Victorian Consolidated Legislation

Melbourne Racing Club Act 1956 - SECT 9

Application of property upon dissolution

9. Application of property upon dissolution

If at any time the club is dissolved and upon its dissolution there remains
after satisfaction of all its debts and liabilities any property whatsoever,
that property shall not be paid or distributed amongst the members of the club
but shall be given or transferred with the sanction of the Governor in
Council-

   (a)  to some racing club or other club having similar objects carrying on
        in Victoria to be determined by members of the club at or before the
        time of dissolution; or





   (b)  if the members so determine, to some charitable institution or
        institutions carrying on in Victoria-

the constitution or rules of which club or institution or of each of which
institutions prohibit the distribution of its income and property amongst its
members.