Bihar Cooperative Societies Rules, 1959 - Cooperative Department ...

proceeding. The Chairman shall put in the meeting the question that the proposed
compromise arrangement be agreed to.
(5) (a) Any creditor present to whom a notice under rule 72 (1) has been
issued, may move an amendment to the proposed arrangement or compromise.
(b) Any creditor desirous of moving an amendment to the proposed
arrangement or compromise shall send to the person issuing the notice under rule
72 a copy of the proposed amendment at least 14 days before the date of the
meeting and such person shall cause copies of such amendment to be sent by
ordinary post or by messenger to each creditor to whom the notice under rule 72
has been sent;
Provided that the Chairman may allow any amendment proposed by a
creditor of which such notice has not been given to be considered in the meeting, if
a majority of the creditors present agree to his being done.
(6) Every amendment to the proposed arrangement or compromise shall
be put up at the meeting in such form as the Chairman considers most convenient
for the purposes of discussion.
(7) (a) Persons present at the meeting shall speak on the question put by
the Chairman or on any amendment in such order as the Chairman may direct.
(b) The Chairman may fix a time-limit for speeches.
(8) (a) The Chairman shall cause minutes to be prepared of the
proceeding of the meeting and shall sign them.
(b) The minutes shall contain the names of all creditors present at the
meeting and the name of each creditor voting for or against the question put the
Chairman or on any amendment.
(9) If the proposed compromise or arrangement is agreed to with or
without modification, the Chairman shall forthwith forward a copy of the minutes
signed by him together with a copy of the draft of such compromise arrangement
to the Registrar.
(10) Creditors on whom notice has been issued under sub-rule (1) of rule
72, may remain present at the meeting and may with the permission of the
Chairman take part in the discussion but shall not be entitled to vote.
(11) Any member of the managing committee, any officer of the society
concerned, the liquidator and any person authorized in writing in this behalf by the
Registrar, may attend the meeting and may, if so required by the Chairman, take
part in the discussion but shall not be entitled to vote.
(12) The Registrar may refer any question for consideration and decision
at the meeting and the Chairman shall put such question to the meeting.
(13) (a) A creditor on whom the compromise or arrangement, if
sanctioned, would be binding, but who is unable to be present in person at the
meeting , may appoint another person as his proxy for such meeting.
(b) Every proxy shall be appointed in such form as may be prescribed by
the Registrar.
(c) The appointment of a proxy shall not be valid unless the form duly filled
in is deposited at the registered office of the society at least 48 hours before the
time fixed for holding the meeting.
(14) The proceeding of any meeting held under these rules shall not be
invalid by reason only of the fact that any notice required to be issued under these
rules was not received by any person.
73. Power to attend Meeting.- The Registrar or any person authorized by
him may attend any meeting of a registered society called in accordance with