9.
| (1) In the liquidation of any dissolved society, the funds, including the reserve fund, shall be applied first to the costs of liquidation, then to the discharge of the liabilities of the society, and then to the payment of the share capital. |
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| (2) When the liquidation of a society has been closed and any creditor of that society has not claimed or received what is due to him under the scheme of distribution, notice of the closing of the liquidation shall be published in the Gazette; and, in respect of any claim against the funds of such society, no action shall be maintainable unless it is commenced within three months from the date of the publication of such notice in the Gazette. |
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| (3) Any surplus remaining after the application of the funds to the purposes specified in sub-section (1) and the payment of any claims under sub-section (2), may be divided among registered societies according to any scheme prepared by the liquidator and approved by the Registrar. |
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Sri Lanka Consolidated Acts