45Distribution of property on winding up

#### 45 Distribution of property on winding up 45 Distribution of property on winding up > > (1) Subject to the Act and the Regulation, in a winding up of the association, the surplus property of the association must be transferred to another organisation— > > > > > (a) with similar objects, and > > > > > (b) which is not carried on for the profit or gain of the organisation’s members. > > > (2) In this clause— > > > > surplus property has the same meaning as in the Act, section 65.