Issue link: http://itf.uberflip.com/i/626056
29 Commissions. Such Committees or Commissions may include appropriately qualified persons, other than members of the Board of Directors. THE BOARD MAY APPOINT COMMITTEE AND COMMISSION MEMBERS FOR A TWO YEAR TERM. REPRESENTATIVES MAY BE REMOVED AT ANY TIME BY RESOLUTION OF THE BOARD OF DIRECTORS. (b) (b) (b) (b) The President shall ex-officio be a member of all such Committees and Commissions, without voting rights. (c) (c) (c) (c) Without prejudice to the generality of the sub-paragraph (a) of this Article, the Board of Directors shall appoint the following standing Committees for the Davis Cup, the Fed Cup, the Olympics, the Seniors Competitions, the Junior Competitions and the Wheelchair Tennis Competitions, whose duties shall be as set out in the Regulations for the event, and such other additional Committees or Commissions as they deem necessary from time to time. Such Committees and Commissions shall stand until such time as the Board of Directors determine. The duties of any such Committees or Commissions shall be set out in the Bye- laws. (d) (d) (d) (d) All Committees, Commissions and appointed representatives, shall submit regular reports to the Board of Directors. 26. 26. 26. 26. ACCOUNTS OF THE COMPANY ACCOUNTS OF THE COMPANY ACCOUNTS OF THE COMPANY ACCOUNTS OF THE COMPANY (a) (a) (a) (a) Unless otherwise decided by the Council at the Annual General Meeting, the financial year of the Company shall close on the 31st day of December in each year, and an annual statement of account shall be prepared and independently audited as soon as practicable thereafter. (b) (b) (b) (b) The reporting currency of the Company shall be the lawful currency of The United States of America. (c) (c) (c) (c) The Board of Directors shall cause true accounts of the receipts and disbursements of cash and of the assets and liabilities of the Company to be kept at the Registered Office of the Company or at such other place as the Board of Directors subject to the Act may from time to time appoint. (d) (d) (d) (d) Subject to any reasonable restrictions imposed from time to time by the Board of Directors as to the time and method of inspection, such accounts shall be open to the inspection of Members during normal business hours. (e) (e) (e) (e) The Board of Directors shall at each Annual General Meeting lay before the Council an audited Statement of Account showing : (i) (i) (i) (i) A Statement of Income and Expenditure for the past year and (ii) (ii) (ii) (ii) A Balance Sheet containing a summary of the assets and liabilities of the Company. (f) (f) (f) (f) The Board of Directors shall control the accounts of the Company and any Funds, which may be established for the International Competitions, or other activities of the Competitions or other activities of the Company.