12. Propeny remaining on dissolution

If upon the dissolution of the Corporation, there remains after the satisfaction of all 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 having objects, similar to the objects of the Corporation, and which, are by the rules thereof prohibited from distributing any income or profit among their members. Such institution shall be determined by the members of the Corporation at or immediately before the time of dissolution of the Corporation.

8

Bambalapitiya Flats Buddhist Society

(lncorporatio11) Act, No. 4 of 2008