22. Finance

  1. The Management Committee shall determine with which bank or other financial institution the funds of the Competition will be lodged.
  2. All expenditure in excess of £500.00 shall be approved by the Management Committee. Cheques shall be signed by at least two Officers nominated by the Management Committee.
  3. The financial year of the Competition will end on 31st December.
  4. The books, or a certified balance sheet, of a Competition shall be prepared and shall be audited annually by some suitable person(s) who shall be appointed at the Annual General Meeting.
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