True accounts shall be kept for sums of money received and spent by the Association and the matter in respect of which such receipt and expenditure takes place, and the property / credits and liabilities of the Association and subject to any reasonable restrictions as to the time and manner of inspecting the same, that may be imposed in accordance with the regulation for the time being of the Association shall be open to the inspection of the members. Once at least in every year the accounts of the Association shall be examined and the correctness of the Balance Sheet ascertained by a qualified auditor.

We the following persons whose name and addresses are subscribed below are desirous of being formed into an Association in pursuance of the Memorandum of Association