Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsNon-payment of dividends and profits
| 9. The income and property of the Corporation shall be applied solely towards the promotion or the furtherance of the objects of the Corporation and no part or portion thereof shall be paid or transferred directly or indirectly by way of dividend, bonus or otherwise by way of profit to the members of the Corporation; but nothing herein contained shall prohibit the payment of remuneration to any employee of the Corporation (whether or not such employee is a member of the Corporation) or the payment of any remuneration or fee to any member of the Corporation for services rendered by him to the Corporation, or the payment of any interest on any loans, or the payment or reimbursement of expenses incurred in and about the management of the affairs of the Corporation whether by a member of the Board of Directors or otherwise. |