Sri Lanka Consolidated Acts

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Ceylon Hotel School Graduates Association (Incorporation) Act (No. 21 of 1984) - Sect 8

Application of income and property of the Corporation

8. The income and property of the Corporation shall be applied solely towards the promotion of the objects of the Corporation and no 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: Provided, however, that the provisions of this section shall not prevent -
(a) the payment in good faith of reasonable and proper remuneration to any officer or employee of the Corporation or to any member of the Corporation for any service rendered to the Corporation ;
(b) the repayment of expenses incurred by any member, officer or employee of the Corporation in the performance of his functions or duties or in promoting the objects of the Corporation.

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