11Corporation

11 Corporation

[Section 11 Amended by No. 41 of 2017, s. 10, Applied:01 Dec 2017] A Member is not required to disclose any interest or position held by the Member or a spouse of the Member in a corporation if the corporation–

(a) is formed–

(i) to provide recreation or amusement; or

(ii) to promote commerce, industry, art, science, religion or charity; or

(iii) for any other community purpose; and

(b) is required to apply any of its profits or other income in promoting its objects; and

(c) is prohibited from paying any dividend to its members.