(A) The Management Committee shall determine with which Bank or other financial institution the funds of the Competition will be lodged.
(B) All expenditure in excess of £500 shall be approved by the Management Committee. Cheques up to a value of £500 shall be signed by one Officer nominated by the Management Committee. Cheques over the value of £500 shall be signed by two Officers nominated by the Management Committee.
(C) The financial year of the Competition will end on the 30th of April.
(D) 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 AGM.