Bond and balance sheet to be presented to registrar on application for grant or renewal of certificate

(1) The secretary of a club shall, (a) upon the application for, or renewal of, a certificate, lodge with the registrar a bond duly executed by two persons approved by the Financial Secretary, conditioned for the payment by them jointly and severally to the Financial Secretary of the sum of five hundred dollars in the event of the club being struck off the register by the court under section 17 of this Act, in respect of any grounds specified in section 6 (1) (e), (f), (g), (k), (l) or (m) of the Act or by reason of a conviction under section 24 of the Act; 14 (b) upon the application for the renewal of a certificate, lodge with the registrar the last balance sheet of the club on which there shall be endorsed by an auditor a certificate that he has examined the vouchers and accounts of the club and that the balance sheet contains a true and correct statement of the financial position of the club. (2) In this section, the expression “auditor” means any person, not being a member or officer of the club, who is approved by the Minister as a person qualified for the purposes of this section.