Q.Explain the powers, functions, and duties of the managing committee of a co-operative society.

The committee is the working engine of the society, with powers covering almost every part of running it between general meetings, but exercised as a trustee for the members.

The managing committee is the working engine of a co-operative society, and its powers and duties cover almost every aspect of running the society between general meetings — always, however, within the framework of the Act, the bye-laws, and the decisions of the general body. Its functions are conveniently grouped under a few heads.

In matters of general management, the committee is responsible for carrying on all the ordinary business of the society and for giving effect to the objects for which it was formed. It admits new members and deals with the cessation, resignation, or expulsion of members in accordance with the bye-laws; it manages the property and assets of the society; and it takes the routine business decisions needed to keep the society working from day to day.

In financial management, the committee handles the funds of the society. It arranges the collection of share capital, deposits, and other dues; it sanctions loans, advances, expenditure, and investments within the limits fixed by the bye-laws and by the general body; it operates the society's bank accounts through the authorised office-bearers; and it prepares the annual accounts and balance sheet for placing before the general body. It is also the committee's duty to arrange for the audit of the accounts and to attend to the rectification of the defects pointed out in audit.

In administrative and staff matters, the committee appoints, supervises, and where necessary disciplines the paid employees of the society, and it elects or appoints the office-bearers — the chairman, secretary, and treasurer — and supervises their work. It calls the general meetings of the society, both the annual general meeting and, when required, special general meetings, prepares the agenda, and implements the resolutions passed by the general body. …