VIII.  Principles of Managing Assets

85.   The incomes of the Association are contributed from:

(1).  Calls and Fixed Premiums;
(2).  donations;
(3)  interests;
(4)  any money earned from the activities carried out and services provided by the Managers within the business scope approved;
(5).   any other legal earnings.

86.  The Association shall levy Calls and Fixed Premiums in accordance with the Bye-Laws and the Rules.

87.  All the incomes received and the reserves established by the Association  shall be used for, besides the payments immediately required to meet any claims, costs and outgoings pursuant to the Bye-Laws and the Rules, the development of the Association and any investments as the Board thinks fit.

88.  No incomes and reserves can be distributed among the Members.

89.   The Association shall cause true accounts to be kept of all transaction of the Association in such manner as to show the assets and liabilities of the Association for the time being and the books of account shall at all times be kept at the office of the Managers and shall always be open to the inspection of the Board. 

90.   The accounts of the Association shall be audited at least once in every    fiscal year by the auditor appointed by the Association in accordance with Bye-Law 93.

91.  The accounting of the Association shall be done by qualified accountants. The bookkeeper shall not serve simultaneously as a cashier.

92.    The Chairman and the Managing Director shall be examined before their retiring from office by auditor arranged by the Department of Registration and Administration for Societies and the appropriate Department of the People’s Republic of China.