In case of winding-up or dissolution of the Association in any manner, the members shall only be liable to pay to the Association the arrears, if any, accrued during the subsistence of the Association and /or during subsistence of their membership.

 If, upon the winding up or dissolution of the Association there remains after the satisfaction of all its debts and liabilities, any property whatsoever, the same shall not be paid to or distributed among the members of the Association but if and so far effect can be given to the next provision shall be given or transferred to some other institution or institutions having objects wholly or partly similar to the objects of the Association to be determined by the Dissolution Committee of Law and in default, therefore, by such court as may have jurisdiction in the matter.