Hong Kong Ordinances

HONG KONG ACADEMY OF MEDICINE ORDINANCE - SECT 14

Accounts

(1) The Council shall keep proper accounts and records of all financial
transactions and shall, within 5 months of the expiry of a particular
financial year, prepare in respect of that financial year, a statement of
accounts which shall-

   (a)  include an income and expenditure account and a balance sheet; and

   (b)  be signed by the President of the Academy.

(2) The Council shall appoint auditors who shall be entitled at any reasonable
time to-

   (a)  have access to all books of accounts, vouchers and other records of
        the Council; and

   (b)  require such information and explanations as they consider necessary
        to discharge their functions.

(3) The auditors shall, within 7 months of the expiry of a particular
financial year, audit the accounts, prepare a report on the statement of
accounts and send it to the Council.

(4) The Council shall cause the report of the auditors in respect of a
particular financial year to be presented at the annual general meeting of the
Academy next following the receipt by it of such report.

(5) The Council-

   (a)  shall, subject to paragraph (b), determine the period of 12 months
        which is to be the financial year of the Academy; and

   (b)  may determine a period of-

        (i)    12 months;

        (ii)   more than 12 months; or

        (iii)  less than 12 months, as its first financial year.

(6) In this section "financial year" (財政年度) means the period
determined under subsection (5)(a) or (b) as may be applicable. (Enacted 1992)

"financial year" (財政年度)