Powers, Duties and Functions of Committee

138. The Committee shall have the following powers, duties and functions: (a) To accept deposits and raise funds for the Society; (b) To fix the rates of maintenance charges, service charges and other dues payable by Members; (c) To raise funds from financial institutions for the purposes of the Society; (d) To invest the surplus funds of the Society in accordance with Section 70 of the Act; (e) To admit new Members and consider applications for transfer of Membership; (f) To accept resignations from Membership; (g) To record nominations made by Members; (h) To inspect flats and issue notices for repairs; (i) To process applications for transfer of shares and interest, mutual exchange, leave and licence and other matters; (j) To determine and recover dues from Members; (k) To issue share certificates to Members; (l) To hold at least one meeting every month; (m) To fill casual vacancies in the Committee; (n) To accept resignations of Committee members and office bearers; (o) To arrange for the statutory audit of the Society's accounts; (p) To arrange for the execution of the conveyance deed in favour of the Society; (q) To maintain and upkeep the property of the Society; (r) To insure the property of the Society; (s) To conduct elections before the expiry of the term of the Committee; (t) To deal with complaints of Members and take remedial action; (u) To prepare and submit the annual report and accounts to the General Body; (v) To implement the decisions of the General Body; (w) To maintain all books, registers and records of the Society; (x) To appoint and supervise Society staff; (y) To fix the agenda and convene General Body Meetings; (z) To carry out all other acts and things necessary for the proper management of the affairs of the Society in accordance with the Act, the Rules and these bye-laws.