Regulation 1 – 1
These Regulations shall govern the financial administration of the ASEAN Tourism Information Centre (hereinafter referred to as the Centre).
THE FISCAL YEAR
Regulation 2 – 1
The fiscal year of the Centre shall be the period 1 January to 31 December inclusive.
Regulation 3 – 1
The annual budget based on the annual work programme, shall be prepared by the Executive Director.
Regulation 3 – 2
The annual budget shall cover revenues and expenditures for the fiscal year to which it relates and shall be drawn up in Malaysian Ringgit (And also in US Dollars arithmetically computed at the latest exchange rate only for convenience).
Regulation 3 – 3
The Executive Director shall submit the proposed annual budget and work programme based on submissions of ASEAN overseas Promotional Chapters and proposals of ASEAN Member Countries other than those by ASEAN Promotional Chapters the following fiscal year to the Annual Meeting of the ASEAN SCOT to be held in the current fiscal year. This proposed annual budget and work programme shall be transmitted to all the ASEAN Member Countries at least four weeks prior to the opening of the ASEAN SCOT Meeting.
Regulation 3 – 4
The ASEAN SCOT shall, at its meeting in the current fiscal year, approve the annual budget and work programme for the following fiscal year, after consideration of the proposed annual budget and work programme and of report of the Executive Director and Chairmen of the Working Group on Marketing and Working Group on Research and Development.
Regulation 4 – 1
Approval by the ASEAN SCOT of the annual budget shall constitute authorization to the Executive Director to incur expenses and make payments for the purposes therein specified.
Regulation 4 – 2
At the end of the fiscal year, the unappropriate balance may be transferred in full to the succeeding fiscal year’s contingency fund.
Regulation 4 – 3
The contingency fund shall be excluded from the annual budget of the Centre.
PROVISION OF FUNDS
Regulation 5 – 1
The annual budget for the operations of the Centre shall be met in equal proportion by all ASEAN Member Countries.
Regulation 5 – 2
Upon approval by the ASEAN SCOT of the annual budget, the Executive Director shall;
(a) Transmit the relevant documents to Members; and
(b) Request them to remit their contributions;
Regulation 5 – 3
Contributions shall be considered as due and payable in full within two months of the receipt of the communication of Executive Director referred to in Regulation 5 – 2 above, or as of the first day of the fiscal year to which they relate, whichever is the later.
Regulation 5 – 4
The Executive Director shall submit to the annual meeting of the Council a report on the collection of contributions.
Regulation 6 – 1
A fund shall be established for the purpose of accounting for the revenues and expenditures of the Centre. The contributions paid by ASEAN Member Countries under Regulation 5 – 2 shall be credited to the fund. As the cases arises, a special fund may be established by ASEAN SCOT
Regulation 6 – 2
The purpose and limit of the special fund shall be clearly defined by ASEAN SCOT. Unless otherwise provided by ASEAN SCOT the special fund shall be administered in accordance with the present Regulations.
CUSTODY OF FUNDS
Regulation 7 – 1
The Executive Director shall after consultation with ASEAN SCOT designate a bank or banks to be depository of the Centre’s funds.
Regulation 8 – 1
The Executive Director shall:
Establish detailed financial rules and procedures in order to ensure effective financial administration and the exercise of the maximum economies.
Cause that all payments be made on the basis of supporting vouchers and other documents which ensure that the services or goods have been received, and that payments are not duplicated; and
Maintain an internal financial control which shall provide for an effective current examination and / or review of financial transactions.
Regulation 8 – 2
The Executive Director may, after full investigation, recommend the writing off of losses of exhibits, stores and other assets, to ASEAN SCOT.
Regulation 8 – 3
In concluding contracts for equipment, supplies and other requirements, public tender by at least three suppliers shall be necessary. A tender committee should be constituted comprising the Executive Director and at least two members appointed by the local NTO.
Regulation 9 – 1
The Executive Director shall maintain such accounting records as mentioned hereunder.
Revenues and expenditures of all funds;
Status of appropriations including the original budget appropriations and appropriations as modified by any transfer;
Assets and liabilities of the Centre; and
Such other information as may be appropriate to indicate the current financial position of the Centre.
Regulation 9 – 2
The annual accounts shall be presented in Malaysian Ringgit (and also in United States dollar arithmetically computed at the latest exchange rate only for convenience).
Regulation 9 – 3
Appropriate separate accounts shall be maintained for the special account.
Regulation 9 – 4
The annual accounts shall be submitted by the Executive Director to the external auditing firm not later than end of February following the end of the fiscal year.
Regulation 10 -1
The Executive Director shall arrange for an annual audit of the funds, receipts and expenditures of the Centre by an auditing firm appointed by the ASEAN SCOT.
Regulation 10 – 2
The Executive Director shall submit to the ASEAN SCOT for its approval, an annual budget on revenues and expenditures of the Centre for the fiscal year accompanied by a report from the external auditing firm.
Regulation 10 – 3
The Report of the said external auditing firm shall be sent to the Chief Executives of all ASEAN member NTOs for their comments and observations, not later than March 30 following the end of the fiscal year.
DELEGATION OF AUTHORITY
Regulation 11 – 1
The Executive Director may delegate to other members of staff of the Centre such powers as considered necessary for the effective implementation of these regulations.
Regulation 12 – 1
These regulations shall be effective as of the date of their approval by the ASEAN SCOT, and may be amended only by the ASEAN SCOT.
Regulation 12 – 2
In case of doubt about the interpretation and application of any of the foregoing regulations, the Executive Director is authorized to make a ruling, subject to confirmation by the ASEAN SCOT at its subsequent meeting.
Regulation 12 – 3
Proposals for amendments shall be presented in writing and submitted to tile Executive Director who will circulate copies to all Chief Executives of ASEAN Member NTOs prior to the meeting at which they are to be discussed.