Ferntree Gully And District Ladies’ Wednesday Tennis Association Inc.. Friendly competition tennis. Midweek Competition Tennis. Wednesday & Thursdays Womens Doubles. Enjoy a hit, join one of our clubs.
30. In the event of winding up or cancellation of the Incorporation of the Association all assets are to be realized forthwith. All creditors shall be paid and the net funds to be paid to the William Angliss Knox-
SOURCES OF FUNDS
31. (1) The funds of the Association shall be derived from affiliation fees, team entry fees, donations, and such other sources as the Committee determines.
(2) The income and property of the Association whencesoever derived, shall be applied solely towards the promotion of the objects of the Association, and no portion thereof shall be paid or transferred directly or indirectly, by way of dividends, bonus or otherwise howsoever by way of profit or gain to the individual members of the Association. Provided that nothing herein shall prevent the payment, in good faith, of reasonable and proper remuneration to any officer or servant or to any member of the Association in return for any services actually rendered to the Association or prevent the payment for out of pocket expenses, interest on money lent or reasonable and proper rent for premises demised or let by an officer or servant of the Association or member of the Association.