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12. Property remaining on the dissolution of the Corporation

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

If upon the dissolution of the Corporation 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 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 its rules prohibited from distributing any income or property among its or their members. Such institution or institutions shall be determined by the members of the

Corporation at or immediately before the time of dissolution of the Corporation.