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Section 106
Work, Duties and Rights of the Management Committee
: The work, duties and rights of the Management Committee shall be as follows:-
(a) The general assembly, committee and accounting supervision committee of the troubled organization or association shall use all the rights they are entitled to use in accordance with this Act, the rules or regulations made under this Act,
(b) Members of the committee of the troubled organization or association, their families, relatives, employees of the organization, other organizations related to the organization or association, employees of the association or company, other persons or organizations who have knowledge of the relevant facts or who are doing business in collusion, including the persons deemed necessary by the management committee. To attend, to interrogate, to take statements, to submit necessary documents,
(c) To study, analyze, account and evaluate the assets and liabilities of the troubled organization or association by collecting accurate details and data,
(d) taking over the property of a distressed institution or association,
(e) To take over the entire management including decisions and records related to the work of the troubled organization or association,
(f) To recover the debt, remaining arrears and other amounts to be recovered by the troubled organization or association by adopting the procedure in accordance with this Act, the rules or regulations made under this Act,
(g) To sell the property under mortgage of the troubled organization or association by auction in accordance with the requirements of this Act, rules or regulations made under this Act,
(h) To sell, use and manage the assets of the troubled organization or association,
(i) Preparing records related to the savings and share amount of members and savers of troubled organizations or associations,
(j) To refund or pay the savings of members and savers,
(k) To exercise all the rights vested in the liquidator in accordance with this Act or the rules made under this Act to manage the assets of the troubled organization or association and to pay the liabilities,
(l) Directors, employees or members of the troubled organization or associationIf a family member is found to have used the savings of the saver in whole or in part in any company, organization or economic transaction or business, he shall take possession of the amount used in that way or the property increased from it and take necessary actions related to auction sale or collection to fully cover the savings of the saver from the said property,
(d) To undertake legal defense on behalf of the troubled organization or association,
(d) Taking possession of movable and immovable property of the organization or association held in the name of directors and employees of the troubled organization or association or their family members or other persons or immovable property purchased from the property of the organization or association and returning such property to the saver by auctioning it.