Penguin
Note: You are viewing an old revision of this page. View the current version.

It is proposed to alter the first paragraph of rule 9 from:

The funds of the society shall be held under the control of the officers of the committee. The treasurer and secretary shall have joint required signing rights, and operate the bank accounts, handle investments, and make payments as needed.

to:

The funds of the society shall be held under the control of the officers of the committee. The officers shall have joint signing rights with a minimum of two signatories required, and operate the bank accounts, handle investments, and make payments as needed.

The purpose of this change is so that the president or vice president can also sign cheques (which they cannot do at present). As a safeguard there must be a minimum of two signatories.

Check the charter history minutes of past AGMs if you want to see which changes have been made in the past.