Sri Lanka Consolidated Acts

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Yoshida Educational And Social Services Foundation, Sri Lanka (Incorporation) Act (No. 54 of 1993) - Sect 13

Property remaining on dissolution

13. If upon the dissolution of the Corporation there remains, after the satisfaction of all 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 association or institution having objects similar to the objects of the Corporation and which is by the rules thereof, prohibited from distributing any income or property among its members Such association or institution shall be determined by the Board of Management at or immediately before the dissolution of the Corporation.


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