Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsProperty remaining of resolution
| 11. If upon the dissolution of the Corporation there remains, after the satisfaction of all debts and liabilities, any property, that property shall not be distributed among the members of the Corporation but shall, be given or transferred to some other association or associations having objects similar to the objects of the Corporation and which is, or are, by the rules thereof prohibited from distributing any income or property among its or their members. Such association or associations shall be determined by the members of the Corporation at or immediately before the time of the dissolution, of the Corporation or in default thereof by a court within the local limits of whose jurisdiction the whole or any part of that property is held or situate. If that property or any part thereof cannot be disposed of in accordance with, the preceding provisions of this section that property or part thereof shall be applied to some charitable purpose. |