There shall be two official Crown Tournaments and two official Coronations
per year in the Kingdom. These shall be held on the first or second weekend
of the following months:
January - Twelfth Night Coronation
May - May Crown Tournament
July - Mid Winter Coronation
November - November Crown Tournament
Other events shall not be scheduled on any date where a Crown Tournament or Coronation is to be held.
The hosting of the four official Crown Events shall be equitably distributed among the branches of Lochac as far as is possible.
Bids from groups wishing to host a Crown Event shall be collected by the Seneschal. The Crown shall choose between the bids at least nine months before the Crown Event, and earlier if They think advisable; but in no case shall the decision be made more than a year before the proposed Event.
All bids for Crown Events must include a detailed budget. The proposed budget shall include a fee per person attending the event, as a contribution paid to the Kingdom Travel Fund. The amount of the fee shall be as determined from time to time by the Council of the Purse. The Council of the Purse may reject a bid entirely based on the proposed budget, however it may seek modifications to that budget in preference to rejection . Any modification to the budget must be agreed to by the Council of the Purse and the bidding group. After the budget for a Crown Event has been approved by the Council of the Purse, no changes shall be made to the budget without the approval of the Kingdom Exchequer.
The autocrat of each Crown Event shall submit a final financial report to the Lochac Exchequer within two months of the holding of the Event. If the report is not received in this time, the group may not hold any official events until a satisfactory report is received by the Lochac Exchequer.
The profit from each Crown Event shall be divided as 50% to the Kingdom and 50% to the hosting group. The autocrat of the event shall send the Lochac Exchequer a cheque for the Kingdom share of the profits within two months of the Event being held.
If the event makes a loss, 50% of the loss on approved budgeted items only shall be borne by the Kingdom with 50% borne by the hosting group. If the loss is as a result of expenditure outside of the approved budget, then the whole of the loss shall be borne by the hosting group.
The provisions of subsections iv and vii above may be varied in exceptional circumstances by unanimous decision of the Council of the Purse.