(b) Any payment to a board member must be approved by the APF Board.
6. Liability of Members
The liability of the members is limited.
7. Guarantee by Members
(a)
Every member undertakes to contribute an amount not more than $100 to the
property of the Forum if it is wound up while it is a member or within one year after
it ceases to be a member, for:
(1) payment of the Forum’s debts and liabilities contracted before the time it
ceased to be a member;
(2) the costs, charges and expenses of winding up; and
(3) the adjustment of the rights of the contributories among themselves.
(b)
There is no obligation of other members to contribute to the property of the Forum if
it is wound up.
8. Winding up
(a)
If, on the winding up or dissolution of the Forum, any property remains after
satisfaction of all its debts and liabilities, this property must only be given or
transferred to a fund, authority or institution:
(1) which is charitable at law; and
(2) whose constitution prohibits distributions or payments to its members and
directors (if any) to an extent at least as great as is outlined in rule 5.
(b)
The identity of the fund, authority or institution referred to in rule 8.1(a) must be
decided by the members by resolution at or before the time of winding up or
dissolution of the Forum and, if the members cannot decide, by the Supreme Court
of the State.
9. Revocation of endorsement by Commissioner of
Taxation
(a) Where the Forum has been endorsed as a deductible gift recipient as an
organisation or in relation to a public fund under Subdivision 30 BA of the ITAA 97,
then where:
(1)
(2)
(3)
the Forum is wound up;
the fund is wound up; or
the endorsement under Subdivision 30 BA of the ITAA 97 is revoked;
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