QETA Constitution
QUEENSLAND ECONOMICS TEACHERS’ ASSOCIATION INC.
CONSTITUTION
1. NAME:
The name of the incorporated association shall be “Queensland Economics Teachers’ Association Inc. (in these rules called “the Association”)
2. OBJECTS:
The objects for which the Associationis established are:
[a] to further the study and teaching of Economics and the dissemination of Economic ideas.
[b] to improve the communication among teachers and the general community by meetings, conferences and the establishment of regional branches and any other appropriate means.
[c] to share its knowledge of economics with students and members of the public indiscriminately.
POWERS
Solely for the purpose of carrying out the aforesaid objects and not otherwise, the powers of the Association are:-
[1] To subscribe to, become a member of and co-operate with any other associations, club or organisation, whether incorporated or not, whose objects are altogether or in part similar to those of the Association provided that the Association shall not subscribe to or support with its funds any association, club, or organisation which does not prohibit the distribution of its income and property among its members to an extent at least as great as that imposed on the Association under or by virtue of Rule 27.10;
[2] In furtherance of the objects of the Association, to buy, sell, and deal in all kinds of articles, commodities and provisions, both liquid and solid, for the members of the Association or persons frequenting the Association’s premises;
[3] To purchase, take on lease, or in exchange, hire, and otherwise acquire any lands, buildings or property, real and personal, and any rights or privileges which may be requisite for the purposes of, or capable of being conveniently used in connection with any of the objects of the Association : Provided that in case the Association shall take or hold any property which may be subject to any Trusts, the Association shall only deal with the same in such manner as is allowed by law having regard to such trusts;
[4] To enter into any arrangements with any Government or Authority that are incidental or conducive to the attainment of the objects and the exercise of the powers of the Association; to obtain from any such Government or Authority any rights, privileges, and concessions which the Association may think it desirable to attain; and to carry out, exercise and comply with any such arrangements, rights, privileges and concessions;
[5] To appoint, employ, remove, or suspend such managers, clerks, secretaries, servants, workmen, or other persons as may be necessary or convenient for the purposes of the Association;
[6] To remunerate any person or body corporate for services rendered, or to be rendered, and whether by way of brokerage or otherwise in placing or assisting to place or guaranteeing the placing of any unsecured notes, debentures, or other securities of the incorporated Association, or in or about the incorporated Association or promotion of the incorporated Association or in the furtherance of its objects;
[7] To construct, improve, maintain, develop, work, manage, carry out, alter, or control any buildings, grounds, works or conveniences which may seem calculated directly or indirectly to advance the Association’s interests, and to contribute to, subsidise or otherwise assist and take part in the construction, improvement, maintenance, development, working, management, carrying out, alteration or control thereof;
[8] to invest and deal with the money of the Association not immediately required in such manner as may from time to time be thought fit;
[9] To take, or otherwise acquire, and hold shares, debentures or other securities of any company or body corporate;
[10] In furtherance of the objects of the Association, to eland and advance money or give credit to any person or body corporate; to guarantee and give guarantees or indemnities for the payment of money or the performance of contracts or obligations by any person or body corporate, and otherwise to assist any person or body corporate;
[11] To borrow or raise money either alone or jointly with any other person or legal entity in such manner as may be thought proper and whether upon fluctuating advance account or overdraft or otherwise to represent or secure any moneys and further advances borrowed or to be borrowed alone or with others as aforesaid by notes secured or unsecured, debentures or debenture stock perpetual or otherwise, or by mortgage, charge, lien, or other security upon the whole or any part of the incorporated Association’s property or assets presently or future and to purchase, redeem or pay-off any such securities;
[12] To draw, make, accept, endorse, discount, execute and issue promissory notes, bills of exchange, bills of lading, and other negotiable or transferable instruments;
[13] In furtherance of the objects of the Association to sell, improve, manage, develop, exchange, lease, dispose of, turn to account, or otherwise deal with all or any part of the property and rights of the Association;
[14] To take or hold mortgage, lens, or charges, to secure payments of the purchase price, or any unpaid balance of the purchase price, of any part of the Association’s property of whatever kind sold by the Association, or any money due to the Association from purchasers and others;
[15] To take any gift of property whether subject to any special trust or not, for any one or more of the objects of the Association, but subject always to the proviso in sub-rule [4].
[16] To make such steps by personal or written appeals, public meetings or otherwise, as may from time to time be deemed expedient for the purpose of procuring contributions to the funds of the Association, in the shape of donations, annual subscriptions or otherwise;
[17] To print and publish any newspapers, periodicals, books, or leaflets that the Association may think desirable for the promotion of its objects;
[18] To amalgamate with any one or more incorporated associations having objects altogether or in part similar to those from the Association and which shall prohibit the distribution of its or their income and property among its or their members to an extent at least as great as that imposed upon the Association under or by virtue of Rule 27 [10];
[19] To purchase or otherwise acquire and undertake all or any part of the property, assets, liabilities, and engagements of any one or more of the incorporated associations with which the Association is authorised to amalgamate;
[20] In furtherance of the objects of the Association to transfer all or any part of the property, assets, liabilities and engagements of the Association to any one or more of the incorporated associations with which the Association is authorised to amalgamate;
[21] To make donations for patriotic, charitable or community purposes;
[22] To transact any lawful business in aid of the Commonwealth of Australia in the prosecution of any war in which the Commonwealth of Australia is engaged;
[23] To make such rules as are necessary for the proper conduct of the Association;
[24] To do all other such things as are incidental or conducive to the attainment of the objects and the exercise of the powers of the Association.
4. CLASSES OF MEMBERS
4.1 The membership of the Association shall consist of:
(a) Ordinary members
(b) Trainee teachers
(c) Institutional member
(d) Corporate member
(e) Life member
4.1[a] Ordinary Members will be financial members of the Association, and will be 18 years or older. All ordinary members shall be entitled to voting rights at Association General, Special General and Annual General Meetings.
4.1[b] Trainee Teacher Members will be financial members of the Association, and will be 18 years or older. All trainee teacher members shall be entitled to voting rights at Association General, Special general and Annual General Meetings.
4.1[c] Institutional Members will be schools or other bodies directly related to education. They shall be entitled to voting rights at Association general, Special General and Annual General Meetings. An institutional member shall be entitled to one vote only.
4.1[d] Corporate Members will be commercial or other bodies and will be entitled to voting rights at Association General, Special General and Annual General Meetings.
4.1[e] Life Membership shall be awarded to a member who has rendered outstanding and exceptional service to the Association for at least 8 years. The management Committee shall make recommendations to the Annual General Meeting on such membership, and a three-fourths majority shall be required for such membership to be awarded. Life members shall not be required to pay any subscriptions or levies that may be imposed by the Association. Life members shall be entitled to attend general, Special General and Annual General Meetings of the Association and to vote at such meetings.
4.2 The number of members in each class shall be unlimited.
5. MEMBERSHIP
5.1 Every application for all classes of membership of the Association other than Life membership shall be in such form as the Management Committee from time to time prescribes.
6.MEMBERSHIP FEES
6.1 The membership fee for each class of membership other than Life Membership shall be such sum as the Management Committee shall from time to time determine.
6.2 The membership fees for each class of membership shall be payable at such time and in such manner as the management Committee shall from time to time determine.
7. ADMISSION AND REJECTION OF MEMBERS
7.1 At the next meeting of the Management Committee after the receipt of any applications and the fee payable for any class of membership, such application shall be considered by the Management Committee who shall thereupon determine the admission or rejection of the applicant.
7.2 Any applicant who receives a majority of votes of the members of the Management Committee present at the meeting at which such application is considered shall be accepted as a member to the class of membership applied for.
7.3 Upon rejection of an application for any class of membership, the Secretary shall forthwith give the applicant notice in writing of such rejection.
8. TERMINATION AND TRANSFER OF MEMBERSHIP
8.1 A member may resign from the Association at any time by giving notice in writing to the Secretary. Such resignation shall take effect at the time such notice is received by the Secretary unless a later date is specified in the notice when it shall take effect on that later date. All outstanding fees and charges shall be settled by such member at the date of notice.
8.2 If a member –
(i) is convicted of an indictable offence; or
(ii) fails to comply with any of the provisions of these rules; or
(iii) conducts himself in a manner considered to be injurious or prejudicial to the character or
interests of the Association,
the Management Committee shall consider whether the membership shall be terminated or suspended for a specified period. Any member dealt with under this rule shall receive seven (7) days notice to attend a specified meeting of the Management Committee, such notice clearly stating the purpose for which the member has been requested to attend.
8.3 The member concerned shall be given a full and fair opportunity of presenting his/her case and if the Management Committee resolves to terminate his/her membership, it shall instruct the Secretary to call a Special General Meeting to consider its recommendation and to advise the member in writing accordingly. At such Special General Meeting the member shall be given a fair and full opportunity of presenting his/her case and if the Special General Meeting endorses the Management Committee’s decision, the Secretary shall confirm the decision in writing to the member.
9. APPEAL AGAINST REJECTION OF MEMBERSHIP
9.1 A person whose application for membership has been rejected may within one month of receiving written notification thereof, lodge with the secretary written notice of his intention to appeal against the decision of the Management Committee.
9.2 Upon receipt of a notification of intention to appeal against rejection of membership, the Secretary shall convene, within three months of the date of receipt by him/her of the notice, a General Meeting to determine the appeal. At any such meeting, the applicant shall be given the opportunity to fully present his/her case and the Management Committee or those members thereof who rejected the application for membership subsequently shall likewise have the opportunity of presenting its or their case. The appeal shall be determined by the vote of members present at such meeting.
9.3 Where a person whose application is rejected does not appeal against the decision of the management Committee within the time prescribed by these rules or so appeals but the appeal is unsuccessful, the Secretary shall forthwith refund the amount of any fee paid.
10. REGISTER OF MEMBERS
10.1 The Management Committee shall cause a register to be kept in which shall be entered the names and professional addresses of all persons admitted to membership of the Association and the dates of their admission.
Particulars shall also be entered into the Register of deaths, resignations, terminations and
reinstatements of membership and any further particulars as the management Committee or the members at any General Meeting may require from time to time.
10.3 The register shall be open for inspection at all reasonable times by any member who previously applies to the Secretary for such inspection.
11. MEMBERSHIP OF MANAGEMENT COMMITTEE
11.1 The Management Committee of the Association shall consist of the President, the Vice-President, the Secretary, thew Treasurer, all of whom shall be members of the Association, and such number of other members as the members of the Association at any general meeting may from time to time elect or appoint.
11.2 At the Annual General Meeting of the Association, all the members of the Management Committee for the time being shall retire from Office, but shall be eligible upon nomination for re-election.
11.3 The election of officers and other members of the Management Committee shall take place in the following manner:-
11.3[a] Any two ordinary or institutional members shall be at liberty to nominate any other ordinary or associate member to serve as an officer or other member of the Management Committee;
11.3[b] The nomination, which shall be in writing and signed by the member and his/her proposer and seconder shall be lodged with the Secretary at least fourteen (14) days before the Annual General Meeting at which the election is to take place;
11.3[c] Balloting lists shall be prepared (if necessary) containing the names of the candidates in alphabetical order, and each member present at the Annual General Meeting shall be entitled to vote for any number of such candidates not exceeding the number of vacancies.
11.3[d] Should, at the commencement of such meeting, there be an insufficient number of candidates nominated, nominations may be taken from the floor of the meeting.
11.4[e] Voting for positions at the Annual General Meeting shall be by the first past the post method, and shall be conducted by a secret ballot.
12. RESIGNATIONS FROM MANAGEMENT COMMITTEE
12.1 Any member of the Management Committee may resign from membership of the Management Committee at any time by giving notice in writing to the Secretary but such resignation shall take effect at the time such resignation is received by the Secretary unless a later date is specified in the notice when it shall take effect on that later date or such member may be removed from office at a General Meeting of the Association where that member shall be given the opportunity to fully present his/her case. The question of removal shall be determined by the vote of the members present at such general Meeting.
12.2 Any member of the Management Committee who without permission from the Committee is absent from three consecutive meetings of the Management Committee shall be considered to have vacated office. In the event of this occurring, the Management Committee shall have the power to fill any vacancy.
13. VACANCIES ON THE MANAGEMENT COMMITTEE
13.1 The Management Committee shall have the power at any time to appoint any ordinary or associate member of the Association to fill any casual vacancy on the Management Committee until the next Annual General Meeting.
13.2 The continuing members of the Management Committee may act notwithstanding any casual vacancy in the Management Committee, but if and so long as their number is reduced below the number fixed by or pursuant to these rules as the necessary quorum of the Management Committee, the continuing member or members may act for the purpose of increasing the number of members of the Management Committee to that number or of summoning a General Meeting of the Association, but for no other purpose.
14. FUNCTIONS OF THE MANAGEMENT COMMITTEE
14.1 Except as otherwise provided by these Rules and subject to resolutions of the members of the Association carried at any General Meeting, the Management Committee:-
Shall have the general control and management of the administration of the affairs, property and funds of the Association; and
Shall have the authority to interpret the meaning of these rules and any matter relating to the Association on which these rules are silent.
14.2 The Management Committee may exercise all the powers of the Association.
14.2[a] to borrow or raise or secure the payment of money in such manner as the members of the Association may think fit and secure the same or the payment or performance of any debt, liability, contract, guarantee, or other engagement incurred or to be entered into by the Association in any way and in particular by the issue of debentures, perpetual or otherwise, charged upon all or any of the Association’s property, both present and future, and to purchase, redeem or pay off any such securities;
14.2[b] to borrow money from members at a rate of interest not exceeding interest at the rate for the time being charged by bankers in Brisbane for overdrawn accounts on money lent, whether the term of the loan be short or long, and to mortgage or charge its property or part thereof and to issue debentures and other securities, whether outright or as security for any debt, liability or obligation of the Association, and to provide and payoff any such securities;
14.2[c] to invest in such manner as the members of the Association may from time to time determine;
14.3 The Executive of the Association and of the management Committee shall consist of the President, Vice-President, Secretary and Treasurer. The Executive shall have power to make decisions which affect the Association between Management Committee Meetings. Any such decisions made shall be discussed at the next Management Committee. Such decisions may or may not be ratified by such Management Committee Meeting.
14.4 The President shall be the Executive Officer of the Association and shall undertake the duties as allocated by the Management Committee.
15. MEETINGS OF THE MANAGEMENT COMMITTEE
15.1 The management Committee shall meet at least six times per year.
15.2 A Special Meeting of the Management Committee shall be convened by the Secretary on the requisition in writing signed by not less than one-third of the members of the Management Committee. Such requisition shall clearly state the reasons why such Social Meeting is being convened and the nature of the business to be transacted thereat.
15.3 At every meeting of the Management Committee, a simple majority of a number equal the number of members elected and/or appointed to the Management Committee as at the close of the last general meeting of the members shall constitute a quorum. Notwithstanding the above, and in the case of an ordinary meeting of the Management Committee, if a quorum is not present after a period of 30 minutes from the scheduled commencement time of the meeting has elapsed, the meeting shall commence with the lesser number present, provided that at least 5 members, including at least one of the following officers are present: the President, the Vice-President, the Treasurer, and the Secretary.
15.4 Subject as previously provided in this rule, the management Committee may meet together and regulate its proceedings as it thinks fit: Provided that questions arising at any meeting of the Management Committee shall be decided by a majority of votes and, in the case of equality of votes, the question shall be deemed to be decided in the negative.
15.5 A member of the management Committee shall not vote in respect of any contract or proposed contract with the Association in which he or she is interested, or any matter arising thereout, and if he/she does so, his/her vote shall not be counted.
15.6 Not less than fourteen (14) days notice shall be given by the Secretary to members of the Management Committee of any special meeting of the Management Committee. Such notice shall clearly state the nature of the business to be discussed thereat.
15.7 The President shall preside as Chairperson at every meeting of the Management Committee, or if there is no President, or if at any meeting he is not present within ten minutes after the time appointed for holding the meeting, the Vice-President shall be the Chairperson or if the Vice-President is also not present at the meeting, the members may choose one of their number to be Chairperson of the meeting.
15.8 If within half an hour from the time appointed for the commencement of a Management Committee meeting a quorum is not present, the meeting, if convened upon the requisition of members of the Management Committee, shall lapse. In any other case, it shall stand adjourned to the same day in the next week at the same time and place, or to such other day and at such other time and place as the Management Committee may determine, and if at the adjourned meeting a quorum is not present within 30 minutes from the time appointed for the meeting, the meeting shall lapse.
16.1 The Management Committee may delegate any of its powers to a sub-committee consisting of such members of the Association as the management Committee thinks fit. Any sub-committee so formed shall in the exercise of the powers so delegated conform to any regulations that may be imposed on it by the Management Committee. The President, Vice-president, secretary and Treasurer shall be ex-officio members of all sub-committees.
16.2 A sub-committee may elect a Chairperson at its meetings. If no such Chairperson is elected, or if at any meeting the Chairperson is not present within 10 minutes after the time appointed for holding the meeting, the members present may choose one of their number to be Chairperson of the meeting.
16.3 A sub-committee may meet and adjourn as it thinks proper. Questions arising at any meeting shall be determined by a majority of votes of the members present, and, in the case of equality of votes, the question shall be deemed to be decided in the negative.
17. All acts done by any meeting of the Management Committee or of a sub-committee or by any person acting as a member of the Management Committee shall, notwithstanding that it is afterwards discovered that there was some defect in the appointment of any such member of the Management Committee or person acting as aforesaid, or that the members of the management Committee or any of them were disqualified, be as valid as if such person had been duly appointed and was qualified to be a member of the Management Committee.
18. A resolution in writing signed by all the members of the Management Committee for the time being entitled to receive notice of a meeting of the Management Committee shall be as valid as if it had been passed at a meeting of the Management Committee duly convened and held. Any such resolution may consist of several documents in like form, each signed by one or more members of the Management Committee.
19. NAUULA GENERAL MEETING
19.1 The Annual General Meeting shall be held within six months of the close of the financial year.
19.2 The business to be transacted at every Annual General Meeting shall be:-
[a] the receiving of the Management Committee’s Report and the statement of income and expenditure, assets and liabilities and mortgages, charges and securities affecting the property of the Association for the preceding financial year.
[b] the receiving of the auditor’s report upon the books and accounts for the preceding financial year;
[c] the election of officers, other members of the Management Committee;
[d] the appointment of an auditor; and
[e] general business
20. The Secretary shall convene a Special General Meeting:-
[a] when directed to so by the Management Committee; or
[b] on the requisition in writing signed by not less than one-third of the members presently on the Management Committee or not less than the number of ordinary members of the Association which equals double the number of members presently on the Management Committee plus one. Such requisition shall clearly state the reasons why such Special General Meeting is being convened and the nature of the business to be transacted thereat; or
[c] on being given a notice in writing on intention to appeal against the decision of the Management Committee to reject an application for membership or to terminate the membership of any person.
21.1 At any General Meeting, the number of members required to constitute a quorum shall be double the number of members presently on the Management Committee plus one.
21.2 No business shall be transacted at any general meeting unless a quorum of members is present at the time when the meeting proceeds to business. For the purposes of this rule “member” includes a person attending as a proxy or as representing a corporation or institution which is a member.
21.3 Notwithstanding (1) and (2) above, if within half an hour from the time appointed for the commencement of a general meeting a quorum is not present, the meeting, if convened upon the requisition of members of the Management Committee or Association, shall lapse. In any other case, it shall stand adjourned to the same day in the next week at the same time and place, or to such other day and at such other time and place as a quorum of the Management Committee, in attendance for the said general meeting, determines, and if at the adjourned meeting a quorum is not present within half an hour from the time appointed for the meeting, the members present shall be a quorum.
21.4 The Chairperson, may, with the consent of any meeting at which a quorum is present (and shall if so directed by the meeting), adjourn the meeting from time to time and from place to place, but no business shall be transacted at any adjourned meeting other than the business left unfinished at the meeting from which the adjournment took place. When a meeting is adjourned for 30 days or more, notice of the adjourned meeting shall be given as in the case of an original meeting. Save as aforesaid it shall not be necessary to give any notice of an adjournment or of the business to be transacted at an adjourned meeting.
22.1 The Secretary shall convene all General Meetings of the Association by giving not less than 14 days notice of any such meeting to the members of the Association.
22.2 The manner by which such notice shall be given shall be determined by the Management Committee. Provided that notice of any meeting convened for the purpose of hearing and determining the appeal of a member against the rejection or termination of his membership by the Management Committee, shall be given in writing. Notice of a General Meeting shall clearly state the nature of the business to be discussed thereat.
23. Unless otherwise provided by these Rules, at every General Meeting
23.1 the President shall preside as Chairperson, or if there is no President, or if he/she is not present within fifteen minutes after the time appointed for the holding of the meeting or is unwilling to act, the Vice-President shall be the Chairperson or if the Vice-President is not present or is unwilling to act then the members present shall elect one of their number to be Chairperson of the meeting.
23.2 the Chairperson shall maintain order and conduct the meeting in a properly and orderly manner;
23.3 every question, matter or resolution shall be decided by a majority of votes of the members present;
23.4 every member present, entitled to vote, shall be entitled to one vote and in the case of an equality of votes the Chairperson, in addition to having a deliberative vote, shall have a second or casting vote; Provided that no member shall be entitled to vote at any General Meeting if his/her annual subscription is more than one month in arrears at the date of the meeting.
23.5 Voting shall be by a show of hands or a division of members, unless not less than one-fifth of the members present demand a ballot, in which event there shall be a secret ballot. The Chairperson shall appoint two members to conduct the secret ballot in such manner as he/she shall determine and the result of the ballot as determined by the Chairperson shall be deemed to be the resolution of the meeting at which the ballot was demanded.
23.6 A member may vote in person or by proxy or by attorney and on a show of hands every person present who is a member of representative of a member shall have one vote and in a secret ballot every member present or by proxy or by attorney or other duly authorised representative shall have one vote.
23.7 The instrument appointing a proxy shall be in writing, in the common or usual form under the hand of the appointor or of his attorney duly authorised in writing or, if the appointor is a corporation, either under seal or under the hand of an officer or attorney duly authorised. A proxy may but not need be a member of the Association. The instrument appointing a proxy shall be deemed to confer authority to demand or join in demanding a secret ballot;
23.8 Where it is desired to afford members an opportunity of voting for or against a resolution, the instrument appointing a proxy shall be in the following form or a form as near thereto as circumstances permit:-
ASSOCIATION:
I, of being a member of the above mentioned Association, hereby appoint of , or failing him, of
As my proxy to vote for me on my behalf at the (annual) general meeting of the Association, to be held on the day of , 20 , and at any adjournment thereof.
Signed this day of , 20
Signature
This form is to be used * in favour of the resolution
* against the resolution
* Strike out whichever is not desired (unless otherwise instructed, the proxy may vote as he thinks fit)
23.9 The instrument appointing a proxy shall be deposited with the Secretary prior to the commencement of any meeting or adjourned meeting at which the person named in the instrument proposes to vote; and
23.10 The Secretary shall cause full and accurate minutes of all questions, matters, resolutions and other proceedings of every Management Committee and General Meeting to be entered into a book to be open for inspection at all reasonable times by any financial member who previously applies to the Secretary for that inspection. For the purposes of ensuring the accuracy of the recording of such minutes, the minutes of every Management Committee meeting shall be signed by the Chairperson of that meeting or the Chairperson of the next succeeding General Meeting. Provided that the minutes of any General Meeting shall be signed by the Chairperson of that meeting or the Chairperson of the next succeeding General Meeting or Annual General Meeting.
24. BY-LAWS AND REGULATIONS
The Management Committee may from time to time make, amend, or repeal by-laws and regulations, not inconsistent with these rules, for the internal management and proper control of the Association and a by-law may be set aside by a general meeting of members. The Association’s Rules, By-laws and regulations shall be binding on members, who shall not be absolved from their effect by a plea of not having knowledge of them.
25. ALTERATION OF RULES
Subject to the provisions of the ASSOCIATIONS INCORPORATION ACT 1981, these Rules may be amended, rescinded, or added to from time to time by a special resolution carried at any General Meeting. Provided that no such amendment, recision or addition shall be valid unless the same shall have been previously submitted to and approved by the Under Secretary, Department of Justice, Brisbane.
26. COMMON SEAL
The Management Committee shall provide for a Common Seal and for its safe custody. The Common Seal shall only be used by the authority of the Management Committee and every instrument to which the seal is affixed shall be signed by a member of the Management Committee and shall be countersigned by the Secretary or by a second member of the Management Committee or by some other person appointed by the Management Committee for the purpose.
27. FUNDS AND ACCOUNTS
27.1 The funds of the Association shall be banked in the name of the Association in such bank or other financial institution as the Management Committee may from time to time direct.
27.2 Proper books and accounts shall be kept and maintained in written or printed form in the English language showing correctly the financial affairs of the Association and the particulars usually shown in books of a like nature.
27.3 All monies shall be banked as soon as practicable after receipt thereof.
27.4 All amounts of One Hundred Dollars or over shall be paid by Electronic Transfer authorised by, or cheque signed by any two of the President, Secretary, Treasurer or other member authorised from time to time by the Management Committee.
27.5 Cheques shall be crossed “not negotiable” except those in payment of wages, allowances, or petty cash recoupments which may be open.
27.6 The Management Committee shall determine the amount of Petty Cash which shall be kept on the imprest system.
27.7 All expenditure shall be approved or ratified at a Management Committee meeting.
27.8 As soon as practicable after the end of each financial year, the Treasurer shall cause to be prepared a statement containing particulars of:
(a) the income and expenditure for the financial year just ended; and
(b) the assets and liabilities and of all mortgages, charges, and securities affecting the property of the Association at the close of the year.
27.9 All such statements shall be examined by the auditor who shall present his report upon such audit to the Secretary prior to the holding of the Annual General Meeting next following the financial year of which such audit was made.
27.10 The incomer and property of the Association whencesoever derived shall be used and applied solely in promotion of its objects and in the exercise of its powers as set out herein and no portion thereof shall be distributed, paid or transferred directly or indirectly by way of dividend, bonus or otherwise by way of profit to or amongst the members of the Association provided that nothing herein contained shall prevent the payment in good faith of interest to any such member in respect of moneys advanced by him/her to the Association or otherwise owing by the Association to him/her or of remuneration to any Officers or servants of the Association or to any member of the Association pr other person in return for any service actually rendered to the Association provided further that nothing herein contained shall be construed so as to prevent the payment or repayment to any member of out-of-pocket expenses, money lent, reasonable and proper charges for goods hired by the Association or reasonable and proper rent for premises demised or let to the Association.
28. DOCUMENTS
The management Committee shall provide for the safe custody of books, documents, instruments of title and securities of the Association.
29. FINANCIAL YEAR
The financial year of the Association shall close on the 30th September each year.
30. NOTICE
30. Any notice required under the Act or by these rules to be given to any member shall be given by sending it by post to such member at his registered address or if there is no registered address, to the address supplied to the Association for the giving of notices. Where a notice is sent by post, service of the notice shall be deemed to be effected by properly addressing, prepaying and posting a letter containing the notice and to have been effected in the case of a notice of a meeting on the day after the posting and in any other case at the time at which the letter would be delivered in the ordinary course of post. Sending of notices by electronic communication may be used as an alternative.
31.1 Notice of every General Meeting shall be given to members except those members who have not supplied to the Association an address within the district for the giving of notices to them.
31.2 Notice of every General Meeting shall also be given to the Auditor or Auditors for the time being of the Association.
32. DISTRIBUTION OF SURPLUS ASSETS
32. If upon the winding up or dissolution of the Queensland Economics Teachers’ Association Inc. there remains, after satisfaction of all of its debts and liabilities, any property whatsoever, the same shall not be paid to or distributed among the members of the Queensland Economics Teachers’ Association Inc., but shall be given or transferred to some other institution or institutions having objects similar to the objects of the Queensland Economics Teachers’ Association Inc. and which is a fund, authority or institution approved by the Commissioner of Taxation as a fund, authority or institution referred to in paragraph 78(1) of the Income Tax Assessment Act 1936.