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(f) At the end of each financial year the Secretary General
shall prepare a balanced statement of the Publications Account under Financial Rule 11 (a) and (c) and submit it to the Auditors under Rule 11 (d) for examination and certification.
Rule 9
Custody of funds
(a) The Secretary General shall designate the bank or banks in
which the funds of the Council shall be kept.
(b) There shall be a main account into which shall be paid 'all
monies received under Rules 2 and 5. All movements of funds out of that account shall be on the joint signatures of the Secretary General and an officer of the Secretariat
nominated by him for that purpose. The Secretary General
·
as require authorize other officers to sign in his stead for this purpose without derogation of his own responsibility.
(c) There shall be a subsidiary account, replenished as
necessary by transfer from the main account. All Payments and withdrawals from this subsidiary account shall be made on the joint signatures of two officers from a panel of signatories established by the Secretary General.
(d) Movement of funds from the main account shall be limited to
the purposes provided for in Rule 10 and to transfers to the subsidiary account.
Rule 10 Investment of funds
(a) Subject to such conditions as may be prescribed by the Council, the Secretary General may make short-term
investments of monies not needed for immediate requirements; he shall report to the Finance Committee on such investments which he has made.
(b) The Secretary General may make such long-term investments of monies standing to the credit of trust funds, reserve and special accounts as may be prescribed by the Finance Committee.
(c) Income derived from investments shall be treated in the manner prescribed in the Rules relating to each fund or account. Income derived from the monies referred to in paragraph (a) shall be credited to a special account called the "Investment Income Account". The balance of this account shall be apportioned at the end of each financial year between Members who have paid a contribution during that financial year, account being taken of the amounts paid and the dates of payment.
(d) If exceptional circumstances jeopardize the various funds of the Council and call for urgent action to safeguard them, the Secretary General is authorized to take such action. Insofar as possible he should, however, consult the Chairman of the Finance Committee before making any change in the Council's investments.
June 1985.