Cap. 638 Art. 29Monies payable by the College.

(1) All monies received by the College shall be paid into a bank or banks appointed as bankers of the College by a resolution of the Board of Governors of the College. Such monies shall, as far as practicable, be paid into any such banks from day to day, except such sum as the College may authorise to be retained to meet petty disbursements and immediate cash payments.

(2) All payments out of the funds of the College, other than petty disbursements not exceeding a sum to be fixed by the College, shall be made by such officer or officers of the College as it shall appoint or designate for that purpose.

(3) Cheques against and withdrawals from any bank account of the College shall be signed by the Principal, or such other member or officer of the College as may be authorised by the Board of Governors of the College for that purpose.