Section 35

It shall be lawful for the Board with the sanction of a Special General Meeting of the members of the Corporation called for the purpose to wind up the affairs of the Corporation in such manner as shall be directed by such Special General Meeting, or, in default of such direction, as the Board shall think expedient, having due regard to the liabilities of the Corporation for the time being; and on the winding up of the Corporation the investments specified in Schedule A and any property whatsoever which may remain, after satisfaction of all its debts and liabilities, shall not be paid or distributed amongst the members of the Corporation or any of them, but shall be given and transferred to some missionary association, society or institution of the Church of England within the Diocese of Singapore having objects similar or in part similar to the objects of the Corporation, such association, society or institution to be determined by a majority of three-fourths of the Board of Management, with the approval of the Society for the Propagation of the Gospel, and in default thereof by a Judge of the High Court.