EIBA-YEARBOOK 2024-2025 Web-Complete - Flipbook - Page 108
5
INCOME and PROPERTY
The income and property of the Association however derived shall be applied solely toward the
promotion of the Objects and subject to Clause 7 no portion thereof shall be paid or transferred
directly or indirectly by way of dividend bonus or otherwise howsoever by way of profits to the
Members of the Association provided that nothing herein shall prevent the payment of
remuneration in good faith to any officers or servants of the Association or to any members of
the Association or other persons for any services actually rendered to the Association.
6
LIABILITY
The liability of the members is limited.
7
DISSOLUTION
If at any General Meeting a resolution for the dissolution of the Association is passed by a
majority of the Members present and entitled to vote and if that resolution is confirmed by a
resolution passed by a majority of three quarters of the Members present and entitled to vote
at a Special General Meeting held not less that one month after the meeting, the Board must
immediately or at such future date as specified in the Resolution proceed to realise the
property of the Association, and after the discharge of liabilities must divide the remainder
among the Member Clubs affiliated to the Association as at the date of the Special General
meeting referred to above. Such division shall be pro-rata according to the proportion by which
the number of registered members belonging to each such Member Club as at the date of
dissolution bears to the total number of members registered to all the Member Clubs as at that
date. Upon completion of the division, the Association will be dissolved.
8
WINDING-UP
Every Member of the Association undertakes to contribute to the assets of the Association in
the event of the Association being wound up while they are members or within one year after
they cease to be members for payment of debts and liabilities of the Association contracted
before they cease to be a member and of the costs charges and expenses of winding up and
for the adjustment of the rights of the contributories among themselves such amount as may
be required not to exceed one pound (£1.00).
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