C16 (a) (b) (c)
Midgets, TQ Midgets, Sprintcars, Minisprints, Solos, Sidecars and Super Saloons After consultation with the technical committees, competitors and tracks of the class(es) concerned, the Directors can alter or add to the regulations or technical rules relating to the Midget, TQ Midget, Sprintcar, Minisprint, Solo, Sidecar and Super Saloon classes. Ministocks, Production Saloons, Modified Sprints, Youth Ministocks, Quarter Midgets, Junior Solos, Peewee Solos and Youth Saloons The Directors can alter or add to the regulations or technical rules in the above classes. FINANCIAL PROCEDURES The financial year will commence on 1 April and end on 31 March of the following year. An audited statement of accounts will be prepared for each financial year and circulated to all promoting bodies at least 14 days prior to the AGM. The Directors will appoint an Auditor, who will be a member of the New Zealand Institute of Chartered Accountants. The appointed Auditor will perform all that is required as set down in the rules of the Institute. The Directors can enter into a loan agreement or operate a bank overdraft where such borrowings do not exceed 50% of SNZâ€&#x;s assets, cash or otherwise. All real and personal property owned by SNZ will be held and administered in the corporate name and title of SNZ, which, as such, may sue and be sued, and may recover any monies due to SNZ, whether by any member, club or other person or body. The Directors can invest any of SNZâ€&#x;s funds not immediately required to carry out any of the functions of SNZ, on such securities authorised by law for the investment of trust funds. The income and property of SNZ, from whatever source derived will be applied solely towards achieving the objects of SNZ.
C17 CONTROL AND USE OF THE COMMON SEAL The seal will consist of the words. "Speedway New Zealand (Incorporated) Common Seal", set up as a circular stamp and will be in the custody of the CEO, who will affix it to such documents as the Directors may from time to time direct. The CEO, the President and/or a Director will sign the common seal. C18 WINDING UP If, upon the winding up or dissolution of SNZ, there remains after the satisfaction of all debts and liabilities, any property whatsoever, the same shall not be paid or distributed among the members of SNZ but shall be given or transferred to some other organisation or body having objects similar to the objects of SNZ, or to some other charitable organisation or purpose, within New Zealand. C19 ALTERING THE RULES No addition to or alteration of the non-profit aims, personal benefit clause or the winding up clause can be confirmed without the approval of the Inland Revenue Department. The provisions and effects of this clause will not be removed from this document and will be included and implied into any document replacing this document.
2010 ELECTRONIC RULEBOOK