Victorian Current Acts Victorian Current ActsIf at any time the club is dissolved and upon its dissolution there remains after satisfaction of all its debts and liabilities any property whatsoever, that property shall not be paid or distributed amongst the members of the club but shall be given or transferred with the sanction of the Governor in Council—
(a) to some racing club or other club having similar objects carrying on in Victoria to be determined by members of the club at or before the time of dissolution; or
(b) if the members so determine, to some charitable institution or institutions carrying on in Victoria—
the constitution or rules of which club or institution or of each of which institutions prohibit the distribution of its income and property amongst its members.