Accounts.
(b) he is absent without permission of the President from three consecutive meetings of the Council of which he has had notice to attend, and the Council resolves that his office shall be vacant:
(c) he becomes bankrupt or makes an arrangement or com-
position with his creditors;
(d) he ceases to be ordinarily resident in Hong Kong: (e) his name is removed from the register under section
27(1)(c) or (d) or section 35(1)(a); or
(f) he ceases to belong to the class of which he was a mem- ber under sub-paragraph (1) or (ii) of section 10(2)(c):
Provided that this paragraph shall not apply if the remaining number of elected members of that class is not less than four.
16. (1) The Council shall maintain proper accounts of all transactions of the Society and shall prepare for every financial year a statement of the accounts of the Society, containing an income and expenditure account and a balance sheet, both of which shall be signed by the President.
(2) The Society in general meeting shall appoint an auditor who shall be entitled at any time to have access to all books of account, vouchers and other financial records of the Society and to require such information and explanations thereon as he thinks fit.
(3) The auditor shall audit the statements drawn up under subsection (1) as soon as possible and shall make a report thereon to the Council.
(4) A copy of the signed and audited statement of accounts, together with the auditor's report made under subsection (3), sball be-
(a) sent to each professional accountant with the notice of
the annual general meeting and
(b) submitted for approval to the annual general meeting of the Society next following the end of the financial year to which they relate.
(5) The auditor shall be entitled to attend the annual general meeting of the Society at which the statement of accounts which have been reported on by him are to be submitted for approval and to make any statement or explanation he desires with respect to the accounts.
9
(6) The Council shall determine the period, which may be more or less than twelve months, in respect of which the accounts of the Society shall be made up.
(7) In this section "financial year" means the period deter- mined by the Council under subsection (6) as the period in respect of which the accounts of the Society shall be made up.
17. (1) The management and control of the Society and of its property shall be vested in the Council and all such powers. acts or things as may be exercised or done by the Society which are not required by this Ordinance, or by a resolution passed by the Society in general meeting. to be exercised or done by the Society may be exercised or done by the Council.
(2) No such resolution of the Society shall invalidate the cxercise of any power or the doing of any act or thing by the Council before the date of the resolution.
(3) Subject to this Ordinance, the Council may regulate its own procedure and that of any committee appointed under sec- tion 18(1)(m) relating to-
(a) the holding of meetings;
(b) the notice to be given of such meetings;
(c) the proceedings at such meetings;
(d) the keeping of minutes at such meetings; and
(e) the custody, production and inspection of such minutes.
18. (1) Without derogating from the generality of the powers conferred by section 17(1), the Council may-
(a) do anything necessary for the better carrying out of the
objects of the Society:
(b) appoint such employees and agents as it deems neces-
sary:
(c) appoint the bankers of the Society;
(d) purchase, take on lease or in exchange, hire or other- wise acquire any movable or immovable property, and erect any buildings;
(e) sell, lease, mortgage, dispose of or otherwise deal with any movable or immovable property of the Society:
(f) invest moneys of the Society;
(g) borrow moneys upon security or otherwise;
General
powers ot Council.
Particular powers of Council.