BAS Rules and Constitution

Rules and Constitution 17 (6) The Management Committee shall determine the amount of petty cash which shall be kept on the imprest system. (7) All expenditure shall be approved or ratified at a Management Com­ mittee meeting. (8) As soon as practicable after the end of each financial year the treasurer shall cause to be prepared a statement containing particulars of— (a) the income and expenditure for the financial year just ended; and (b) the assets and liabilities and of all mortgages, charges and securities affecting the property of the Association at the close of that year. (9) All such statements shall be examined by the auditor who shall present his or her report upon such audit to the Secretary prior to the holding of the annual general meeting next following the financial year in respect of which such audit was made. (10) The income and property of the Association whencesoever derived shall be used and applied solely in promotion of its objects and in the exercise of its powers as set out herein and no portion thereof shall be distributed, paid or transferred directly or indirectly by way of dividend, bonus or otherwise by way of profit to or amongst the members of the Association provided that nothing herein contained shall prevent the payment in good faith of interest to any such member in respect of moneys advanced by him to the Association or otherwise owing by the Association to him or of remuneration to any officers or servants of the Association or to any member of the Association or other person in return for any services actually rendered to the Association provided further that nothing herein contained shall be construed so as to prevent the payment or repayment to any member of out of pocket expenses, money lent, reasonable and proper charges for goods hired by the Association or reasonable and proper rent for premises demised or let to the Association. Documents 28. The Management Committee shall provide for the safe custody of books, documents, instruments of title and securities of the Association. Financial Year 29. The financial year of the Association shall close on the thirtieth day of June in each year.