Disposal of assets.

(1) Where any surplus assets are left after the settlement of its claims and liabilities, such assets shall not be paid to or distributed amongst the members of the Society but shall be taken over and vest in the custody of Government: Provided that in case a Society is registered for the purposes of the Haryana Apartment Ownership Act, 1983 (Act 10 of 1983), a housing Society or a resident welfare association registered as a Society for the operation, management and maintenance of facilities for the residents or civic amenities of any defined area, the successor-in-interest shall step in the shoes of original member subject to fulfillment of qualifications as laid down in the Bye-laws of the Society and the provisions of the Act. (2) The Government shall place such assets at the disposal of the District Collector, who may,- (i) in the first instance identify any other Society in operation with identical aims and objects and transfer such assets to such Society; or (ii) use such assets, preferably for the purpose for which such assets were created, or for any other public purpose, as deemed appropriate.