TNAG-2004-FCO40-2852-Hong-Kong-political-parties-1990 — Page 162

4.

Provided that:-

(i)

(ii)

(iii)

the Association is strictly prohibited from engaging in any trading or business activities for the purpose of making profits or gains;

the objects of the Association shall not extend to the regulation of relations between workers and employers and organizations of workers and organizations Of employers;

in case the Association shall take or hold any property which may be subject to any trusts, the Association will only deal with or invest the same in such manner as allowed by law, having regard to such trusts;

(iv)

the powers set forth in the Seventh Schedule of Companies Ordinance (Cap. 32) are hereby excluded.

the

The income and property of the Association, whencesoever derived, shall be applied solely towards the promotion of the objects of the Association as set forth in this Memorandum of Association, and no portion thereof shall be paid or transferred directly or indirectly, by way of dividend, bonus, profits or otherwise howsoever, to the members of the Association.

Provided that nothing herein shall prevent the payment, in good faith, of reasonable and proper remuneration to any officer or servant of the Association, or to any member of the Association, in return for any service actually rendered to the Association, nor prevent the payment of reasonable and proper rent for premises demised or let by any member to the Association; but SO that до member of the Central Committee of the Association shall be appointed to any salaried office of the Association,

or any office of the Association paid by fees, and that no remuneration or other benefit in money or money's worth shall be given by the Association to any member of the Central Committee of the Association except repayment of out-of-pocket expenses and reasonable and proper rent for premises demised or let to the Association.

5.

The liability of the members is limited.

6.

7.

contribute to the

a

Every member of the Association undertakes to assets of the Association, in the event of the same being wound up while he is a member or within one year after he ceases to be member, for payment of the debts or liabilities of the Association contracted before he ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributories amongst themselves, such amounts as may be required, not exceeding HK$10.00.

If upon the winding up of the Association there remains, after satisfaction of all debts and liabilities, any property whatsoever, the same shall not be paid to or distributed amongst the members of the Association, but shall be given or transferred to some other institutions having objects similar to the objects of the Association or in the absence of such institution, to such other institution or institutions having charitable objects for the benefits of the people in Hong Kong and which shall prohibit the distribution of its or their income and property amongst its or

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