xli 



their subscriptions, and to receive all subscriptions and other payments 

 due to the Academy. 



[This is the existing Section 8 of Chapter VI. of By-laws of Academy, 

 page 26.] 



II. The Treasurer shall, on his election, give security in form of 

 bond for £1000, or such other amount as the Academy may deem fit. 



III. The Treasurer shall keep a set of account books, exhibiting 

 the receipts and expenditure of the Academy in such form as may from 

 time to time be approved of by the Council. 



IV. The Treasurer shall prepare a statement of receipts and expen- 

 diture, to be presented annually, in such form, and at such time, as the 

 Council shall direct. 



V. Immediately after the close of each financial year, the Council 

 shall appoint a Committee to audit the Treasurer's accounts. 



[This is Section 10 of Chapter VI. of existing By-laivs, page 26.] 



VI. Payments shall be made by the Treasurer's draft on the Bank, 

 countersigned by one of the following Officers of the Academy, viz. : — 

 The Secretary of the Academy, the Secretary of Council, or the Libra- 

 rian. 



[This would supersede Section 9 of Chapter VI. of existing By-laws, 

 page 26.] 



VII. In the absence or illness of the Treasurer, such other Member 

 of Council as the Treasurer may propose, and the Council approve, shall 

 be authorized to act for him, and sign drafts on the Bank. 



Of Receipts of Payments. 



I. An estimate shall be annually prepared, and submitted to Council 

 by the Treasurer, exhibiting the probable income and expenditure of 

 the Academy for the ensuing financial year, under the different heads 

 of account. 



II. Amounts derived from Life Compositions, Interest of Life Com- 

 position Stock, and of the Cunningham .Fund Stock, shall be invested 

 from time to time in such Public Securities as Council may direct. 



III. The Council may delegate to its Committees the expenditure 

 of the sums allocated by Parliament to special departments. 



IV. No sum of, or exceeding, £10 shall be granted by any Com- 

 mittee, except that of publication, without previous notice having been 

 given* at a meeting, and inserted on the summonses sent to each member 

 of that Committee for the meeting at which the money is proposed to 

 be voted. 



V. Amounts voted in due form by Committees to whom the expen- 

 diture of allocated sums has been delegated, may be paid by the Trea- 

 surer without being brought before Council. 



