11. CLUB FINANCES
(a) A bank account shall be opened and maintained in the name of the Club (the Club Account). Designated account signatories shall be two of the Club Chairperson, the Club Secretary and the Treasurer. No sum shall be drawn from the Club Account except by cheque signed by two of the three designated signatories. All monies payable to the Club shall be received by the Treasurer and deposited in the Club Account.
(b) The income and assets of the Club (the Club Property) shall be applied only in furtherance of the objects of the Club.
(c) The Club Committee shall have power to authorise the payment of remuneration and expenses to any member of the Club and to any other person or persons for services rendered to the Club.
(d) The Club shall prepare an annual Financial Statement in such form as shall be published by The Football Association from time to time.
(e) The Club Property, other than the Club Account, shall be vested in not less than two and no more than four custodians, one of whom shall be the Treasurer (the Custodians), who shall deal with the Club Property as directed by decisions of the Club Committee and entry in the Minute Book shall be conclusive evidence of such a decision.
(f) The Custodians shall be appointed by the Club in a General Meeting and shall hold office until death or resignation unless removed by a resolution passed at a General Meeting.
(g) On their removal or resignation a Custodian shall execute a Conveyance in such form as is published by The Football Association from time to time to a newly-elected Custodian or the existing Custodians as directed by the Club Committee. On the death of a Custodian, any Club Property vested in them shall vest automatically in the surviving Custodians. If there is only one surviving Custodian, a Special General Meeting shall be convened as soon as possible to appoint another Custodian.
(h) The Custodians shall be entitled to an indemnity out of the Club Property for all expenses and other liabilities reasonably incurred by them in carrying out their duties.
(a) A resolution to dissolve the Club shall only be proposed at a General Meeting and shall be carried by a majority of at least three-quarters of the members present.
(b) The dissolution shall take effect from the date of the resolution and the members of the Club Committee shall be responsible for the winding up of the assets and liabilities of the Club.
(c) Any surplus assets remaining after the discharge of the debts and liabilities of the Club shall be transferred to the parent Association who shall determine how the assets shall be utilised for the benefit of the game. Alternatively, such assets may be disposed of in such other manner as the members of the Club with the consent of the parent Association shall determine.
This Constitution was adopted at a meeting of the Club’s Management Committee.