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Treasurer of vocational education committees.
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47.—(1) Every vocational education committee shall at its first meeting appoint a banking company to act as treasurer of such committee.
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(2) A vocational education committee may from time to time accept the resignation or revoke the appointment of a banking company as treasurer and appoint another such company as treasurer.
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(3) A vocational education committee may take from its treasurer such security as may be approved by the Minister.
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(4) When appointing a treasurer, a vocational education committee shall fix with such treasurer the amount of interest to be allowed for money from time to time lying to the credit of such committee with such treasurer.
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