14. Bank Account

One or more bank accounts shall be maintained, in the name of the Association, for depositing the funds of the Association or for investing them. Accounts shall be opened only with a scheduled commercial bank and shall be operated jointly by the Treasurer and the Secretary or the President. The decision to open, maintain and close any bank account shall be taken by the Management Committee. The opening / closure of any bank account and investment of funds, during the financial year, (with explanatory notes) shall be reported by the President in his report to the General Body at the Annual General Meeting.