Contents (2009 - 7)
Associations Incorporation Act 2009 No 7
77 Distribution of assets
(1) On the cancellation of an association’s registration under this Division, the association’s property vests in the Secretary.(2) The Secretary:(a) may give such directions as the Secretary considers just for or with respect to the payment of the association’s debts and liabilities, the distribution of its property and the winding up of its affairs, and(b) may appoint a person for the purpose of investigating the affairs of the association with a view to the realisation of its property, payment of its debts, discharge of its liabilities, distribution of its property and winding up of its affairs, and(c) may do all such other acts and things as are reasonably necessary to be done for the purpose of the exercise of the Secretary’s powers under this section.(3) The Secretary is entitled to be paid out of an association’s property any costs reasonably incurred in the exercise of the Secretary’s powers under this section in relation to the association.(4) Section 65 applies to and in respect of the distribution of any property remaining after satisfaction of the association’s debts and liabilities under subsection (2) and the payment of the Secretary’s costs under subsection (3) in the same way as it applies to and in respect of the distribution of surplus property under that section.