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[接上页] Cap 1049A reg 14 A current account of the moneys of the corporation shall be kept in the name of the treasurer on behalf of the corporation at such bank as the council shall from time to time approve. Cap 1049A reg 15 All receipts on behalf of the corporation from whatever source shall be paid in to the credit of such account as soon as conveniently may be, and all drafts on the account shall be signed by the treasurer. Cap 1049A reg 16 In every year in which there shall be an available surplus of the income over the expenditure, the council shall set aside and invest on a reserve or sinking fund at least $1200.00 as provision for extension, for replacing buildings on expiration of leases and for unforeseen contingencies. Cap 1049A reg 17 Future investments may be of such a nature as the council shall from time to time by resolution approve of, and shall not be limited to strict trustee investments, and all investments may be from time to time varied under the authority of a resolution of the council. Cap 1049A reg 18 CITATION These regulations may be cited as the St. Stephen's College Regulations. |