Login : Advocate | Client
Home Post Your Case My Account Law College Law Library

Co-Operative Societies Act 2008

16. Supervisory committee

For the purposes of sections 62 to 68 of the Act and subject to the Act and bylaws, the Supervisory Committee shall—

a.      meet after the first Annual General meeting and after each annual general meeting of the society, as soon as is reasonable, to organize for the current year;

b.     appraise the policies and operating procedures of the society and make recommendations to the Board and to the Credit Committee;

c.      attest to the monthly and annual returns filed in compliance with sections 124 and 141 of the Act;

d.     determine periodically and not less than once every quarter whether the provisions of the Act, Regulations, by-laws and relevant policies have been complied with—

              i.         in making of loans including loans to officials, business loans and loans to organizations, associations and corporations;

             ii.         in respect of any overdrawing from deposit accounts;

            iii.         in administration of members’ accounts; and

            iv.         in the maintenance of the minutes of meetings the Board and Credit Committee;





e.      receive and investigate complaints made by members of the society about the management of the society;

f.      monitor the management of the society;

g.     ensure that the society complies with the Act, Regulations and bylaws; and

h.      verify the assets of the society and monitor whether the assets are properly protected.

Co-Operative Societies Act 2008 Back

Client Area | Advocate Area | Blogs | About Us | User Agreement | Privacy Policy | Advertise | Media Coverage | Contact Us | Site Map
powered by nubia  |  driven by neosys