BPWCCUL By-Laws Review 2025 – FINAL VERSION 45 EXISTING BY-LAW PROPOSED CHANGE RATIONALE By-law 56(2) Any member of the Supervisory Committee shall in addition to By-Law 41, be deemed to have vacated his office if he fails to perform any of the duties allotted to him as a member of the Committee. By-law 56(2): No changes By-law 56(3) A vacancy on the Committee shall be filled by the remaining members of the Committee who may appoint a qualified member until the next Annual General Meeting at which a member shall be elected to fill the vacancy for the unexpired term. By-law 56(3): No changes By-law 57 The Supervisory Committee shall choose from its number a Chairman and a Secretary. These offices shall not be held by the same person. By-law 57: No changes By-law 58 (1) The Supervisory Committee shall meet at least once a month to perform the duties as provided in the Act, regulations and By-Laws and to: a) appraise the policies and operating procedures and make any recommendations to the Board and to the Credit Committee; b) confirm the cash instruments, property and securities of the Society; c) monitor the management of the Society; d) verify the assets of the Society and monitor whether the assets are properly protected; By-law 58(1) (1) The Supervisory Committee shall meet at least once a month to perform the duties as provided in the Act, Regulations, Regulator Guidelines and By-laws and to: a) appraise the policies and operating procedures and make any recommendations to the Board and to the Credit Committee; b) monitor the management of the Society; and ensure that all advances, loans, deposits and other transactions involving Directors, committee members and employees, are in keeping with the Amended for better flow
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