144-14A : Composition of the Regulatory Board
The Regulatory Board shall consist of the following members, namely :—
(a)The Registrar, who shall be the Chairman of the Regulatory Board ;
(b)an officer not below the rank of Additional Registrar appointed by the Registrar ;
(c)two retired officers, not below the rank of Deputy General Manager from any co-operative bank to be nominated by the State Government,—
(i)who shall have an experience of at least ten years as officer not below the rank of Deputy General Manager of bank and no disciplinary or any other legal action was taken against them ; and
(ii)one of them shall be retired from the service of bank whose area of operation is entire State and other shall be retired from the service of bank whose area of operation is less than the State ;
(d)one Chartered Accountant, whose name appears on the panel of auditors kept by the Registrar, and having at least ten years of experience of auditing of non-agricultural co-operative credit societies, to be nominated by the State Government ;
(e)four representatives of the non-agricultural co-operative credit societies, who have been awarded “A” audit class in last three consecutive years, to be nominated by the State Government,—
(i)who shall have an experience of at least ten years as director of non-agricultural co-operative credit society and shall not be ineligible for being a member or being appointed or nominated or co-opted or elected as a member of committee of any society as specified in section 73CA ; and
(ii)one of them shall be director of society whose area of operation is the entire State; one of them shall be director of society whose area of operation is not less than a district; and two of them shall be director of society whose area of operation is less than a district.
