0NASFUND Contributors Savings & Loan Society Ltd

This policy sets out the level of financial delegation required by the society’s interim Board and management to ensure there is effective and prudent control over the finances of the society.

PROCEDURE & AUTHORISATION LEVELS:

The following rules will affect the exercise of authority under this policy.

• (a)      Authorities are vested with a specific position and to that position’s area of responsibility only. A person formally in an acting role will carry the authority attached to the position.
• (b)      Approvals to include personnel on approved authority’s lists can only be given by the Society Board through the recommendation of the Manager.
• (c)      Existing Authority levels attached to any given position may, with the approval of the Chairman be delegated to other personnel if it is deemed necessary.