Hong Kong Regulations

THE HONG KONG ASSOCIATION OF BANKS BY-LAWS - BYLAW 31

Accounts and audit

(1) The Committee shall maintain proper accounts of all transactions of the
Association and shall prepare for every financial year

(as determined by the Committee) a statement of the accounts of the
Association, containing an income and expenditure account and a balance sheet,
both of which shall be signed by one continuing member and one elected member
of the Committee.

(2) The Committee shall appoint an auditor who shall be entitled to have
access to all books of account, vouchers and other financial records of the
Association and to require such information and explanations thereon as he
thinks fit, and such auditor shall audit the statements drawn up under
paragraph (1) as soon as possible and shall make a report thereon to the
Committee.

(3) A copy of the signed statement of accounts together with the audit report
thereon shall be transmitted to members with the notice convening the annual
general meeting.

(4) The Committee may appoint a Treasurer to control the funds of the
Association either on an honorary or salaried basis upon such terms and for
such period as the Committee shall think fit and may delegate to any such
Treasurer such duties as may be considered appropriate by the Committee.