Section 20: Records and accounts

20. Records and accounts (1) Every officer who is responsible for keeping any account of a registered association or for the collection, receipt, disbursement, custody or control of the money of the association shall keep a record of all money received and paid by him for and on behalf of the association and shall— (a) at least once a year on the accounting date; (b) on his resignation; (c) on vacation of his office; or (d) where required so to do by the rules of the association or this Act, render to the association a true account of all monies received, and paid by him since his appointment or since he last rendered an account, whichever occurs later. (2) The treasurer of every registered association shall, once a year, not later than one month after the accounting date, prepare and submit to the committee a statement of all receipts and payments of the association in respect of the accounting period and of the assets and liabilities of the association existing on the accounting date. (3) Every officer shall, if so required, hand over to the association the balance which on any audit appears to be due from him and all bonds, securities and effects, books, papers or other property of the association in his possession, under his control or entrusted to his custody. (4) Where an officer fails to comply with subsection (3), the committee, any member or the Registrar, acting on behalf of the association, may recover from him by judicial process— (a) the balance due upon any account last rendered by him; (b) all other monies received by him on account of the association; and R16 – 11 [Issue 10] Registration of Associations Act (c) all bonds, securities and effects, books, papers or other property in his possession, under his control or entrusted to his custody. (5) Every registered association shall keep a record containing full details of the source and destination of funds received and disposed of, where the amount of such funds exceeds such amount as may be prescribed in an accounting period. [S. 20 amended by Act 27 of 1986; s. 61 (c) of Act 11 of 2018 w.e.f. 9 August 2018.]