In forceAmended2020 Revised Edition

Contents

Co-operative Societies Act 1979 · 2020 Revised Edition · Part 5 · Organisation and Management of Societies

54. Functions of annual general meeting

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Amended

Last amended by an amending law of 2024. 2 amendments in all.

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;

(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;

(db)

to consider and resolve the payment of any honorarium, allowance or other benefit to members of the committee of management;

(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.

Terms defined in s 2

allowance
Defined · s 2
“allowance” means the remuneration paid to a member of the committee of management of a society in consideration of the member’s voluntary services rendered to the society on a regular basis;
Open s 2
auditor
Defined · s 2
“auditor”, in relation to a society, means any person referred to in section 33(1) or 36(4)(b);
Open s 2
by-laws
Defined · s 2
“by-laws” means the registered by-laws made by a society in the exercise of any power conferred by this Act, and includes a registered amendment of the by-laws;
Open s 2
committee of management
Defined · s 2
“committee of management” means the governing body (by whatever name called) of a society which is responsible for the management of the affairs of the society;
Open s 2
honorarium
Defined · s 2
“honorarium” means a portion of the net surplus or the reserves (if approved under section 72A) of a society distributed among some or all of the members of the committee of management in consideration of their services which would not otherwise be remunerated;
Open s 2
net surplus
Defined · s 2
“net surplus” means the remaining portion of the surplus after provisions have been made for the Central Co-operative Fund and the Singapore Labour Foundation in accordance with section 71;
Open s 2
Registrar
Defined · s 2
“Registrar” means the Registrar of Co‑operative Societies appointed under section 3(1), and includes a Deputy Registrar, an Assistant Registrar, or a public officer appointed under section 3(1), exercising such function, duty or power of the Registrar as is delegated to the Deputy Registrar, Assistant Registrar or public officer (as the case may be) under section 3(2);
Open s 2
reserves
Defined · s 2
“reserves” means the assets of a society that are in excess of its liabilities, paid-up share capital, subscription capital and other deposits;
Open s 2
society
Defined · s 2
“society” means a co-operative society registered under this Act and includes a primary society, a secondary society and an apex organisation;
Open s 2

Report

Read on from s 55

Part 6

Property and Funds of Societies

Read on from Part 6

Part 7

Amalgamation and Transfer

Read on from Part 7

Part 8

Duties and Powers of Registrar

Read on from Part 8

Part 9

Miscellaneous

Read on from Part 9