9. 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 services rendered to the Corporation; |
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| (b) the payment of interest at a rate not exceeding the prevailing bank rate per annum on money lent, or reasonable and proper rent for premises let, to the Corporation by any member of the Corporation or by any company of which a member of the Corporation is a member holding shares not exceeding one-hundredth part of the capital of the company; |
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| (c) 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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Sri Lanka Consolidated Acts