15. Dissolution or winding up

In the event of the dissolution or winding up of the

Corporation, if there remains after the satisfaction for all its debts and liabilities and outgoings, any property whatsoever, such property shall not be distributed among the members of

. the Corporation but the same shall be given or transferred to some institution or institutions having objects similar to the objects of the Corporation and which is or are by the rules .

thereof prohibited from distributing any income or property among its or their members at the discretion of the Board of

Directors of the Corporation. If such property or any part thereof cannot be disposed of in accordance with the foregoing provisions or this section such property or part thereof shall be applied to some charitable object which shall be determined by the Board of Directors of the

Corporation.

Sri Rathnajothi Community Development and 7

Social Foundation ([11corporatio11) -

Act, No. 18 o/2008