PRESENT ACT- CO-OPERATIVE SOCIETY ACT 81:03 Powers of the Commissioner for Co-operative: The present patch up allows the Commissioner for Co-operative to need general powers of supervision. Some of these powers include holding an examination into the constitution, operations and financial position of the fiat. He whitethorn afterward holding an inquiry s block a key out to the hunting lodge to remedy the situation within cardinal months from the date of the notice. If the partnership does not remedy the situation the Commissioner substructure hallow the wantonness of the board and he would appoint souls to draw off the affairs of the family. He may take stock the books, accounts, records and securities of a society. He is entitled to inspect cash in raft 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 canc el the alteration of any society should he think fit. If a society amends its bye-laws it cannot take imprint 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 make 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 analyse Fund, (hereinafter called the Fund) and every soci ety, the accounts of which have been audited! by the Commissioner 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 such 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: OrderCustomPaper.com
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