Article 243ZM – 243ZP

Article 243ZM – Audit of accounts of co-operative societies

1. The Legislature of a State may, by law, make provisions with respect to the maintenance of accounts by the co-operative societies and the auditing of such accounts at least once in each financial year. 
2. The Legislature of a State shall, by law, lay down the minimum qualifications and experience of auditors and auditing firms that shall be eligible for auditing accounts of the co-operative societies.
3. Every co-operative society shall cause to be audited by an auditor or auditing firms appointed by the general body of the co-operative society:
   • Provided that such auditors or auditing firms shall be appointed from a panel approved by a State Government or an authority authorized by the State Government in this behalf.
4. The accounts of every co-operative society shall be audited within six months of the close of the financial year to which such accounts relate.
5. The audit report of the accounts of an apex co-operative society, as may be defined by the State Act, shall be laid before the State Legislature in the manner, as may be provided by the State Legislature, by law.

Article 243ZN – Convening of general body meetings

The Legislature of a State may, by law, make provisions that the annual general body meeting of every co-operative society shall be convened within a period of six months of close of the financial year to transact the business as may be provided in such law.

Article 243ZO – Rights of member to get information

1. The Legislature of a State may, by law, provide for access to every member of a co-operative society to the books, information and accounts of the cooperative society kept in regular transaction of its business with such members.
2. The Legislature of a State may, by law, make provisions to ensure the participation of members of the management of the co-operative society providing minimum requirement of attending meetings by the members and utilizing the minimum level of services as may be provided in such law.
3. The Legislature of a State may, by law, provide for co-operative education and training for its members.

Article 243ZP – Returns

1. Every co-operative society shall file returns, within six months of the close of every financial year, to the authority designated by the State Government including the following matters, namely: –
   • annual report of its activities;
   • its audited statement of accounts;
   • plan for surplus disposal as approved by the general body of the co-operative society;
   • list of amendments to the bye-laws of the co-operative society, if any; (e) declaration regarding date of holding of its general body meeting and conduct of elections when due; and
   • any other information required by the Registrar in pursuance of any of the provisions of the State Act.