Winding Up

  1. 17.1 Board Members in a general meeting may, by special resolution agree to wind up Nican.
  2. 17.2 If upon the winding up of Nican there remains, after satisfaction of all its debts and liabilities any property whatsoever, the same shall not be paid to or distributed among the members of Nican;
  3. 17.3 Property remaining after the satisfaction of all debts and liabilities shall be distributed to organisation/s holding similar objectives accredited with Benevolent Status, such as determined by special resolution of the Board, or in default thereof by a Court of the Australian Capital Territory.