Catchwords:
CORPORATIONS – not for profit – distribution of surplus on winding up – aged care home – sanction – loss of accreditation – buyer sought – representation will pay surplus to buyer – buyer increases bid – funds needed to improve facility – directions to liquidator, principles at [10]-[14] – requirements of constitution – recipient must prohibit directors’ fees – directors’ fees, principles at [41]-[49] – one interested recipient does not meet criteria – approach to distributing surplus of charity at [61]-[64].
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