CAP. 33]
[r. 64 cont.]
Unfit officer.
Reserve fund.
Audit of accounts.
Co-operative Societies.
(c) to place to the account of the registered society in such bank as may be approved by the Registrar any amount in his hands in excess of the amount fixed from time to time by the committee;
(d) to keep separate all moneys belonging to the registered society and on no account to mix them with any other moneys; to produce at all times when called upon to the committee, the Registrar or any person authorized by him, all moneys in his hands belonging to the registered society; and
(e) to keep a record on the prescribed form of all moneys received by him from the secretary and of all moneys paid to the secretary.
65. If in any society, in the opinion of the Registrar, any member of the committee or other officer is unfit for the discharge of his duties, the society shall, on the requirement of the Registrar, dismiss him.
66. (1) The reserve fund of a registered society, created in pursuance of the provisions of subsection (1) of section 34 of the Ordinance, may, with the sanction of the Registrar-
(a) be utilized in the business of the registered society;
or
(b) be applied to meet occasional deficiencies incurred by the registered society.
(2) In sanctioning the utilization or application of the reserve fund under paragraph (1) of this rule, the Registrar may impose such terms and conditions as he may deem fit.
67. In pursuance of the provisions of section 35 of the Ordinance, the accounts of every registered society shall be audited once at least in every year by some person authorized by the Registrar. Such person shall have access to all the books and accounts of the registered society and shall examine every balance sheet and annual return of the receipts and expenditure, funds and effects of the registered society, and shall verify the same with the accounts and vouchers relating thereto, and shall either sign the same as found by him to be correct, duly vouched and in accordance with the Ordinance, and shall report to the Registrar accordingly, or shall specially report to the Registrar in
206
CAP. 33]
[r. 64 cont.]
Unfit officer.
Reserve fund.
Audit of accounts.
Co-operative Societies.
(c) to place to the account of the registered society in such bank as may be approved by the Registrar any amount in his hands in excess of the amount fixed from time to time by the committee; (d) to keep separate all moneys belonging to the registered society and on no account to mix them with any other moneys; to produce at all times when called upon to the committee, the Registrar or any person authorized by him, all moneys in his hands belonging to the registered society; and
(e) to keep a record on the prescribed form of all moneys received by him from the secretary and of all moneys paid to the secretary.
65. If in any society, in the opinion of the Registrar, any member of the committee or other officer is unfit for the discharge of his duties, the society shall, on the requirement of the Registrar, dismiss him.
66. (1) The reserve fund of a registered society, created in pursuance of the provisions of subsection (1) of section 34 of the Ordinance, may, with the sanction of the Registrar-
(a) be utilized in the business of the registered society;
or
(b) be applied to meet occasional deficiencies incurred
by the registered society.
(2) In sanctioning the utilization or application of the reserve fund under paragraph(1) of this rule, the Registrar may impose such terms and conditions as he may deem fit.
67. In pursuance of the provisions of section 35 of the Ordinance, the accounts of every registered society shall be audited once at least in every year by some person authorized by the Registrar. Such person shall have access to all the books and accounts of the registered society and shall examine every balance sheet and annual return of the receipts and expenditure, funds and effects of the registered society, and shall verify the same with the accounts and vouchers relating thereto, and shall either sign the same as found by him to be correct, duly vouched and in accordance with the Ordinance, and shall report to the Registrar accordingly, or shall specially report to the Registrar in
206
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