Sri Lanka Consolidated Acts

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Mahara Social Development Foundation (Incorporation) Act (No. 48 of 2000) - Sect 14

Property remaining on dissolution

14. If upon the dissolution of the Corporation there remains after the satisfaction of all its debts and liabilities any property whatsoever, such property shall not be distributed among the members of the Corporation, but shall be given or transferred to some other institution or institutions having objects similar to those of the Corporation, and which is or are by their rules prohibited from distributing any income or property among its or their members.


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