Hi Chris, On Mon, September 2, 2013 2:42 pm, Chris Samuel wrote: > > I note that if we do vote to wind up LUV then "the property of the > association vests in the Registrar" (according to the current 2012 act) > and it looks like they appoint who disposes of them.
That's not the case, refer to s.132 of the Act. In the even of winding surplus assets are distributed according to the rules or a special resolution. You're referring to s.140.2 which is *after* cancellation. Cancellation happens *after* winding up, or by court order (i.e., the association has been very naughty indeed). An organisation which winds up distributes its surplus assets according to section 132 and then has its incorporation cancelled. If there's any assets after that (e.g., somebody discovers a suitcase of gold that belonged to the former organisation that wasn't distributed) that goes to the Registrar, according to s.140 All the best, -- Lev Lafayette, BA (Hons), GCertPM, MBA mobile: 0432 255 208 RFC 1855 Netiquette Guidelines http://www.ietf.org/rfc/rfc1855.txt _______________________________________________ luv-main mailing list [email protected] http://lists.luv.asn.au/listinfo/luv-main
