19. Charitable companies
Feedback & supportWhere a charity may be wound up by the High Court under the Companies Act [Cap. 50], a petition for it to be wound up under that Act by the High Court may be presented by the Attorney-General, as well as by any person authorised by that Act.
charity
“charity” means any institution, corporate or not, which is established for charitable purposes and is subject to the control of the High Court in exercise of the Court’s jurisdiction with respect to charities;
Where a charity is a company or other body corporate, and has power to alter the instruments establishing or regulating it as a body corporate, no exercise of that power which has the effect of the body corporate ceasing to be a charity shall be valid so as to affect the application of any property acquired under any disposition or agreement previously made otherwise than for full consideration in money or money’s worth, or of any property representing property so acquired, or of any property representing income which has accrued before the alteration is made, or of the income from any such property as aforesaid.