75Distribution of assets

#### 75 Distribution of assets 75 Distribution of assets > > (1) On the cancellation of an association’s registration under this Division, the association’s assets must be distributed in accordance with a special resolution passed by the association. > > > (2) Subject to subsection (3), the distribution of the assets of the association— > > > > > (a) must not be made to, or for the benefit of— > > > > > > > (i) a member or former member of the association, or > > > > > > > (ii) a person to be held on trust for a member or former member of the association, and > > > > > (b) is subject to any trust affecting the assets or part of the assets, and > > > > > (c) must be approved by the Secretary. > > > (3) An asset that has been supplied by a government department or public authority, including an unexpended portion of a grant, if any, must be returned— > > > > > (a) to the department or authority that supplied it, or > > > > > (b) to a person or body nominated by the department or authority. > > > (4) A person aggrieved by the operation of this section in relation to an association’s assets may apply to the Supreme Court for an order as to their disposal. > > > (5) The Supreme Court may deal with an application by making the orders it thinks fit in relation to the disposal of the association’s assets. > > > (6) In this section— > > > > member or former member does not include a member or former member who is— > > > > > (a) an entity or organisation, whether incorporated or unincorporated, and > > > > > (b) at the time of the distribution, prohibited from distributing property to its members. > > **s 75:** Subst 2021 No 23, Sch 1.1\[8\].