Information, Records and Examination of Accounts of association or society

Information, Records, and Examination of Accounts of association or society

To maintain records of decisions

Every association or society has to maintain updated records of the meetings of, and activities carried out by, it's general meeting, board, accounts committee and sub-committees.

Accounts and other records

Every association or society has to maintain records of accounts of all transactions carried on by it and other necessary records as prescribed.

Submission of information

Every association or society has to submit an annual report of its transactions and audit report as well as a report including the following details to the Registrar or official designated by him/her within the prescribed time each year:

(a) Policy and plan set in respect of saving description,

(b) List of names of directors and their remaining tenure,

(c) Fixed date of the meeting of the general meeting, and

(d) Such other details as prescribed by the Registrar from time to time.

Powers to inquire

(1) If at least five percent members of an association or society make an application mentioning that the association or society is not functioning satisfactorily, the Registrar may him/herself inquire into the matter or get such inquiry held by any officer empowered in writing to that effect.

(2) In the event that the business transaction of any association or society does not appear satisfactory, the Registrar may him/herself inquire into the matter or get such inquiry held by any official.

(3) It shall be the duty of every member and employee of the association or society to render assistance in every respect by providing such information as sought while holding the inquiry by the Registrar or the officer authorized by him/her pursuant to Sub-section (1) or (2).

(4) An information of the results of an inquiry held pursuant to Sub-section

(1) or (2) shall be given in writing to that association or society.

Powers to make inspection and give suggestions

(1) The Registrar or official authorized by him/her may inspect the association or society.

(2) If in making the inspection pursuant to Sub-section (1), it is not found that provisions of this Act or the Rules framed under this Act or Bye-law have not been complied with, the concerned official may give necessary suggestions to make provisions pursuant to the Act, Rules or Bye-law.

Examination of accounts

(1) Every association or society has to get its accounts of every fiscal year examined by any registered auditor recognized by the Registrar or official designated by him/her within three months after the expiration of that fiscal year.

(2) Notwithstanding anything contained in Sub-section (1), the general meeting of the concerned association or society may, with the approval of the Registrar, appoint a registered auditor and cause the accounts of that association or society to be examined by such auditor.

(3) In appointing an auditor pursuant to Sub-section (2), the same person or company may not be appointed for more than three consecutive times.

(4) A report on examination of accounts has to be submitted to the general meeting and got endorsed.

(5) If the general meeting does not endorse the report on examination of accounts submitted to the general meeting pursuant to Sub-section (4), the general meeting may appoint another auditor and have an inquiry held or accounts reexamined.

(6) The remuneration and facilities of the auditor shall be as determined by the general meeting.