- To dispose of an application of becoming a member and to dispose of the application for resignation.
- To dispose of application for purchase of and transfer of shares.
- To make appointments of the Accountants, Estate Manager, Solicitors, Architects, Surveyors, and other required employees of the Society and, to remove them from the designation for some time and to release him and to punish him and to fix their pay scales, qualifications, responsibility and, to frame rules of their service, staff, provident fund, gratuity fund etc. and to put the same under implementation and to ensure once in a year as to whether their securities taken are sufficient and as to whether their guarantors are solvent and existing.
- To prepare the annual reports and accounts and to recommend the General Meeting about the distribution of the profit and to fix the date, time and place of the General meeting and to prepare the agenda of the works to be done in it.
- To check whether the accounts are written up daily and properly. And to give the necessary authority to the Chairman, Honorary Secretary or any member of the Committee to make signature in the same, and to approve the expenses of the works and to check and approve the quarterly ledgers and to approve expenditures and the accounts.
- To check the cash-balance, other securities and other properties of the society and, fix the limit and responsibility of the petty cash to be kept on hand and to fix responsibility of maintaining the account books. Until such responsibilities are fixed, these shall be personal responsibility of the Chairman.
- To make required arrangements for taking the insurance of the sufficient amount for the goods and property of the society and in regard to all other risks.
- If required to appoint sub-committees, and to give necessary authority to them and to assign them the duties.
- To make legal claims, to make defense and to arrive at settlement.
- To form all the necessary administrative rules for the workings of the Society and to put the same under implementation after the consent received of the General meeting.
- To send the representatives of the Committee at the place of the organization wherein the Society has been merged and at other places.
- To hear the complaints and to bring its solution, to make claims, and to make defense and to arrive at compromise (settlement).
- To raise the fund for the work of the society and, to approve the terms for the same or to enter into required agreements and to invest the surplus fund in pursuance of Section 71 of the Co-operative Societies Act.
- After removing the defects stated in the Audit-note within one month and to send its report to the Auditor of the society and to place the audit-note and the rectification report before the General meeting for approval, to provide required accounting and the other statements and information timely.
- To fix the rates of contribution to be taken from the members of the society for providing the facilities etc. from the society and to recover such contribution.
- To provide timely all the details and statements as may be demanded by the Registrar.
- To keep Members’ register updated with current details.
- To provide necessary facility to the authorised verifying officer for checking of the record and, to provide other information and required statements.
- To fix the duties and responsibilities of the Honorary Secretary.
- To call the extra-ordinary general meeting in regard to the demand received as per Section 78 of the Co-operative Societies Act 1961, and to call the Annual General meeting in time.
- To carry out day to day work of the society subject to the objectives, resolutions passed in the General meeting and subject to the laws, and rules and byelaws.
Published by Sanjay Mandavia
Buyers Credit & Suppliers Credit Consultant
// Cooperative Society Compliance, Taxation and Accounting
View all posts by Sanjay Mandavia
4 thoughts on “Duties and Responsibilities of the Managing Committee”
Hope the managing committee does know of the responsibility which is wide in nature.
If chairman is not joint holder of the flat can hold the post in the cosicety
A member can only become committee member and a committee member can only take position. Thus answer is no.
Who can issue No objection certificate in the society , what purpose NOC has to be issued