[AUUG-Talk]: Wind up AUUG: Objections?
kevind at esi.com.au
Tue Oct 28 13:00:40 EST 2008
On Tue, 2008-10-28 at 10:44 +1100, Karl Auer wrote:
> The key words here are "by way of dividend". I.e., profits can't be
The income and property of the AUUG however derived shall be
applied solely towards the aims and purposes of the AUUG as set
out in these Rules, and no portion thereof shall be paid or
transferred directly or indirectly by way of dividend to any
member of the AUUG at any time.
I parsed the "by way of dividend" to go with "indirectly" only, as a
dividend would normally be cash (part of its definition) rather than a
direct transferral of an asset. Yes, it may well have been intended to
include both - IANAL, nor do I watch them playing on TV.
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