XLIV 



Money Affairs of the Association. 



12. The financial year shall end on the 30th June. 



13. All sums received for life subscriptions and from the sales of 

 back numbers of Reports shall be invested in the names of three 

 Trustees appointed by the Council, and the interest arising from such 

 investment shall be reserved for grants in aid of scientific research. 



14. The subscriptions shall be collected by the Local Secretary in 

 each State, and forwarded by him to the General Treasurer. 



15. The Local Committees shall not have power to expend money 

 without the authority of the Council, with the exception of the Local 

 Committee of the State in which the next ensuing Session is to be held, 

 which shall have power to expend money collected, or otherwise ob- 

 tained in that State. Such disbursements shall be audited, and the 

 Balance-sheet and the surplus funds forwarded to the General Treasurer. 



16. All cheques shall be signed either by the General Treasurer 

 and the General Secretary or by the Local Treasurer and the Secretary 

 of the State in which the ensuing Session is to be held. 



17. Whenever the balance in the hands of the Banker shall exceed 

 the sum requisite for the probable or current expenses of the Associa- 

 tion, the Council shall invest the excess in the names of the Trustees. 



18. The whole of the accounts of the Association — i.e., the local 

 as well as the general accounts — shall be audited before each meeting 

 of the Association by two Auditors appointed by the Council, and 

 the Balance-sheet shall be submitted to the Council at its first meeting 

 thereafter. 



Money Grants. 



19. Grants of money for the furtherance of specific objects of scientific 

 research may be made by the General Council on the recommendation 

 of the Recommendation Committee. 



Committees and individuals to whom grants of money have been 

 intrusted are required to present to the following meeting a report 

 of the progress which has been made, together with a statement of the 

 sums which have been expended. Any balance shall be returned to 

 the General Treasurer. 



20. In each Committee the Secretary is the only person entitled 

 to call on the Treasurer for such jDortions of the sums granted as may 

 from time to time be required. 



21. In grants of moneys to Committees, or to individuals, the 

 Association does not contemplate the payment of personal expenses 

 to the members or to the individual. 



