7. Debts due by and payable to society

All debts and liabilities of the Society existing on the day preceding the date of commencement of this Act shall be paid by the Corporation hereby constituted and all debts due to and subscriptions and contributions payable to the Society on that day shall be paid to the Corporation for the purposes of this Act.

Colombo Buddhist Theosophical Society 5

(Incorporation) Act, No. 25 of 1998