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Chapter
XII
Financial
Year, Endowments And Annual Resources
Art. 51 - Financial
Year
The financial year of the League starts
on the 1st January and terminates on 31st December of each year.
Art. 52 - Endowments
and Annual Resources
The EBL obtains the means necessary to
carry out its objects from:
| a) |
annual membership dues from NBOs.
The dues are payable in advance on the 1st January of the financial
year to which they relate. Dues unpaid by 30th April of the financial
year to which they relate will automatically be increased by 10%.
An NBO will be treated as being in arrears if it has not paid its
annual dues by the 30th April of the year to which it relates.
Whilst an NBO is in arrears
with the payment of annual dues and/or other sums payable to the
League the NBO is not in good standing and is prohibited from nominating
or entering any pairs or teams to participate in any championship
or competition of the League;
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| b) |
Subscription fees for championships
and competitions and events organised by the EBL; |
| c) |
Income from the League's assets; |
| d) |
Any other lawful source including
money from sponsorship. The EBL may acquire immovable property. It
has the right and power to borrow money from national or private banking
institutions in order to purchase immovable property. |
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