Does anyone have the following rule in their constitution:
"Small holdings and allotments separate account
A separate account shall be kept by the society of all income and expenditure of the society under rule 4, clause (a). The income shall be applicable as may be determined by the committee of management for the following purposes and for no other purpose whether during the existence of the society or on dissolution:"
There then follows a list of things like payment of repairs and improvements, payment of interest, prizes etc.
Rule 4(a) relates to the objects of the society being the creating and promoting of allotments.
I think it's part of a standard, off the shelf NAS constitution - does anybody know what is meant by 'separate account'?
Thanks all.