What are General Body Meetings?
Annual General Body (AGM) & Special General Body (SGM) Meetings
A lot of society members and management committee have been talking to us about general body meetings and its process. We therefore thought to shed some light on this topic.
As you know AGM and SGM both are very important event for the co-operative society where its members takes part and take decision for the welfare of the society and its members it takes and center stage for any co-operative governance activity.
So what are the Differences?
Sr. No Annual General Body Meeting Special General Body Meeting 1 Every society shall within a period of four months after close of the financial year, get its book of accounts audited and within six month after the close of the financial year should call the annual general body meeting of the society as provided under section 75(1) of the MCS act 1960.
Before 30th Sept of every year.
A Special general body meeting of the society may be called at any time at the instance of the chairman or by the decision of the majority of the committee. And shall be called within one month of the date of the receipt or requisition in writing signed by at least 1/5th of members of the society or from the registering authority or from housing federation to which the society is affiliated. 2 Meeting Business - The meeting shall transact the business other than mentioned in notice of the meeting. But such other contingency points require permission of the chairman of the meeting. The meeting shall not transact the business other than mentioned in notice of the meeting. 3 Notice period – 14 clear days Notice with agenda should give to all members. 5 clear days Notice with agenda should give to all members.
What are its similarities?
There process in which any General Meeting is to be conducted does not changes with its type. So you will always see following similarities in prescribed law while conducting an Meeting.
1 Quorum – 2/3rd of the total number of member of the society or 20 whichever is less 2 Chairman of meeting – The chairman of the society shall preside over all general body meeting of the society, provided that if the chairman is absent or if present and is unwilling to preside, the members present may elect a person from among themselves to preside over it. 3 Attendance for the meeting - No Proxy or a power of attorney holder or letter of authority shall be eligible to attend a general body meeting of the society on behalf of a member of the society. 4 Voting rights – One member –One vote – At a GB meeting of the society, every active/primary member of the society and in his/her absence, his/her associate member shall have one vote only. In case of equality of votes, the chairman of the meeting shall have casting vote. If same owner holding more than one flat in society then he will entitled for one vote. 5 Minute’s preparation and circulation – Society MC should finalize GB meeting minutes within 3 months of the date of the meeting & Circulate it to all society members within a 15 day from the date of approval in MC meeting. 6 Holding Adjourned meeting - If within half an hour after the time appointed for general body meeting of the society there is no quorum, the meeting , if convened upon the requisition of the member shall be dissolved.
In any other case, It shall be adjourned to a later hour on the same day and at the same place, as may have been specified in the notice, calling the general body meeting of the society or to a subsequent date not earlier than 7 days and not later than 30 day and at such adjourned general body meeting, the business on the agenda of the original general body meeting shall be transacted, whether there is requisite quorum or not.
7 Passed resolution cancellation – No resolution can be brought at a general body meeting of the society, Cancelling its previous resolution, unless 6 clear months have expired after passing of the previous resolution. 8 Video recording of meeting – It is recommended to do video recording. It will avoid unnecessary friction between society members.
How to call General body meeting?
Management Committee should passed resolution for proposed general body meeting & decided Agenda, Time and Place and accordingly circulate notice on email, sms or register AD if require.
Management committee also can circulate audit report, society annual report or any other supportive document which require informing all the society members.
Prepare member attendance sheet or simply ask member to write down their names in proceeding book kept at entrance of venue.
Make sure all the necessary records, material are ready before AGM/SGM. You can refer list of document, material you might require. Plz check Minutes template.
As per the society bye laws here we have attached sample template for minutes of meeting for General Body and Agenda notice template. You can download it by clicking below buttons.Download Agenda Notice Template Download AGM Minutes Template
If you have found this write-up to be helpful or you are require any further assistance write us on email@example.com and we will be glad to assist you with your society governance.