POLICY:

All cheques, drafts, bills of exchange, promissory notes and other negotiable instruments must be signed by any two members of the committee or employees of the Society, being members or employees authorized to do so by the committee. (TGSI 1999: Rule 40.4)

RESPONSIBILITIES

It is the responsibility of the President to ensure that:

  • Members are aware of this policy;
  • Any breaches of this policy coming to the attention of the Management Committee are dealt with appropriately.

It is the responsibility of members to ensure that their usage of Glebe Society cheques and the transfer of funds via internet banking conform to this policy.

PROCEDURES

  • All cheques must contain two eligible signatures. Eligible signatories are Management Committee members or employees of the Society who have been previously nominated and authorised by the Management Committee.
  • Any two of the above have the authority to sign cheques and make and authorise payments via internet banking.
  • Signatories cannot sign a cheque, make a payment via internet banking, or authorise a payment payable to them.
  • Signatories cannot sign a blank cheque and all details on the cheque form must be filled in before signature.

AUTHORISATION

  • Management Committee on 9 October 2013