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Start Free TrialKarnataka Souharda Sahakari Act, 1997 Section 58
Title: Elections
State: Karnataka
Year: 1997
Section 58 - Elections (1) The conduct of elections of the Board of Directors of the Federal Co-operative shall be the responsibility of the incumbent board of the Federal Co-operative. Elections shall be conducted before the expiry of the term of the office of the outgoing directors in the manner specified in the bye-laws.1[The Registrar shall appoint a returning officer for conducting such elections.] (2) The newly elected directors shall assume office immediately after expiry of the term of the outgoing board. (3) Where the number of nominations exceeds the number of directors to be elected, the election of directors shall be by secret ballot. ___________________ 1. Inserted by Act 21 of 2004 w.e.f. 31.3.2004.
View Complete Act List Judgments citing this sectionHINDU RELIGIOUS INSTITUTIONS AND CHARITABLE ENDOWMENTS ACT, 1997 Section 58
Title: Commissioner, etc., to observe appropriate customs, usage's and practices
State: Karnataka
Year: 1997
The Commissioner, the Deputy Commissioner, and Assistant Commissioner and every other person exercising powers or performing functions under the Act shall not interfere with, and shall observe the customs, usages, ceremonies and practices appropriate to the Notified Institution or Declared Institution in respect of which such powers are exercised.
View Complete Act List Judgments citing this sectionFinance Act 1997 Section 58
Title: Amendment of Schedule Iv
State: Central
Year: 1997
In Schedule IV to the Income-tax Act, in Part A, in rule 6, in clause (a), for the word "ten", the word "twelve" shall be substituted with effect from the 1st day of April, 1998.'.
View Complete Act List Judgments citing this sectionKarnataka Souharda Sahakari Act, 1997 Section 63
Title: Accounts
State: Karnataka
Year: 1997
The Federal Co--operative shall maintain the following records and books of accounts, namely:-- (a) the minutes book; (b) registration certificate and a copy of the registered bye--laws and of the amendments registered from time to time; (c) bye--laws of the Federal Co--operative and of each of its member Co--operatives with upto date amendments; (d) accounts of all sums of money received and expended by the Federal Co--operative and the respective purposes; (e) accounts of all purchases and sales of goods by the Federal Co--operative; (f) accounts of the assets and liabilities of the member Co--operatives and the Federal Co--operative; (g) a register showing total membership and the memberwise use of various services; (h) a list of members with voting rights for the current year updated within thirty days of closure of the year; (i) up--to--date copies of the Board resolutions; and (j) annual report and audit report.
View Complete Act List Judgments citing this sectionKarnataka Souharda Sahakari Act, 1997 Section 56
Title: Powers and Functions of the Board
State: Karnataka
Year: 1997
.....Co--operative shall be the authority to exercise all the powers and perform all the functions conferred on the Federal Co--operative under this Act, rules and the bye--laws, and shall have powers,-- (a) to elect the President or Chairperson, Vice--President or Vice--Chairperson and other office bearers; (b) to remove from office the President or Chairperson, or Vice-- President or Vice Chairperson and other 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 the member Co--operatives; (f) to frame regulations regarding,-- (i) custody and investment of funds; (ii) maintenance of accounts; (iii) mobilisation, utilisation and investment of various funds; (iv) monitoring and management of information system including statutory returns to be filed; and (v) such other subjects and matters necessary for the effective performance of the Federal Co--operative; (g) to place the annual report, annual financial statements, and annual plan and budget for the approval of the general body; (h) to consider audit and compliance report and place the reports before.....
View Complete Act List Judgments citing this sectionKarnataka Souharda Sahakari Act, 1997 Section 57
Title: Powers and Functions of President or Chairperson Vice--president or Vice--chairperson and Other Office Bearers
State: Karnataka
Year: 1997
(1) There shall be a President or Chairperson, Vice--President or Vice--Chairperson of the Federal Co--operative elected from amongst the elected members of the Board. (2) The President or Chairperson shall preside over the meetings of the Board and general body of the Federal Co--operative. In the absence of the President or Chairperson, the Vice--President or Vice--Chairperson shall preside over the meetings of the board and general body of the Federal Co--operative. The President or Chairperson shall have only a casting vote in the event of equality of votes on any matter being decided upon by the board except election to the office bearers. The President or Chairperson shall exercise such powers as may be delegated by the board and specified in the policies framed or resolutions adopted by the board. (3) The term of office of the President or Chairperson and Vice--President, or Vice--Chairperson shall be two and half years from the date of election. Explanation.--If the election to the office of President or Chairperson, Vice--President or Vice--Chairperson is held in the middle of the term, the remaining part of the term shall deemed to be a full term.
View Complete Act List Judgments citing this sectionKarnataka Souharda Sahakari Act, 1997 Section 59
Title: Filling Up of Casual Vacancies
State: Karnataka
Year: 1997
(1) Where there is a casual vacancy on account of death, resignation, or disqualification on the board and where,-- (i) there is a quorum of directors, the board shall fillup the casual vacancy by co--option of a member for the remaining term: Provided that such co--option shall not be made if the remaining period is less than six months; or (ii) there is no quorum of directors, the Chief Executive shall immediately take steps to call a general meeting for election of directors to fill up the vacancy for the remaining term.
View Complete Act List Judgments citing this sectionKarnataka Souharda Sahakari Act, 1997 Section 60
Title: Meetings
State: Karnataka
Year: 1997
(1) The number of board meetings and general meetings shall be specified in the bye--laws of the Federal Co--operative: Provided that not less than six board meetings and one general meeting shall be held in a year. (2) The board shall convene a special general meeting within thirty days of receipt of a requisition to this effect from not less than one tenth of members of the Federal Co--operative or as provided in the bye--laws and any such requisition shall contain the reasons for conducting such meeting. (3) In the event of failure by the Federal Co--operative to call such meeting, the Registrar shall convene such general meeting within sixty days of receipt of such a request made to him by not less than one tenth of the members of the Federal Co--operative. (4) The Chief Executive of the Federal Co--operative shall record in the minute's book minutes of all proceedings of every general meeting and of every meeting of the board of the Federal Co--operative. (5) Such minutes shall be communicated to all persons invited for the meeting within thirty days of the conclusion of the meeting. (6) The minutes so recorded shall be signed by the person who chaired the said m
View Complete Act List Judgments citing this sectionKarnataka Souharda Sahakari Act, 1997 Section 61
Title: Employees of the Federal Co--operative
State: Karnataka
Year: 1997
.....other negotiable instruments and operate the bank accounts of the Federal Co--operative; (d) be responsible for appointment of employees and to ensure discipline, performance and welfare; (e) be the person to enter into agreements or contracts on behalf of the Federal Co--operative; (f) arrange to maintain proper records and accounts of the Federal Co--operative; (g) present the draft annual report and financial statements for the approval of the board within the time stipulated in the bye--laws; (h) convene the board meetings and general body meetings in consultation with the President or Chairperson, in accordance with the bye--laws and record the proceedings thereof; (i) assist the board in the formation of policies and plans; (j) be responsible to the board; (k) furnish to the board information necessary for monitoring the performance of the Federal Co--operative; (l) furnish registers and accounts at the time of audit by the auditor or by the Chartered Accountant; and (m) perform any other function authorised by a resolution of the board and general body.
View Complete Act List Judgments citing this sectionKarnataka Souharda Sahakari Act, 1997 Section 65
Title: Inquiry
State: Karnataka
Year: 1997
.....in writing he may issue a shorter notice. (3) The inquiry shall be completed as far as may be within a period of six months from the date of order of the inquiry. However, such period may be extended by six months under extraordinary circumstances. (4) The Registrar shall, within a period of one month from the date of conclusion of the inquiry, send a copy of the inquiry report to the Federal Co--operative and to the applicant. (5) For the purpose of inquiry under this Act, the Registrar,-- (a) may require in writing the President or Chairperson, Vice--President or Vice--Chairperson, or any Director, office bearer or officer or any other authority concerned to produce such receipts, vouchers, statements, returns, correspondences, notice or any other documents as he may consider necessary for the purpose of inquiry; (b) shall, at all times, have free access to the books, accounts, documents, securities, cash and other properties belonging to or in the custody of the Federal Co--operative and may summon any person in possession or responsible for the custody of any other properties to produce the same at any public office or at the head quarters of the Federal.....
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