Comparison View

Formal Consolidation |  2009 RevEd
Functions of committee of management
61.—(1)  The committee of management shall represent the society before all competent public authorities and in all dealings and transactions with third persons, with power to institute or defend suits brought in the name of or against the society and, in general, direct and supervise the business and property of the society and shall exercise all the necessary powers to ensure the full and proper administration and management of the affairs of the society, except those powers reserved for the general meeting of members and subject to any restrictions duly laid down in a general meeting or in the by-laws.
(2)  Without limiting the generality of subsection (1), the functions of the committee of management are —
(a)to consider and approve or reject applications for membership of the society;
(b)to call for and regularly examine reports from persons employed by the society which will disclose the true position of the society, its operations and financial conditions;
(c)to appoint sub-committees;
(d)to keep members informed of the progress of the society and encourage interest and a sense of ownership on the part of the members;
(e)to present to the annual general meeting of the society an annual report on the activities of the society during the preceding financial year, together with the audited financial statements of the society and the auditor’s report for that year;
(f)to prepare and present to the annual general meeting of the society a proposal for the distribution of any net surplus accrued during the preceding financial year, in accordance with this Act and the by-laws;
(g)to make a report to the annual general meeting of the work of the committee of management during the preceding financial year with such recommendations as it considers necessary to maintain or improve the services provided by the society to its members; and
(h)to consider and take immediate action on matters reported by the Registrar, the audit committee or the auditor.
[23/2008]
(3)  A full and correct record shall be kept of all proceedings of the committee of management in carrying out its duties, and the records shall be available for inspection by the Registrar and by the auditor.
(4)  The committee of management may appoint, on such terms and conditions as it thinks fit, a manager to administer and manage the affairs of the society and may employ such other persons as the committee considers necessary to assist the manager in the discharge of his duties.
Informal Consolidation | Amended Act 3 of 2018
Functions of committee of management
61.—(1)  The committee of management shall represent the society before all competent public authorities and in all dealings and transactions with third persons, with power to institute or defend suits brought in the name of or against the society and, in general, direct and supervise the business and property of the society and shall exercise all the necessary powers to ensure the full and proper administration and management of the affairs of the society, except those powers reserved for the general meeting of members and subject to any restrictions duly laid down in a general meeting or in the by-laws.
(2)  Without limiting the generality of subsection (1), the functions of the committee of management are —
(a)to consider and approve or reject applications for membership of the society;
(b)to call for and regularly examine reports from persons employed by the society which will disclose the true position of the society, its operations and financial conditions;
(c)to appoint sub-committees;
(d)to keep members informed of the progress of the society and encourage interest and a sense of ownership on the part of the members;
(e)to present to the annual general meeting of the society an annual report on the activities of the society during the preceding financial year, together with the audited financial statements of the society and the auditor’s report for that year, and such other documents as the Registrar may direct;
[Act 3 of 2018 wef 10/04/2018]
(f)to prepare and present to the annual general meeting of the society a proposal for the distribution of any net surplus accrued during the preceding financial year, in accordance with this Act and the by-laws;
(g)to make a report to the annual general meeting of the work of the committee of management during the preceding financial year with such recommendations as it considers necessary to maintain or improve the services provided by the society to its members; and
(h)to consider and take immediate action on matters reported by the Registrar, the audit committee or the auditor.
[23/2008]
(3)  A full and correct record shall be kept of all proceedings of the committee of management in carrying out its duties, and the records shall be available for inspection by the Registrar and by the auditor.
(4)  The committee of management may appoint, on such terms and conditions as it thinks fit, a chief executive officer to administer and manage the affairs of the society and may employ such other persons as the committee considers necessary to assist the chief executive officer in the discharge of his duties.
[Act 3 of 2018 wef 10/04/2018]