|
ITTF
Handbook 2012 / 2013 |
| Index |
Description |
| 1.16 |
FINANCE |
| 1.16.01 |
Accounts |
| 1.16.01 |
Eligibility |
| 1.16.01.01 |
The financial year of the ITTF shall end on 31st December. |
| 1.16.01.02 |
The Executive Vice-President responsible for finance shall ensure that an annual statement of accounts be prepared, which shall be audited by professional auditors, and that a yearly and quadrennial estimate of income and expenditure be presented |
| 1.16.01.03 |
The bank accounts of the ITTF shall be held at banks appointed by resolution of the Board on recommendation by the Executive Committee. |
| 1.16.02 |
Trustees |
| 1.16.02.01 |
The President, Deputy President and Executive Vice-Presidents shall be Trustees for the purpose of purchasing, selling, leasing or otherwise dealing with any freehold or leasehold property or other assets required by the AGM or Board of Directors for the purposes of the ITTF. |
| 1.16.02.02 |
The Trustees shall be authorised to use the funds of the ITTF in the purchase of such property and assets and shall stand possessed thereof and of the proceeds of sale thereof upon trust for the ITTF in such manner as the Board may from time to time direct. |
| 1.16.02.03 |
The Trustees shall comply with any laws, statutes and requirements of the countries in which such trust property may be situated which relate to the purchase, sale and management of such property and the duties of Trustees in connection therewith. |
| 1.16.02.04 |
The Trustees and their estates and effects shall be fully indemnified by the ITTF against all personal risk and expense arising as a result of their appointment as Trustees. |
| 1.16.02.05 |
The Trustees shall cease to act in such capacity upon ceasing to hold office as President, Deputy President or Executive Vice-Presidents. |
| 1.16.02.06 |
A Minute signed by the President and a member of the Management Staff shall be conclusive evidence of a decision of the Board. |
| 1.16.03 |
Subscriptions |
| 1.16.03.01 |
Each Association shall pay an annual subscription of US$ 150 or the equivalent in Swiss Francs. |
| 1.16.03.02 |
The first subscription shall be paid with the application for membership and subsequent subscriptions shall be due on 1st January of each year. |
| 1.16.03.03 |
An Association shall be in arrears if its subscription has not been paid by 31st December of the year in which it is due. |