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Section 14 - Upon a dissolution no member to receive profit : Societies Registration Act 1860

 

 

Upon a dissolution no member to receive profit is defined under Section 14 of Societies Registration Act 1860

Section 14 of Societies Registration Act 1860: "Upon a dissolution no member to receive profit"

If upon the dissolution of any society registered under this Act there shall remain, after the satisfaction of all its debts and liabilities, any property whatsoever, the same shall not be paid to or distributed among the members of the said society or any of them, but shall be given to some other society, to be determined by the votes of not less than three-fifths of the members present personally or by proxy at the time of the dissolution, or, in default thereof, by such Court as aforesaid:

Clause not to apply to Joint-stock Companies. Provided, however, that this clause shall not apply to any society which shall have been founded or established by the contributions of shareholders in the nature of a Joint-stock Company.

 

 

 

SOCIETIES REGISTRATION ACT 1860

Section 1 - Societies formed by memorandum of association and registration

Section 2 - Memorandum of association

Section 3 - Registration and fees

Section 4 - Annual list of managing body to be filed

Section 5 - Property of society how vested

 

 

Section 6 - Suits by and against societies

Section 7 - Suits not to abate

Section 8 - Enforcement of judgment against society

Section 9 - Recovery of penalty accruing under bye-law

Section 10 - Members liable to be sued as strangers

 

 

Section 11 - Members guilty of offences punishable as strangers

Section 12 - Societies enabled to alter, extend, or abridge their purposes

Section 13 - Provision for dissolution of societies and adjustment of their affairs

Section 14 - Upon a dissolution no member to receive profit

Section 15 - Member defined

 

 

Section 16 - Governing body defined

Section 17 - Registration of societies formed before Act

Section 18 - Such societies to file memorandum, etc., with Registrar of Joint-stock Companies

Section 19 - Inspection of documents

Section 20 - To what Societies Act applies

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