Sri Lanka Consolidated Acts

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Special Educational Society (Incorporation) Act (No. 3 of 1999) - Sect 10

Property remaining on dissolution

10. If upon the dissolution of the Corporation there remains after the satisfaction of ail its debts and liabilities any property whatsoever, such property shall not be distributed among the members of the Corporation, but shall be given or transferred to some other institution or institutions having objects similar to those of the Corporation, and which is or are by the rules prohibited from distributing any income or property among its or their members. Such society or societies shall be determined by the members of the Corporation at or immediately before the time of dissolution of the Corporation.


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