An annual audited Statement of Accounts shall be presented to the Annual General Meeting.
Subscriptions are annual and are due on 1st September each year. Subscriptions shall be at a rate agreed at the Annual General Meeting, or at an Extraordinary General Meeting called for that purpose.
Any surplus income shall be re-invested in the Club: under no circumstances shall it be distributed amongst Members or to third parties.
In the event of it being necessary to wind up the Club, the disposal of its funds and property shall be decided at a General Meeting called for that purpose. After discharging all debts and liabilities of the Club, the remaining assets shall not be paid or distributed to any Member, but shall be given to some other voluntary organisation having objects similar to those of the Club.
Equipment purchased wholly or in part with funds provided by bodies other than the Club shall not be disposed of wholly or in part without reasonable notice of the Club’s intention being given to those bodies, and disposal shall be subject to agreement determined, if necessary, by arbitration mutually acceptable to the Club and other interested parties.