Disposal of surplus assets: bye laws guide use; otherwise Registrar divides assets with prior government sanction. On winding up, the disposal of surplus assets follows the liquidator's report: where bye laws specify a purpose the Central Registrar may utilise the ... Summary
Disposal of surplus assets: bye laws guide use; otherwise Registrar divides assets with prior government sanction.
On winding up, the disposal of surplus assets follows the liquidator's report: where bye laws specify a purpose the Central Registrar may utilise the surplus for that purpose; where bye laws do not, the Central Registrar, with prior sanction of the Central Government, shall divide the surplus among members in the prescribed manner.
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