Article 16
1. For Section V (First and other Meetings of Trustees) of the Act of 1841 there shall be substituted–
“V. And be it enacted, That the said Trustees shall meet in the Court House or any other suitable Place in the Town of Thurso within Two Months after the passing of this Act, or as soon thereafter as conveniently may be, and proceed to the Execution of this Act, with Power to adjourn from Time to Time; and the said Trustees shall also hold an Annual General Meeting in the Year One thousand eight hundred and forty-two, and in every year thereafter at such time as the Management Committee (whom failing the Trustees) shall think fit, with Power to adjourn from Time to Time and the Clerk to the Trustees shall notify the Trustees of such Meetings by means of an advertisement in a paper circulating in Caithness not less than 42 days before the Annual General Meeting Provided that not more than fifteen months shall elapse between the date of the Annual General Meeting and that of the next and in all Cases Five of the said Trustees shall be a Quorum, and at their Meetings the Trustees present at such Meetings shall elect their Preses for the Time; and all Questions shall be decided by a Majority of the Trustees present at the respective Meetings; the Preses, in the case of an Equality of Votes, having a casting Vote besides his Vote as a Member of the Meeting.”.
2. Section XI (Trustees to appoint officers. Books and Accounts to be kept.) shall have effect as if the words “or before the First day of May” were omitted and replaced by the words “within seven months of the end of the Accounting Reference Period of the Trust which Period shall run from the 1st April to the 31st March in each year unless the Management Committee (whom failing the Trustees) shall otherwise decide”.
3. Section XII (Accounts to be audited annually) shall have effect as if the words “First day of May” were omitted and replaced by the words “the end of the Accounting Reference Period of the Trust”.
4. Section XIII (Trustees to make out annually an Account of their Receipts and Expenditure, and transmit a Copy thereof to the Sheriff Clerk of the County.) shall have effect as if the words “on or before the Thirty-first Day of January in each Year” were omitted and replaced by the words “within twenty-eight days of the Auditor having reported the said Account to the Annual General Meeting”.
5. Section XIV (An Auditor to be appointed) shall have effect as if the words “Some Time during the Month of April in each and every Year thereafter” shall be omitted and replaced by the words “at the Annual General Meeting”.