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42. Powers and functions of the board.- (1) The board may exercise all such powers as may be necessary or expedient for the purpose of carrying out its functions under this Act.
(2) Without prejudice to the generality of the foregoing power, such power shall include the power --
(a) to admit members;
(b) to interpret the organisational objectives and set up specific goals to be achieved towards these objectives;
(c) to make periodic appraisal of operations;
(d) to appoint a Chief Executive and such other employees of the society (out of the list of persons referred to in section 50) as are not required to be appointed by the Chief Executive;
(e) to make provisions for regulating the appointment of employees of the multi-State cooperative society and the scales of pay, allowances and other conditions of service of, including disciplinary action against, such employees;
(f) to approve annual and supplementary budget;
(g) to acquire or dispose of immovable property;
(h) to raise funds;
(i) to sanction loans to the members; and
(j) to take such other measures or to do such other acts as may be prescribed or required under this Act.
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