Miscellaneous

46. The accounts of the Federation shall be audited at least once a year by the person appointed by competent authority under the Act and Federation shall pay such audit fee as may be assessed from time to time, by the authority competent to do so.

47. The services of the members of the Board of Directors, the Executive Committee and Administrative Committee except the Managing Director and Chairman (when appointed by the Government) shall be honorary but they may be paid traveling and daily allowance on a scale approved by the Registrar. Payment of honorarium will disqualify a Director.

48. In the conduct of the affairs of the Federation, the Board of Directors, Executive Committee and Officials of the Federation shall exercise prudence and diligence of ordinary men of business.

49. The reserve fund of the Federation shall be indivisible and no member shall be entitled to claim a specified share in it, it shall be invested and utilized in such manner as the statutory rules notified by Government may specify.

50. Should any doubt arise with regard to the interpretation of these Bye - laws, the matter shall be referred to the Registrar whose decision shall be final.

51. All disputes relating to the business of the Federation shall be disposed of in the manner provided by the Statute governing the Cooperative Societies in Haryana and the rules framed there under.

52. The Federation shall maintain such .books of accounts as are necessary besides those directed by the authority specified in Act, Rules and Bye-Laws.

53. The Federation shall prepare and submit such returns, and statements as the Registrar may, from time to time, specify. Its members shall also submit such returns that the Federation may ask for from time to time.

54. The Federation may, in the event of its unsatisfactory working, be wound up and cancelled by the order of Registrar, in accordance with the law for the time being in force.