Logo

Seniors helping seniors use computers and the internet

 

Clause 31 - Distribution of Surplus Assets to Another Entity

Back to index

  1. This section applies if the association is wound-up under part 7 of the Act and there are surplus assets.
  2. The surplus assets must not be distributed among the members but must be given to another entity:
    1. That has objects similar to the association's objects; and
    2. The rules of which prohibit the distribution of the entity's income and assets to its members.
  3. In this section:
    "surplus assets" has the meaning given by section 47(3)of the Act.

Website supported by Ipswich Web Hosting  (Ingenuity Hosting Pty Ltd)
Copyright © Ken Curwen 2012, 2013, 2014, 2015, 2016, 2017