24. FUNDS
24.1 The funds of the Association shall be derived from annual subscriptions, donations and such other sources as the Council determines.
24.2 The Council shall open bank accounts in the name of the Association into which all monies shall be paid as soon as possible after they are received.
24.3 The Treasurer of the Association or his duly authorised delegate shall:
(a) Collect and receive all moneys due to the Association and make all payments authorised by the Association; and
(b) Keep correct accounts and books showing the financial affairs of the Association with full details of all receipts and expenditure connected with the activities of the Association.
24.4 No payment shall be made from Association funds otherwise than by cheque drawn on the Association's bank accounts, except with the authority of the Executive.
24.5 All expenditures shall be approved or ratified by the Executive.
24.6 All cheques, drafts, bills of exchange, promissory notes and other negotiable instruments must be signed by the Treasurer and one other member of the Executive, or in the Treasurer's absence, by such other members of the Executive as Council may nominate for that purpose.
24.7 All income and property of the Association shall be applied solely towards the promotion of the objects of the Association. No portion of the income or property shall be paid or transferred in any way to persons who are or have been members of the Association.
24.8 This rule does not preclude payment in good faith of reasonable and proper remuneration to any person or body for services rendered or goods supplied to the Association.
