V: Finance

16 Club Finance

16.1 The Club’s income shall be obtained annually from the subscriptions of Members, from investments and securities, from gate monies and ticket receipts from matches arranged by the Club at the Ground, from the letting of the Ground, from sponsorship and from any other available source.

16.2 The profits of the Club shall be applied only in furthering the objects of the Club.

16.3 The Club shall not have power to receive money on deposit from Members or others.

16.4 A Financial Statement of the Club’s affairs shall be made up to 31 May in each year (or such other date as may be determined from time to time by the Club in General Meeting) and shall be signed by the Treasurer, the Secretary and one Member of the Committee. An audit, where necessary in law or where the membership require, shall be carried out by a qualified auditor or, where the conditions applicable for appointing lay auditors apply, by 2 or more lay auditors, and a copy of the signed Financial Statement, together with the Auditors’ report thereon, shall be sent to each member with the notice calling an Annual General Meeting in accordance with Rule 33.

16.5 The Club may participate in a direct debiting scheme as an originator for the purpose of collecting subscriptions for any category of membership and/or any other amounts due to the Club. In furtherance of such a scheme the Club may enter into an indemnity required by the bank upon whom direct debits are to be originated and such indemnity may be executed on behalf of the Club by the Secretary or as otherwise determined pursuant to these Rules.

17 Subscriptions

Each Member shall, according to membership category, pay to the Club on 1 September (or such other date as may be determined by the Club in General meeting) such annual subscription as the Committee may from time to time determine.

18 Match Tickets

18.1 Tickets to the Ground for matches arranged by the Club shall be under the control of the Committee and shall be sold at prices fixed by the Committee (without any provision for repurchase by the Club) to Members or as the Committee may direct, and the Committee shall allocate such tickets on an equitable basis.

18.2 Tickets to the Ground for representative and other matches for which the Ground is let shall be under the joint control of the Committee and the organisers of the match concerned.

18.3 The Committee shall have power to issue such season and other tickets, on such terms, with such privileges and to such persons as it may from time to time determine.

19 Auditors

19.1 The provisions of the Act relating to the appointment, powers, rights, remuneration, responsibilities and duties of the Auditors shall be complied with unless the Club shall in respect of any accounting period be permitted to dispense with the requirement of an auditor’s report and instead elect for an accountant’s report in accordance, and subject to compliance, with any rules issued by the FSA from time to time in relation thereto.

19.2 The Auditors where appointed shall be entitled to attend any General Meeting and to receive all notices of and other communications relating thereto which any Member is entitled to receive, and to be heard at any General Meeting on any part of the business which concerns them as auditors.