Governance of NEWSUN
LEGAL SATATUS OF NEWSUN:
NEWSUN is an Mircro-finance services organization, which is licensed under the Microcredit Regulatory Authority (MRA) of the Government of Bangladesh. License No- 202101105.
Also NEWSUN is a non-governmental organization registered under the law of The Voluntary Social Welfare Agencies (Registration and Control) Ordinance 1961 (Ordinance no- XLVI of 1961) in the Government of Bangladesh. Registration number DSS- Khulna-522.
NEWSUN follows two-tier governance system. One is General Committee (GC) and the other is Executive Committee (EC).
General Committee (GC):
The General Committee is the highest administrative tier of the organization. This committee elects the Executive Committee. The General Committee consists of 17-30 members. The members of this committee are known as General Members of the organization.
- Electing members of the Executive Committee
- Approving yearly budget and drafting annual reports
Power of General Committee:
The members of the General Committee are authorized to amend, change and make necessary addition and subtraction to the constitution or repeal the constitution and formulate a new constitution.
Executive Committee (EC):
The Executive Committee consists of 7 members who are elected by the General Committee. The Executive Committee is the competent authority for the formulation of organizational policies. The Executive Director of the organization is appointed by the Executive Committee. He is the Chief Executive Officer of the organization.
Functions of Executive Committee:
- To approve all plans and policies of the organization
- To approve any type of program, activities and projects of the organization
- To approve yearly income & expenditure account
- To approve annual report
- To accord and withdraw General Committee membership, Executive Committee membership and honorary membership
- Appointing election commission prior to expiry date of the Executive Committee
- To take necessary legal action in the interest of the organization
- To fix admission fees and monthly contribution for General Committee members
- To take any decision deemed necessary for organizational management
- If the Executive Committee deems it necessary to hold election before expiry date of the committee, it will appoint election commission accordingly for holding the election within the tenure of the existing committee. In case of failure or expression of inability on the part of the Election Commission to complete the election process within scheduled time or Executive Committee’s loss of confidence in the Election Commission, the Executive Committee will appoint a new election commission, etc.
Power and Jurisdiction of Executive Committee:
- The Executive Committee will take decisions on the basis of the opinion of the majority
- The Executive Committee is authorized to take any action to tackle the situation in the interest of the organization
- To ascertain the designation of the Executive Director
- With the approval of two-thirds members, the Executive Committee is authorized to sell the land and after getting the approval the Secretary can registry the land. Other assets owned by the organization can be sold as per the approved policy of the approved Executive Committee
- The Executive Committee can fix up the fiscal year
- The Executive Committee will appoint an auditor for auditing the organizational accounts at the end of the Fiscal Year, but the Secretary/Executive Director will appoint the auditor to audit the accounts of different projects. Besides, registered authorities may conduct audits as per necessity, and so forth.