Property

PROVIDED THAT:

(I). In case the Register takes or holds any property which may be subject to any trusts, the Register will only deal with or invest the same in such manner as allowed by law having regard to such trusts.

(ii). The Register will not support with its funds any object or endeavour to impose on or procure to be observed by its members or others any regulation restriction or condition which if it was an object of the Register would make it a Trade Union.

3. All of the income and the property of the Register will be applied solely towards the promotion of the objects of the Register as set out in these Rules of the Register and no portion will be paid or transferred directly or indirectly by way of dividend bonus or otherwise by way of profit to the members of the Register.

Provided that nothing contained herein prevents the payment in good faith by way of salary or otherwise of reasonable and proper remuneration for services rendered by any member of the Register, but not a member of the Council, given by them on the Registers behalf including the payment of fees for lectures and courses; or prevents reasonable and proper remuneration to any officer or servant of the Register or to any member of the Register in return for any services actually rendered to the Register; or prevent the payment of interest at a rate not exceeding eight per cent per annum on money lent; or prevents payment of reasonable and proper rent for premises demised or let by any member of the Register.

But no member of the Council of the Register will be appointed to any salaried office of the Register or any office of the Register paid by fees, and no remuneration or other benefit in money or moneys worth will be given by the Register to any members of such Council except repayment of out-of-pocket expenses and interest at the rate aforesaid on money lent or reasonable and proper rent for premises demised or let to the Register provided nevertheless that nothing contained herein will preclude:

(i) the payment of fees to those members of the Council of the Register who may from time to time give a special lecture or lectures.

(ii) the payment of fees to any member of the Council who has been engaged by the Council in his professional capacity.

(iii) provided also that no such member will be entitled to vote upon any resolution providing for or relating to his salary or fees.

4. If after the winding up or dissolution of the Register any property whatsoever remains after the satisfaction of all debts and liabilites the same will not be paid to or distributed among the members of the Register: instead subject to any trusts affecting the same or any part of it, it will be given or transferred to some other institution having objects altogether or in part similar to the objects of the Register which also prohibits the distribution of its or their income and property amongst its or their members to an extent at least as great as is imposed on the Register by virtue of these Clauses: such institutions to be determined by the members of the Register at or before the time of dissolution, and if effect cannot be given to the this provision then to some charitable cause.