All
cheques
drawn
or
withdrawal
notices
on
the
Club's
account
shall
be
signed
by
either
the
President,
Deputy
President,
Vice
President
or
Secretary
in
addition
to
the
Treasurer.
The
Treasurer
shall
at
no
time
hold
more
than
one
thousand
ringgit
(RM1,000)
as
cash
in
hand
at
any
one
time.
All
monies
in
excess
of
this
sum
shall
be
deposited
in
a
bank
approved
by
the
Committee.
Any
expenditure
below
five
thousand
ringgit
(RM5,000)
at
any
one
time
may
be
authorized
by
the
Treasurer
jointly
with
either
the
Deputy
President
or
the
Secretary.
Any
expenditure
exceeding
five
thousand
ringgit
(RM5,000)
at
any
one
time
shall
be
approved
by
the
Committee
and
any
expenditure
exceeding
fifty
thousand
ringgit
(RM50,000)
at
any
one
time
shall
not
be
incurred
without
the
prior
sanction
of
the
President.
The
income
and
profit
derived
from
the
investment
or
business
of
the
Club
shall
be
applied
solely
towards
the
promotion
of
the
objects
of
the
Club
and
no
portion
thereof
shall
be
paid
or
transferred
directly
or
indirectly
by
way
of
dividend
or
bonus
or
otherwise
to
the
person
or
persons
who
at
any
time
are
or
have
been
members
of
the
Club
or
to
any
person
claiming
through
them.
But
nothing
herein
contained
shall
prevent
the
payment
in
good
faith
or
remuneration
to
any
office-bearers
or
servants
of
the
Club
for
any
service
actually
rendered
to
the
Club.
As
soon
as
possible
after
the
end
of
each
financial
year,
a
statement
of
income
and
expenditure
and
a
balance
sheet
for
the
year
shall
be
prepared
and
audited
by
the
Auditor/Auditors
appointed
under
Rule
26.
the
audited
accounts
shall
be
submitted
for
the
approval
of
the
next
Annual
General
Meeting,
and
copies
shall
be
made
available
at
the
registered
office/address
of
the
Club
for
the
perusal
of
members.
The
financial
year
of
the
Club
shall
commence
on
1st
July
annually.
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