Singapore legislation
Regulation 46
Regulation 46
Financial year, and income and expenditure
Subregulation 1
The financial year of the Union shall be from 1st April to 31st March.
Subregulation 2
The Union and each of its constituent bodies shall submit a budget for the approval of the Council of the Polytechnic.
Subregulation 3
All fees and subscriptions shall be paid by a member of the Union directly to the Bursar.
Subregulation 4
Any income of the Union shall be paid by the honorary financial secretary to the Bursar for credit to the appropriate account.
Subregulation 5
All bills of expenditure of the Union and any of its committees, properly incurred in accordance with any budget approved by the Council of the Polytechnic, shall be submitted to the honorary financial secretary.
Subregulation 6
All such bills shall be signed by the honorary financial secretary and the president and forwarded to the Bursar for payment.
Subregulation 7
A payment in respect of any expenditure properly incurred by the Union or any of its constituent bodies shall be made by the Bursar from the appropriate account.