15. Seal of the body corporate

Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk

(1)

The seal of the body corporate shall not be affixed to any instrument whatsoever, except in the presence of two members of the Board who shall sign their names to the instrument in token of their presence and such signing shall be independent of the signing of any person as a witness.

(2)

The seal of the body corporate shall be in the custody of an office bearer of the Board as may be decided by the

Board.

Property remaining on dissolution

.16.

(1)

If upon the dissolution of the body corporate there remains after the satisfaction of all its debts and liabilities any property whatsoever, such property shall not be distributed among the members of the body corporate, but shall be given or transferred to any other appropriate institution having objects similar to those of the body corporate, and which is by the rules thereof prohibited from distributing any income or property among its members.

(2)

Where the requirements of subsection (1) cannot be complied with the property remaining shall be transferred to the Public Trustee in terms of the provisions of the Public

Trustee Ordinance (Chapter 88) or to the consolidated fund, as the case may be.

(3)

The manner of transferring the remaining property under subsection (1) or (2) shall be determined by the members of the body corporate with the approval of the

Registrar of the Voluntary Social Service Organizations appointed under the Voluntary Social Service Organizations

(Registration and Supervision) Act, No. 31 of 1980, immediately before the dissolution at a general meeting by the majority of votes of the members present.

Read on from s 17