Supervisory Committee

1. Section 2 (a) of the Co-operative Society Act, No. 12 of 1997 (as amended in 2004) has the following simple definition:-
2. "Supervisory Committee" means an oversight committee elected at a General Meeting.
3. ESTABLISHMENT
4. The Supervisory Committee is established under Rule 28 of the Co-operative Society Rules (Legal Notice No. 123 of 2004) which states as follows:-
5. 28. (1) Every society shall have a supervisory committee consisting of three members
6. each elected at a general meeting for a period of three years and one member of the
7. the supervisory committee shall retire annually.
8. (2) Notwithstanding the provision of sub-rule (1), any member of the supervisory

a) The members of the Supervisory Committee shall meet the same qualifications as those of the members of the Management Committee

b) In addition at least one member of the committee shall have basic bookkeeping, accounting, auditing or financial management knowledge. Where no such person is elected, those elected may be taken for basic accounting training.