office bearers if all the elected directors are the candidates, the Chief Executive shall preside over such meeting of the Board. (2) The President or Chairperson or in his absence, the Vice President or Vice--Chair
View Complete Act List Judgments citing this sectionKarnataka Souharda Sahakari Act, 1997 Section 27
Title: Powers and Functions of the Board
State: Karnataka
Year: 1997
Subject to the provisions of this Act, rules and bye--laws, the board shall have powers,-- (a) to admit and remove members; (b) to elect and remove the office bearers; (c) to appoint and remove the Chief Executive; (d) to fix staff strength; (e) to frame policies concerning the organisation and services to members; (f) to frame regulations regarding,-- (i) custody and investment of funds; (ii) maintenance of accounts; (iii) mobilisation, utilisation and investment of various funds; (iv) appropriate management information systems including filing of statutory returns; (v) such other matters as may be necessary for the effective performance of the Co--operative; (g) to place the annual report, annual financial statements, annual plan and budget for the approval of the general body; (h) to consider audit and compliance reports and place them before the general body; (i) to review membership in other Co--operatives; (j) to perform such other functions as may be delegated by the general body or as specified in the bye--laws.
View Complete Act List Judgments citing this sectionKarnataka Souharda Sahakari Act, 1997 Section 26
Title: Election of Board
State: Karnataka
Year: 1997
.....the board and the chief Executive shall arrange to hold such a meeting.] (2) Where the board does not take necessary action to conduct elections to the board before the expiry of the term of directors,1[the Registrar] Co-operative shall appoint an Administrator immediately for a period not exceeding three months to conduct such elections. (3) The elections of the directors shall be held at the general meeting by secret ballot. (4) The newly elected directors shall assume office immediately at the expiry of the term of office of the outgoing directors. ______________________________________ 1. Substituted by Act 21 of 2004 w.e.f. 31.3.2004. 2. Inserted by Act 21 of 2004 w.e.f. 31.3.2004.
View Complete Act List Judgments citing this sectionKarnataka Souharda Sahakari Act, 1997 Section 25
Title: Disqualification for Being Elected or Continued as Director
State: Karnataka
Year: 1997
.....of the year, or requisitioned meeting of the general body within the time stipulated in section 30; or (c) have not placed the audited accounts for the preceeding year along with the report of the auditor before the annual general meeting. (3) A director or an employee who is guilty of misappropriation, breach of trust or any other omission or commission resulting in loss to theCo-operative, shall be personally liable to make good that loss without prejudice to such criminal action to which he is liable under any other law for the time being in force. ______________________________________ 1. Substituted by Act 21 of 2004 w.e.f. 31.3.2004. 2. Inserted by Act 21 of 2004 w.e.f. 31.3.2004.
View Complete Act List Judgments citing this sectionKarnataka Souharda Sahakari Act, 1997 Section 24
Title: Board
State: Karnataka
Year: 1997
(1) Every Co--operative shall have a board consisting of such number of directors as may be specified in the bye--laws. In case of primary Co--operatives, such number shall not be less than nine and more than fifteen excluding the Chief Executive. (2) The term of office of the directors shall be five years from the date of assuming office and the election shall be held for the entire board. Explanation.--Where the election to the board has been held in the middle of the year, the remaining part of the year shall be deemed to be a full year.
View Complete Act List Judgments citing this sectionKarnataka Souharda Sahakari Act, 1997 Section 23
Title: General Body
State: Karnataka
Year: 1997
.....Any reference in this Act to the general body shall apply to the representative general body also. (3) Subject to the other provisions of this Act, rules and the bye--laws, the following matters shall be dealt with by the general body namely:-- (a) consideration of the annual report presented by the board; (b) appointment and removal of auditors, Chartered Accountants and internal auditors; (c) consideration of the auditor's report and audited statement of accounts; (d) consideration of audit compliance report; (e) disposal of net profit; (f) review of operational deficit, if any; (g) approval of the long term perspective plan and the annual operational plan; (h) approval of the annual budget; (i) creation of specific reserves and other funds as specified in the bye--laws; (j) review of actual utilisation of reserve and other funds; (k) election of directors of the board; (l) removal of directors of the board and filling up of casual vacancies; (m) report on action taken on inquiry report under section 37, if any; (n) report on membership of the Co--operative in other Co--operatives; (o) review of annual report and accounts of any organisation.....
View Complete Act List Judgments citing this sectionKarnataka Souharda Sahakari Act, 1997 Section 21A
Title: Nominal and Associate Members
State: Karnataka
Year: 1997
.....shall not be entitled to any share in any form whatsoever in the assets or profits of the Co-operative and shall not be entitled to become an office-bearer of the Co-operative. (3) An associate member may hold shares but shall not be entitled to become an office-bearer of the Co-operative. (4) A nominal or associate member shall not have the right to participate in the management and to vote at any meeting of the Co-operative including the election to the board of the Co-operative. (5) Save as provided in this section, a nominal or associate member shall have such privileges and rights of a member and be subject to such liabilities of a member as may be specified in the bye-laws of the Co-operative.] ______________________________________ 1. Inserted by Act 21 of 2004 w.e.f. 31.3.2004.
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