54. The functions of the annual general meeting of a society are —
(a)
to consider and confirm the minutes of the last annual general meeting and of any other intervening general meeting;
(b)
to consider the auditor’s report, the reports of the committee of management and any report made by the Registrar or the Registrar’s representative;
(c)
to approve the financial statements;
(d)
to consider and resolve the manner in which any available net surplus is to be distributed or invested subject to the provisions of this Act and the by-laws;
(e)
to consider and adopt any amendments to the by-laws;
(f)
to elect or remove members of the committee of management;
(g)
to appoint the auditors of the society;
(h)
to consider and determine the maximum amount the society may borrow; and
(i)
to transact any other general business of the society of which due notice has been given to members.
[3/2018]
Informal Consolidation | Amended Act 17 of 2024
Functions of annual general meeting
54. The functions of the annual general meeting of a society are —
(a)
to consider and confirm the minutes of the last annual general meeting and of any other intervening general meeting;
(b)
to consider the auditor’s report, the reports of the committee of management and any report made by the Registrar or the Registrar’s representative;
(c)
to approve the financial statements;
(d)
to consider and resolve the manner in which any available net surplus is to be distributed subject to the provisions of this Act and the by-laws;
[Act 17 of 2024 wef 18/07/2024]
(da)
to consider and resolve the distribution of dividends or payment of honoraria from any reserves for which the approval of the Registrar under section 72A has been obtained;
[Act 17 of 2024 wef 18/07/2024]
(db)
to consider and resolve the payment of any honorarium, allowance or other benefit to members of the committee of management;
[Act 17 of 2024 wef 18/07/2024]
(e)
to consider and adopt any amendments to the by-laws;
(f)
to elect or remove members of the committee of management;
(g)
to appoint the auditors of the society;
(h)
to consider and determine the maximum amount the society may borrow; and
(i)
to transact any other general business of the society of which due notice has been given to members.