Section 19 - Amendment of section 50 - Multi-State Co-operative Societies (Amendment) Act, 2023

Amendment of section 50. 19 . In section 50 of the principal Act, (a) in sub-section (1), the following provisos shall be inserted, namely: Provided that where such Chairperson or President fails to direct the Chief Executive to convene the meeting of the board within the quarter, such Chief Executive shall convene the meeting on the basis of requisition of the Vice-Chairperson or Vice-President or any other Member of the board: Provided further that notwithstanding anything contained in the first proviso, the Chief Executive may also convene the meeting on the basis of requisition from at least fifty per cent. of Members of the board; ; (b) for sub-section (3), the following sub-sections shall be substituted, namely: (3) The Chairperson or President, if for any reason, is unable to attend a meeting of the board, the Vice-Chairperson or Vice-President and in the absence of both, any other Member of the board chosen by the Members of the board present from amongst themselves at the meeting, shall preside over the meeting. (4) The quorum for a meeting of the board of directors of a multi-State co-operative society shall be one-third of its total number of elected directors. .