39. (a) The affairs of ECU are managed by the Board in the period between the General Assemblies, insofar as they are not delegated to another body without possibility of further delegation.

(b)   Issues which can only be decided by the General Assembly are beyond the competence of the Board.

40. It shall be the responsibility of the Board to:

(a)    manage the ECU in accordance with the provisions contained in the Memorandum and Articles of Association;

(b)   organise the various Championship cycles for men, women and youths; comprehensive regulations for the respective Championship cycles must be printed and circulated to all Members by not later than January 31st of each year;

(c)    affiliate or otherwise associate the ECU to international organisations having similar or complementary objects;

(d)   promote the observance by the Members of the FIDE Code of Ethics as a whole;

(e)   establish and amend as necessary bye-laws for the routine day-to-day operation of the ECU;

(f)    borrow, secure and raise money by the issue of debentures or debentures stock, or other security as approved by a General Assembly, provided that the Board may borrow up to a maximum of Euros 10,000 without recourse to a General Assembly;

(g)    invest the funds of the ECU and deal with its assets to the best advantage;

(h)   certify and authenticate documentation against the payment of such fee as the Board may determine from time to time;

(i)     carry out all such other activities as may be incidental or conducive to the attainment of the Objects of the ECU;

41. Subject to the provisions approved by a General Assembly, members of the Board (other than the President and the Secretary General who shall be entitled to stipends approved by the General Assembly) shall hold office in an honorary capacity and no member of the Board shall be personally responsible for any liability lawfully incurred by the ECU.

42. (a) The Board may take and agree decisions by letter, fax or e-mail if no Board member demands a meeting. The President will determine whether to call a Board meeting or in his absence the Deputy President. Minutes of the discussions and final decisions will be made in all cases.

(b)   A quorum shall be at least 50% of the members of the Board in post at the time of the meeting.

43. The President shall be bound to convene special meetings of the Board if so requested by at least three Board members. In their request, which shall be in writing, the said members shall state the object for the convening of the meeting. The meeting shall be called and held not later than one month from receipt of the request.

44. Decisions of the Board require a simple majority of votes. The President, or in his absence the Deputy President, has a second and casting vote to establish a majority.

45. The Board shall not discuss matters that are not contained in the Agenda with the exception of any matter, which, in the view of the Board, is considered to be of an urgent or important nature.

46. (a) The President shall convene and preside over all meetings of the Board.

(b)   In cases of great urgency the President may take decisions normally taken by the Board. Any such decision taken by the President is subject to ratification by the Board at the next meeting.

47. In the absence of the President, the Deputy President shall enjoy all the powers accorded to the President under these Articles of Association. In the absence of both these officers, the other Board members present shall elect one of the members to preside over the meeting.

48. (a) The Secretary General is responsible for all administrative activities within the Board and he may appoint a Member from the Board to assist him in his activities.

(b)   If not decided otherwise by the General Assembly, the Secretary General is responsible for keeping all the minutes of General Assemblies and Board Meetings. He is also responsible for taking care of the ECU’s correspondence, requesting results from the tournament organisers of activities which are held under the auspices of the ECU and he is also responsible for holding a record of all events held under the ECU’s auspices.

(c)    The Secretary General is also responsible for advising and communicating to all members the ECU’s activities.

(d)   Any contract or agreement to be made between the ECU, on the one hand, and any third party having of more than 10,000 Euros, on the other hand, is to be submitted to the Board for authorisation and presented for information at the next General Assembly subject to appropriate editing of confidential matters.

49. (a) It shall be the duty of the Treasurer to exercise overall control over the financial administration of the ECU and to submit duly audited accounts to the Board. The financial year of the ECU shall run from the 1st January to the 31st December of each year. The Treasurer shall present the accounts to the Annual General Assembly for approval.

(b)   The Treasurer is responsible for looking after the ECU’s assets in terms of any property, finances, fixtures, clocks, boards, sets, books etc. These assets must be audited on an annual basis.

(c)    The Treasurer is responsible for keeping an updated list of all Members and Associate Members and dues received, and such list should be readily available to all Members of the ECU.

(d)   The annual budget of ECU shall be prepared by the Treasurer before the annual General Assembly and is subject to acceptance by the General Assembly. The ECU budget is based on the EURO currency. For extraordinary expenditure, not contained in the budget, a request can be submitted to the Board. The Board may approve such expenditure  if it is  in the interests of the ECU.

(e)   The Treasurer must obtain due authority from the Board to make any payment over the limit as established by the Board from time to time.

50. No claims for moneys due to the ECU shall be abandoned without the approval of the Board. Similarly no property shall be written off without the consent of the Board.

51. All ECU bank accounts shall be in the name of ECU. All bank mandates shall be signed by the Treasurer and at least one of the following:

(a)    the President;

(b)   the Deputy President;

(c)    the Secretary General; and

(d)   any other person appointed by the Board to sign in this respect.

52. ECU’s revenues (including Dues) are derived from:

(a)    membership subscriptions;

(b)   entry fees for tournaments organized by ECU or organized by mandate of ECU;

(c)    fees for service provided by ECU; and

(d)   any other revenues approved by the Board.

The amount of membership subscriptions and entry fees shall be stipulated in the Financial Regulations or the Tournament Regulations and thereby be subject to approval by the General Assembly.

53. The officials working for the ECU have the right to have reasonable expenses reimbursed. The Board will formulate guidelines which require approval by General Assembly. Reimbursement of expenses beyond these guidelines must be approved by the General Assembly.