Sri Lanka Consolidated Acts

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The Church Of The Gospel Ministries In Sri Lanka (Incorporation) Act (No. 17 of 1994) - Sect 9

Corporation, to be a non-profit organization

9.
(1) The Corporation shall be organised and operated as a non-profit organization and no part of the gains, profits or dividends of the Corporation shall be distributed amongst the members of the Corporation.
(2) In the event of the dissolution of the Corporation all the assets remaining after payment of all debts and liabilities thereof shall be disposed of exclusively to and for the benefit of any fund or organization, established or organized exclusively for religious, charitable or educational purposes.

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