As enactedVersion · As enacted
12. Property remaining on dissolution
Feedback & supportOfficial English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.
If upon the dissolution of the Corporation there remains, after the satisfaction of all debts and liabilities, any
Property whatsover, that property shall not be distributed among the members of the Corporation but shall be given or transferred to some other Institution having objeccts similar to the objects of the Corporation which are by the rules thereof prohibited from distributing any income or profit among their members. The institution shall be determined by the members of the Corporation at or immediatel y before the dissolution of the Corporation.