Page:Royal Society of New Zealand Act 1965.pdf/9

362 by it, and the accounts shall be audited by the Audit Office which for that purpose shall have all the powers that it has under the Public Revenues Act 1953 in respect of public money and the audit of the accounts of local authorities.

(2) The financial year of the Society shall begin on the first day of April and end with the thirty-first day of March.

(3) The Council shall, as soon as practicable after the end of each financial year, cause full and true statements and accounts of all its income and expenditure in that year and of its assets and liabilities at the end of that year to be prepared and submitted to the Audit Office.

21. Money to be paid into bank—(1) All money received by the Society amounting to ten pounds and upwards shall, as soon as practicable after it has come into the hands of the proper officer or employee of the Society, be paid into such bank account or accounts of the Society as the Council from time to time determines.

(2) No such money shall be withdrawn from the bank except by authority of the Council and by cheque signed by an officer or employee of the Society approved by the Council, and counter-signed by a member of the Council, or by another officer or employee of the Society, approved by the Council.

22. Investment of money—Subject to the terms of any trust or endowment, any money belonging to or vested in the Society and available for investment may be invested in any such manner as may from time to time be prescribed by the rules of the Society.

23. Application of income and capital of the Society—Subject to the provisions of this Act and to the terms of any trust or endowment, the income and capital of the Society shall be applied in doing whatever the Council thinks expedient in order that the Society may accomplish the purposes for which it is established.

24. Travelling allowances and expenses of members of Council and committees—(1) The Council may pay travelling allowances and expenses to each of its members and to each member of any committee appointed by it and to each member of the Member Bodies Committee; and, in respect of travel in New Zealand, those allowances and expenses shall not exceed those payable in accordance with the Fees and Travelling Allowances Act 1951, and the provisions of that