Rule 9: Funds and Properties

1.  All property acquired, or to be acquired by, or on account or on behalf of the Union, real or personal, including Trustees authorised investments and interest thereon, entrance fees, contributions and monies received payable or due shall be the property of the Union and shall be held in trust by the Trustees of the Union.

2.  All funds and monies paid into the Union shall be lodged in a bank or banks approved by the National Executive Council and shall be held for and devoted to the purposes provided for by the Rules and to the expenses incurred in carrying them out.

3.  The National Executive Council may create funds other than those provided for in these Rules and make provisions for their collection, allocation and disbursement, all of which shall be subject to approval by the next Biennial Conference following the setting up of such funds.