1. The executive council shall have power from time to time to appoint a secretary-treasurer, and to remove him from office, and to fix his remuneration and the terms of his engagement.

2. The executive council may appoint an assistant secretary-treasurer or acting secretary-treasurer, who shall for the purposes of these presents, be deemed to be the secretary-treasurer.

3. The secretary-treasurer shall make and have charge of all records of the association and of the executive council. He shall have charge of the offices and property of the association, and have supervision of all subordinate officers and employees. He shall furnish upon request information on any subject within his jurisdiction to the executive council. He shall make report to the executive council of the conduct of his office. He shall perform all duties imposed upon him by the by-laws and shall be subject to the direction of the executive council.

He shall collect all dues, receive and account for all moneys due to the association, pay out moneys only upon cheques signed by the president or one of the vice-presidents, and countersigned by the secretary-treasurer.

4. The secretary-treasurer, or acting secretary-treasurer, and the assistant secretary-treasurer, shall each give to the Canadian Bankers' Association a bond in amount and form satisfactory to the executive council, and the premium thereon shall be paid by the association.

5. A casual vacancy in the office of the secretary-treasurer shall be immediately filled by the council, and the person appointed to fill such vacancy shall hold office only while the person in whose place he was elected would have held office.

6. The secretary-treasurer and all subordinate (employees may retire from their office by giving three months' notice in writing of their intention so to do, and such resignation, if accepted, shall take effect upon the expiration of such notice.

The association, when requiring to dispense with their services, shall give to the secretary-treasurer and all subordinate officers and employees three months' notice in writing of their intention so to do, or three months' salary in lieu of notice.