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11. Property remaining on 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 winding up or 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 association or associations having objects similar to those of the Corporation and which is or are by its or their rules prohibited from distributing any income or property among its or their members. Such association or associations shall be determined by the members of the Corporation at or immediately before the time of such dissolution of the Corporation.