Upon dissolution, no member to receive profit

Upon dissolution, no member to receive profit.—(1) If upon the dissolution of any society there shall remain any property, whatsoever, after the satisfaction of all its debts and liabilities, on the basis of mutual agreement or conditions or for utilizing for the purpose of section 3, the same be given to the Government and shall be decided upon the majority of members by their votes cast in person or where proxies are allowed, by proxy at the time of dissolution.

1. (2) Any society registered under this Act, there shall remain any property after the satisfaction of all its debts and liabilities, the same shall not be paid to, or distributed among the members of the said society or any of them, and shall be given to some other society which for objects, furtherance of aims similar as far as may be to the object of the dissolved society to be determined by the voters not less than three-fourths majority of the members present, personally or where proxies are allowed, by proxy at the time of dissolution or in default thereof, by the decision of the Civil Court of original jurisdiction.