CHAPTER VII – Finances

Art. 7. Annual accounts
The fiscal year of RSPO association shall be from the first day of July until the thirtieth day of June.

The annual accounts of RSPO are audited and certified at the end of each fiscal year by one or more certified accountants.

The treasurer submits to the Executive Board the annual accounts for the past year as well as the budget for the following year. The accounts and budgets have to be approved by the General Assembly meeting.

Art. 8. Membership fees
The Executive Board determines the amount of the membership fees and all other dues of the members, as well as the method of payment and submits them to the approval of the General Assembly meeting.

All modifications to the membership fees or other dues shall be effective after a period of thirty days from the notification of such modification to the members. This notification shall be in writing.

The Executive Board proposes to the General Assembly the maximum membership fee for one year.

The Executive Board proposes to the General Assembly a reduced membership fee that enables appropriate organisations to become full member of the RSPO.

The Executive Board is empowered to decide which active member is eligible for a reduced fee.

The Executive Board will determine affiliate membership fees, if & when applicable. The full fee amounts to € 2000 for as long as the General Assembly does not decide otherwise.

Art. 9. Members interests in the assets of the association
All interests of each member in the funds, investments and other assets belonging to RSPO shall immediately cease and terminate in the event that the membership of such member in RSPO shall terminate, for any reason whatsoever.

In the event of such termination, such member and the representatives of such member shall have no claim on account of the other members, or their representatives, or any of them, with regard to the assets of RSPO.