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Seliba Sa Boithuto

Postal Address:

P.O.Box 288

Maseru 100

LESOTHO

Email Address:

mathot@lesoff.co.za

Physical Address:

Ha Tsautse

Main South Road

Maseru

LESOTHO

Banks:

NedBank (Lesotho)

SSB

#:027/06/3925/11

Postbank

Amsterdam

Seliba Sa Boithuto Bouwfonds

  # 684 99 27

Standard Bank (Lesotho)

SSB Trust

# 0140097462501

Article VI.              FINANCES:

1.        The Society shall be financed by subscription fees, user fees, and donations.

2.        The member user fees, casual user fees, annual subscription fees and tutor honoraria shall be determined by the general meeting from time to time.

3.        The auditors of the Society's accounts shall be appointed by the general meeting.

4.        The bankers of the Society shall be appointed by the Steering Committee on behalf of the Society. All Society's funds must be kept in a bank account under the name "Seliba Sa Boithuto".

5.        The funds and property of the Society shall be utilized solely for the promotion of the aims and objectives of the Society.

6.        The Chairperson, Treasurer and the Secretary shall be signatories of the Society's accounts, with any 2 of the above officers as signatories. Contracts and other documents binding the Society shall be executed by any 2 of the above officers.

7.        At all Steering Committee meetings a quarterly financial report shall be given.

8.        Use of the Society's funds shall be subject to regulations that shall be made and / or amended from time to time.

9.        The Financial Year will be from the 1st of January until 31st of December of the same year.

10.     AUDITORS

(a)      Auditors of the Society's accounts shall be appointed by the Steering Committee before the beginning of the accounting year.

(b)      ll of the Society's accounts, records and documents shall be open for inspection by the auditors at any time. The Treasurer shall produce an account of his receipts and payments and a Statements of Assets and Liabilities made up to a date, which shall not be less than six weeks and not more than three months before the date of the annual general meeting. The auditor shall examine such accounts and statements and certify whether or not they are found to be correct, vouched or in accordance with the Society's regulations.

(c)      A copy of the auditors report on the accounts and statements shall be available to all members at the same time as the notice convening the annual general meeting Is sent out.

(d)      No auditor shall be an office bearer of the Society.

 11.     INSPECTION OF ACCOUNTS AND LIST OF MEMBERS:

The books of accounts and all documents relating thereto and a list of members of the Society shall be available for inspection at the office of the Society by any officer or member of the Society on giving not less than seven days notice to the Society.

12.        THE STEERING COMMITTEE

(a)      The Steering Committee shall not be permitted to enter into any liability that exceeds M5000 without the written permission of the SSB Trust.

(b)      The Steering Committee shall submit annually a written report on the inventory and state of depreciation of the equipment and learning materials of each Centre to the SSB Trust and the AGM.

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