GENERAL PROVISIONS
35.1 FIBA is the sole holder of broadcasting rights, licensing and marketing rights, and other rights associated with the game yet to be developed for official competitions as defined in the FIBA Internal Regulations, with the exception of the Olympic Games. When entering into contracts relating to such broadcasting, licensing and marketing rights that affect the financial interests of the Zones, the interests of the Zones shall be taken into account. At the decision of the Central Board, FIBA may assign these rights to a third party.
35.2 The income of FIBA shall consist of:
a. Fees from the national member federations;
b. Income from the granting of licences for the use of FIBA rights, e.g. marketing and broadcasting rights;
c. Income generated from other activities;
d. Donations, subsidies and miscellaneous returns; and
e. Fines in accordance with the relevant regulations.
35.3 The budget period of FIBA covers four (4) years, beginning on the first (1 st) day of January, following the final round of the FIBA Basketball World Cup.
35.4 The financial year of FIBA begins on the first (1st) day of January and ends on the thirty-first (31st) day of December of the same year.
35.5 Financial statements in accordance with the laws of Switzerland are drawn up each year as of the thirty-first (31st) day of December.
35.6 FIBA’s accounts must be audited annually by an independent external auditor, registered in Switzerland. The appointment of the auditor is made by the Central Board.
35.7 The Swiss Franc is the currency of reference for FIBA. The Central Board has the right to choose a new currency of reference should FIBA’s financial interests, the financial policies of Switzerland, and/or the international situation require so.
35.8 Only available resources shall be a security against any liabilities of FIBA.
35.9 FIBA will indemnify any person who is or has been an official of FIBA as a member of the Central Board, the Executive Committee, the Secretariat of FIBA, the Commissions, Panels, Tribunals, and other persons appointed to act in an official capacity on behalf of FIBA against the following:
a. Any liability to another person (other than FIBA or a related corporate body) that arises from being an official of FIBA unless the liability arises out of grossly negligent or wilful conduct; or
b. Any liability for costs and expenses incurred by that person in their capacity as an official of FIBA; or
c. In defending proceedings that arise from being an official of FIBA, whether civil or criminal, where judgement is given in favour of the person or in which the person is acquitted. CHAPTER 7: JUDICIAL AND OTHER BODIES