Form Cac/it 1 - Incorporated Trustees Application Form (Page 9 of 9) in pdf

Form Cac/it 1 - Incorporated Trustees Application Form Page 9

(1)

THE INCOME AND PROPERTY OF ______________________________________________________

shall be applied solely towards the promotion of the objective of the body as set forth in this RULES

AND REGULATION/CONSTITUTION: and no portion thereof shall be paid or transferred directly or

indirectly, by way of dividend, bonus or otherwise howsoever by way of profit, to the members of the

Association.

(2)

PROVIDED that nothing herein shall prevent the payment in good faith, or reasonable and proper

remuneration to any officer or servant of the Association in return for any service actually rendered to

the Association:

With the exception of ex-officio members of the Governing Council, no member of the Council

of Management or Governing Body shall be appointed to any salaried office of the Association

or any office of the Association paid by fees; and

No remuneration or other benefit in money or money’s worth shall be given by the body to any

member of such Council or Governing Body except repayment of out of pocket expenses or

reasonable and proper rent for premises demised, or let to the Association or reasonable fees

for services rendered.

(3)

If in the event of a winding up or dissolution of the corporate body if there remains 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 Association but shall be given or transferred to some other

institutions, having objects similar to the object of Association, such institutions to be determined by

the members of the Association at or before the time of dissolution.

(4)

If effect cannot be given to the aforesaid provisions, then the remaining property shall be transferred

to some charitable object.

Dated this ___________ day of __________________________ 20______ .

______________________________

____________________________

Signature of Chairman

Signature of Secretary & Date

______________________________

____________________________

Name of Chairman & Tel. No.

Name of Secretary & Tel. No.

Form Cac/it 1 - Incorporated Trustees Application Form Page 9