22. Finance

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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 Ł1000 shall be approved by the Management Committee. Cheques shall be signed by at least two Officers nominated by the Management Committee.

C. The financial year of the Competition will end on 31st May.

D. The books, or a certified balance sheet, of a League shall be prepared and shall be audited annually by some suitable person(s) who shall be appointed at the Annual General Meeting.

E. The control and safe keeping of the League's finances shall be vested in the trustees of the League who shall be the serving Chairman, General Secretary and the Treasurer.

F. All monies due to the League for any purpose shall be paid to the Treasurer or Assistant Treasurer, either of whom shall have the power to issue a receipt, duly signed.

G. At each General Meeting a Statement of Account for monies due to the League will be issued to every Club. These accounts must be paid in full at or before the following General Meeting. Thereafter, any outstanding account will incur a fine of Ł5.00 for late payment and, if not cleared within a further 14 days, will result in the immediate suspension of all fixtures for the Club.

H. Any Club which, due to exceptional circumstances, experiences temporary difficulty in complying with Rule 22 (G) must forward an explanatory letter to the Treasurer before elapse of the 14 days grace.