7. Section 16 of the principal enactment, as amended by Act No. 15 of 1966, is hereby further amended, by the substitution, for subsection (4) of that section, of the following new subsection: -
| (4) For the removal of doubts, it is hereby declared that the powers conferred on the corporation by this section to make rules at any general meeting of the members thereof for the management of the affairs of the corporation and the accomplishment of its objects include, and shall from the commencement of this Ordinance be deemed to have included, the power to make rules containing provision to the effect that, upon the death of any such member, the benefits accruing to his spouse and legitimate children may be paid only to such of them as he may nominate, or be apportioned among all or any of them in such shares as he may specify.". |
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Sri Lanka Consolidated Acts