Business of Credit Union

PRESENT ACT- CO-OPERATIVE SOCIETY ACT 81:03 Powers of the Commissioner for Co-operative: The present demonstrate allows the Commissioner for Co-operative to need general powers of supervision. Some of these powers include holding an run into the constitution, operations and financial position of the fiat. He may after holding an inquiry s block a invoice to the hunting lodge to remedy the situation within deuce-ace months from the date of the notice. If the partnership does not remedy the situation the Commissioner fucking give the wantonness of the board and he would appoint soulfulnesss to set the affairs of the fellowship. He may take stock the books, accounts, records and securities of a society. He is entitled to inspect cash in moot and should there be all other information he requires every officer of a society shall furnish him with much(prenominal) information respecting the operation and proceedings of a society. He may also cancel the alteratio n of any society should he think fit. If a society amends its bye-laws it cannot take power until approved by the Commissioner. If the commissioner issues a winding up order he will sacrifice powers of a liquidator. The Commissioner has the responsibility of auditing the accounts of the society within two months of the end of the fiscal year. If this cannot be through by the Commissioner he may authorize a person to do so.

KARON not legitimate where this fits in 49. (1) There shall be constituted a fund to be called The Supervisory and visit Fund, (hereinafter called the Fund) and every society, the a ccounts of which have been audited by the C! ommissioner or a person authorised by him shall when called upon to do so by the Commissioner, make annually a contribution to the Fund. (2) Until much(prenominal) time as a society for supervision and audit has been naturalised and registered (a) the Fund shall be held by the Commissioner and administered by him on behalf of the contribute societies; (b) the Commissioner shall fix the amount of the annual...If you want to get a broad essay, order it on our website: BestEssayCheap.com

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