another Member and received by the Secretary at least twenty eight days before the scheduled date of the meeting at which the resolution is to be considered. The Secretary will include the resolution in the notice convening such Meeting.
VI. MEMBERS IN DEFAULT
20. Any Member who shall have omitted to pay an annual subscription within six months after it has become due shall 20.1 be sent a notice requesting payment. No Member shall be allowed to vote at any General Meeting until that subscription has been paid; and 20.2 shall be liable (unless the Committee decides otherwise) to be struck off the list of Members, and shall only be eligible for re-election after payment of all arrears or such part thereof as the Committee shall decide.
VII. EXPENDITURE AND FUNDS
21. 21.1 The Committee shall out of the income of the Club pay all proper administrative, overhead and other expenses of the operation and running of the Club and the management of its affairs. In addition, the Committee may make out of the Club’s income or capital such donations, grants or other payments towards, or for the purposes of, the objects referred to in Rule 3(a), (b) and (c) as they shall deem appropriate from time to time save that (except only with the prior authority of a resolution of at least two-thirds of Members present and voting at a General Meeting of the Club) in any one financial year of the Club such donations, grants or other payments shall not exceed an amount equivalent to 5% of the market value of the Club’s investments at the preceding 31 December as published in the Club’s Annual Accounts. The Committee shall pay all proper administrative, overhead and other expenses of the operation and running of the Club and the management of its affairs out of the income of the Club. In addition, the Committee may make out of the Club’s income or capital such donations, grants or other payments towards, or for the purposes of, the objects referred to in Rules 3(a), (b) and (c) as they shall deem appropriate from time to time. In the event that the Committee resolve to make such donations, grants or other payments which will in any one financial year of the Club exceed an amount equivalent to 5% of the market value of the Club’s investments as published in the last Annual Accounts of the Club published prior to such resolution being made or, if lower, the market value of investments at a date thirty five days prior to the date of the General Meeting called for the purpose, then the Committee must obtain the approval of at least two thirds of Members present and voting at that General Meeting before making such payments. 21.2 Any member of the Committee may present to it a proposal for the making of any such donation, grant or other payment but no such member with a vested or special interest in the intended recipient of any such payment shall take part in any discussion by the Committee of such proposal or vote on the proposal. All such expenditure shall be included detailed in the Annual Accounts presented for approval at the Annual General Meeting following the year of expenditure.
22. The general funds of the Club shall from time to time be invested as the Committee shall think fit.
VIII. ALTERATION OF THE RULES
23. No alteration to these Rules shall be made unless approved may be added to, amended or replaced by resolution of a two-thirds majority of those present and voting at a General Meeting called for the purpose.
IX. DISSOLUTION
24. If the Club Committee decides that it is necessary or advisable to dissolve the Club, it shall call a meeting of all Members of the Club, of which not less than 21 days’ notice (stating the terms of the resolution to be proposed) shall be given. If the proposal is confirmed by a two thirds majority of those present and voting, the Club Committee shall have power to realise any assets held by or on behalf of the Club. Any assets remaining after the satisfaction of any proper debts and liabilities shall be given or transferred to such other charitable institution or institutions having objects similar to the objects of the Club as the Members of the Club may determine, or failing that shall be applied for some other charitable purpose.
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