Co-Operative Societies Act 2008
54. Committees generally
1. Without prejudice to anything contained in sections 50 and 51 the members of the society shall in each year elect a Supervisory Committee which shall perform such duties as are prescribed by the bylaws.
2. Without prejudice to subsection (1), the Board may establish committees for the more efficient management of various aspects of the business or affairs of the society.
3. A committee for the purposes of subsection (2) may consist of members of the Board and other members of the society.
4. No committee of the Board mayŚ
a. fill a vacancy among the directors;
b. declare a bonus or dividend;
c. approve any financial statement of the society;
d. submit to the members any question or matter requiring the approval of members; or
e. make decisions where the Act or the by-laws require a two thirds majority or unanimous vote of the Board.