Finance

99. The funds of the Institute, shall subject to the provisions of the Memorandum of Association, be applied in the first place in defraying current expenses, and subject thereto shall be applicable in or towards the acquisition by purchase, lease or otherwise, and furnishing and maintenance of suitable premises for the use of the Institute, and for such other purposes as the Council shall from time to time think expedient with a view to the promotion of the objects of the Institute or any of them. The administration of the funds shall be subject to the general direction of the Council.

100. Subject to clause 4 of the Memorandum of Association, the Officers and Servants of the Institute shall receive such remuneration as the Council shall from time to time determine.

## 101. No person, except the Council and persons duly authorized by it and acting within the limits of the authority so conferred, shall have authority to give receipts for moneys or otherwise, or to enter into any contract, so as thereby to impose any liability on the Institute, or otherwise to pledge the credit of the Institute.

102. All cheques, promissory notes, drafts, bills of exchange, and other negotiable instruments, shall be made, signed, drawn, accepted and endorsed, or otherwise executed by the person or persons from time to time authorised by a resolution of the Council.

Accounts

103. The Council shall cause proper books of account to be kept with respect to all sums of money received and expended by the Institute and the matters in respect of which the receipts and expenditure take place, all sales and purchases of goods by the Institute, and the assets and liabilities of the Institute.

104. Subject to clause 9 of the Memorandum of Association, the Council shall from time to time determine whether and to what extend and at what times, and places and under what conditions or regulations the accounts and books of the Institute or any of them shall be open to the inspection of Members not being Members of the Council, and no Member (not being a Member of the Council) shall have any right of inspecting any account or book or document of the Institute except as conferred by the Ordinance or authorised by the Council or by the Institute in General Meeting.

105. The Council shall from time to time in accordance with Section 122, 123 and 128 of the Ordinance, cause to be prepared and to be laid before the Institute in General Meeting such Income and Expenditure Accounts, Balance Sheets, and Reports as are referred to in those Sections.

106. A copy of every Balance Sheet (including every document required by law to be annexed thereto) which is to be laid before the Institute in General Meeting, together with a copy of the Auditor's Reports shall not less than fourteen days before the date of the Meeting be sent to all persons entitled to receive notices of General Meetings of the Institute.

Notices

107. A notice may be given by the Institute to any Member either personally or by sending it through the post to him at his Registered Address in Hong Kong. Where a notice is sent by post, service of the notice shall be deemed to be given by properly addressing and posting an envelope wrapper or package containing the Notice and to have been effected at the time when the said envelope wrapper or package containing the same is posted, and in proving service it shall be sufficient to prove that such envelope wrapper or package was properly addressed, stamped and posted.

108. If a member has no registered office in Hong Kong and has not supplied to the Institute an address within Hong Kong for the giving of notices to him, a notice advertised once in the English and once in Chinese in such newspapers as the Secretary for Home Affairs may from time to time approve for the purposes of giving notices, shall be deemed to be notice to such member on the day on which the advertisement appears.

Winding-Up

109. The provisions of clause 8 of the Memorandum of Association relating to the winding up or dissolution of the Institute shall have effect and be observed as if the same were repeated in these Articles.

## As amended by Special Resolution passed on 2nd May 2000