17.1 The financial year of the Council will run from 1 January to 31 December of each year.
17.2 The Council is a non-profit making organization. Its income and assets must be applied solely towards carrying out the objectives stated in this Constitution, and at no time may there be a distribution, whether in money, property or otherwise, from its income or assets towards members as such or to any relative, trustee or representative of or for a member: Provided that this article will not prevent the payment to a member of a reasonable salary and expenses or expenses only as approved by the Board, after considering recommendations from the Management Committee, in respect of specific services rendered to the Council.
17.3 The Board may receive voluntary subscriptions and donations and may canvass prospective donors for financial assistance.
17.4 The Board must make every effort to encourage the media industry to fund the Council in order to allow it to become self-reliant and sustainable in the long term.
Recent Comments