Duties of trustees

(1) The trustees of a friendly society shall audit the accounts as often as the rules require, and every officer in whose charge the accounts are kept shall once in every year prepare, or cause to be prepared, a general statement of the funds and effects during the preceding twelve months, in the form in the Second Schedule, as accurately as possible. (2) Each officer shall transmit such statement to the Registrar General before 1st March in each year, and such statement shall be attested by the auditors, and countersigned by such officer. (3) Every member shall be entitled to inspect such statement without fee, at all reasonable times. (4) Any officer who fails to transmit such statement as is required by subsection (2) of this section, on or before 1st March in any year commits an offence and is liable on summary conviction to a fine of twenty-five dollars for every day after 1st March during which he fails to transmit such statement. (5) Every officer transmitting any fraudulent or wilfully false statement commits an offence and is liable on summary conviction to a fine of two hundred and fifty dollars. (6) A copy of all such annual returns shall in every year be laid before the National Assembly.