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Dissolution of Society:
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This Society may be dissolved if two thirds Members present at a meeting convened for the purpose vote for such dissolution and the time when the Society is to be dissolved and the method to be followed for the disposal and settlement of the Society’s property and debts shall also be determined. Confirmation of the dissolution shall be by two thirds of the members.
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Appropriation of Property:
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If upon the dissolution of the Society as aforesaid there shall remain after satisfaction of all its debts any property, the same shall not be paid to all or any of the members of the Society but shall be given to some other Society / Trust / Institution having similar or identical objects as to that of the Society and which was registered under Sec. 12A of the Income Tax Act 1961 and shall not be repugnant to the provisions of the Section 80G of the Income Tax Act and so determined by a majority of votes of the members present at a meeting to resolve the dissolution.
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