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POR: Chapter 3: The Scout Group

Rule 3.50: Bank Accounts

  1. All monies received by or on behalf of the Group either directly or via supporters, must be paid into a bank account held in the name of the Group. This account may, alternatively, be a National Savings account or a building society account.

  1. The account(s) will be operated by the Group Treasurer and other persons authorised by the Group Executive Committee.

  1. A minimum of two signatories must be required for any withdrawals.

  1. Under no circumstances must any monies received by a Section or supporter on behalf of the Group be paid into a private bank account.

  1. Cash received at a specific activity may only be used to defray expenses of that same specific activity if the Group Executive Committee has so authorised beforehand and if a proper account of the receipts and payments is kept.

  1. Funds not immediately required must be transferred into a suitable investment account held in the name of the Group.

  1. Group funds may only be invested in authorised funds or in special schemes organised by the Scout County which have been approved by Headquarters.

  1. Group funds may be invested in one of the special schemes run by Headquarters.

  1. The bank(s) at which the Group account(s) are held must be instructed to certify the balance(s) at the end of the financial period direct to the scrutineer, independent examiner or auditor as appropriate.

 
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