MONEY AND OTHER ASSETS OF THE SOCIETY

15.0 Use of Money and Other Assets

15.1 The Society may only Use Money and Other Assets if:

(a)     It is for a purpose of the Society;

(b)     It is not for the sole personal or individual benefit of any Member; and

(c)     That Use has been approved by either the Committee or by majority vote of the Society.

15.2 Only Committee Members may hold Society documents and property

16.0 Joining Fees, Subscriptions and Levies

16.1 The Society shall decide by majority vote at a Society Meeting:

(a)   What a Member must pay to join the Society (“Joining Fee”); and

(b)   What a Member must pay in order to stay a Member (“Subscription”) and how often this must be paid.

16.2 The Committee may by majority vote impose a levy or levies on Members up to a maximum total of $20.00 in any one financial year.

16.3 If any Member does not pay a Subscription or levy by the date set by the Committee or the Society, that Member shall have a further period of seven days to pay the Subscription or levy. After the seven day period, the Member shall (without being released from the obligation of payment) have no Membership rights and shall not be entitled to participate in any Society activity until all the arrears are paid, and the Member’s Membership shall be suspended until all arrears are paid in full.

16.4 For the purposes of establishing the Society from its date of constitution, the fees and schedules are:

(a)     Joining Fee:                   $Nil

(b)     Subscription:                  $10.00 (Individual Member)

                                              $15.00 (Family Memberships)

(c)     Membership Period:        Annual, from date of acceptance.

17.0 Additional Powers

17.1 The Society may:

(a)   Employ people for the purposes of the Society;

(b)   Exercise any power a trustee might exercise;

(c)    Invest in any investment that a trustee might invest in;

(d)   Borrow money and provide security for that if authorised by Majority vote at any Society Meeting.

18.0 Financial Year

18.1 The financial year of the Society begins on 01 April of every year and ends on 31 March of the next year.

19.0 Cheques

19.1 Any Payment made by the Society above a value of Twenty Dollars (NZ $20.00) must be by Cheque or Electronic Deposit.

19.2 All Cheques or Electronic Deposits must be signed by the Chairperson, and countersigned by one other Committee Member.

20.0 Appointing an Auditor

20.1 At an Annual General Meeting, the Society may by majority vote appoint someone to audit the Society (“the Auditor”). The Auditor shall audit the Society’s accounts, and shall certify that they are correct. The Auditor must be a member of the New Zealand Society of Accountants, and must not be a Member of the Society. If the Society appoints an Auditor who is unable to act for some reason, the Committee shall appoint another Auditor as a replacement.