Singapore legislation
Section 6
Section 6
Application of income
The income of the Corporation shall be applied solely towards the promotion of the objects of the Corporation as set forth in this Ordinance, and 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 Corporation:Provided that nothing herein contained shall prevent the payment in good faith of remuneration to any officers or servants of the Corporation or to any member thereof in return for services actually rendered to the Corporation or the payment of interest upon money borrowed from any member of the Corporation, or the payment to the donor of any money or securities or his or her nominee or nominees of any annuity by way of annual interest guaranteed by the Corporation on the amount of such gift during a period not exceeding the life of the donor or such nominee or nominees.