CLUB FUND

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.