The income and property of the Association shall be applied solely towards the promotion of the aims and objects of the Association, as set forth in the Memorandum of Association and no portion thereof shall be paid or transferred directly or indirectly, by way of dividend, bonus or otherwise by way of profit to the members of the Association or any person or persons claiming any such benefit on their behalf.

Provided always that nothing herein shall prevent the payment in good faith or remuneration to any officer or servant of the Association or to any other person in return for any service actually rendered to the Association.

Provided further that no member of the Trade or of the Association shall be appointed to any salaried office of the Association or any office of the Association with paid fees and that no remuneration shall be given to any member except repayment for out of pocket expenses and interest on money lent or rent for premises demised to the Association.