38 Insurance The association may effect and maintain insurance. 39 Funds - source (1) The funds of the association are to be derived from entrance fees and annual subscriptions of members, donations and, subject to any resolution passed by the association in general meeting, any other sources that the committee determines. (2) All money received by the association must be deposited as soon as practicable and without deduction to the credit of the association’s bank or other authorised deposit-taking institution account. (3) The association must, as soon as practicable after receiving any money, issue an appropriate receipt. 40 Funds - management (1) Subject to any resolution passed by the association in general meeting, the funds of the association are to be used solely in pursuance of the objects of the association in the manner that the committee determines. (2) All cheques, drafts, bills of exchange, promissory notes and other negotiable instruments must be signed by 2 authorised signatories. 41 Association is non-profit Subject to the Act and the Regulation, the association must apply its funds and assets solely in pursuance of the objects of the association and must not conduct its affairs so as to provide a pecuniary gain for any of its members. Note. Section 5 of the Act defines pecuniary gain for the purpose of this clause. 42 Distribution of property on winding up of association (1) Subject to the Act and the Regulations, in a winding up of the association, any surplus property of the association is to be transferred to another organisation with similar objects and which is not carried on for the profit or gain of its individual members. (2) In this clause, a reference to the surplus property of an association is a reference to that property of the association remaining after satisfaction of the debts and liabilities of the association and the costs, charges and expenses of the winding up of the association. Note. Section 65 of the Act provides for distribution of surplus property on the winding up of an association. 43 Change of name, objects and constitution An application for registration of a change in the association’s name, objects or constitution in accordance with section 10 of the Act is to be made by the public officer or a committee member. 44 Custody of books etc Except as otherwise provided by this constitution, all records, books and other documents relating to the association must be kept in New South Wales: (a) at the main premises of the association, in the custody of the public officer or a member of the association (as the committee determines), or (b) if the association has no premises, at the association’s official address, in the custody of the public officer. 45 Inspection of books etc (1) The following documents must be open to inspection, free of charge, by a member of the association at any reasonable hour: (a) records, books and other financial documents of the association, (b) this constitution, (c) minutes of all committee meetings and general meetings of the association. (2) A member of the association may obtain a copy of any of the documents referred to in subclause (1) on payment of a fee of not more than $5 for each page copied. (3) Despite subclauses (1) and (2), the committee may refuse to permit a member of the association to inspect or obtain a copy of records of the association that relate to confidential, personal, employment, commercial or legal matters or where to do so may be prejudicial to the interests of the association. 46 Service of notices (1) For the purpose of this constitution, a notice may be served on or given to a person: (a) by delivering it to the person personally, or (b) by sending it by pre-paid post to the address of the person, or (c) by sending it by facsimile transmission or some other form of electronic transmission to an address specified by the person for giving or serving the notice. (2) For the purpose of this constitution, a notice is taken, unless the contrary is proved, to have been given or served: (a) in the case of a notice given or served personally, on the date on which it is received by the addressee, and (b) in the case of a notice sent by pre-paid post, on the date when it would have been delivered in the ordinary course of post, and (c) in the case of a notice sent by facsimile transmission or some other form of electronic transmission, on the date it was sent or, if the machine from which the transmission was sent produces a report indicating that the notice was sent on a later date, on that date. 47 Financial year The financial year of the association is: (a) the period of time commencing on the date of incorporation of the association and ending on the following 30 June, and (b) each period of 12 months after the expiration of the previous financial year of the association, commencing on 1 July and ending on the following 30 June. Notes. (1). Schedule 1 to the Act provides that an association’s constitution is to address the association’s financial year. (2). Clause 19 of the Regulation contains a substitute clause 47 for certain associations incorporated under the Associations Incorporation Act 1984.