Singapore legislation
Clause 5
Clause 5
Amendment of section 20
Subsection (1) of section 20 of the Societies Ordinance is hereby amended by deleting paragraphs (b), (c), (d) and (e) thereof and substituting therefor the following: —“(b)the Official Assignee in Bankruptcy or such other officer shall proceed to wind up the affairs of the society and after satisfying and providing for all debts and liabilities of the society and the costs of winding up shall pay the surplus assets, if any, of the society —
(i)
where the Minister so directs into the Consolidated Fund; or
(ii)
in the absence of a direction from the Minister, to the members of the society according to the rules of the society.”.