Section 44
Duties and powers of the Board
of Co-Operative Societies Act 1993
The Board of a co-operative society shall represent the co-operative society before all competent public authorities and in all dealings and transactions with third persons, shall have power to institute or defend suits brought in the name of the co-operative society and, in general, shall direct, manage and supervise the business or activities, the funds and the property of the co-operative society, and shall exercise all the necessary powers to ensure the full and proper administration and management of the affairs, business or activities of
Co-operative Societies 39
the co-operative society including, and notwithstanding the generality to the above, the business or activities of the co-operative society as required under the regulations, except those powers reserved for the general meeting of members or delegates.
(2)
Any member of the Board of a co-operative society who fails to comply with subsection (1) commits an offence and shall, on conviction, be liable to a fine not exceeding two hundred thousand ringgit.
Disclosure of interest in Islamic financing or credit facility by members of the Board or chief executive officer