s 12 Application of income and property
12. The income and property of the Society from wherever derived must be applied solely towards the promotion of the objects of the Society as set out in this Act and no part thereof may be paid or transferred directly or indirectly by way of dividend, bonus or otherwise by way of profit to the members of the Society:Provided that nothing in this section precludes the payment in good faith of remuneration to any officer or employee of the Society or to any member of the Society in return for services rendered to the Society.
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Source: Singapore Statutes Online (Attorney-General's Chambers), © Government of Singapore.
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