(2) Subject to subsection (3), the distribution of surplus property of an
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 property or a part of the property, and
(c) must be approved by
the Secretary unless the property is distributed in accordance with a
direction of the Secretary.
(3) Surplus property that is property 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 body nominated by the department or authority.
(4)
A person aggrieved by the operation of this section in relation to an
association's surplus property may apply to the Supreme Court for an order as
to its 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
surplus property.
(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.
"surplus property" means the property of an association remaining after
satisfaction of the debts and liabilities of the association and the costs,
charges and expenses of the winding up of the association.
