Section 75 - Prohibition of payment of dividends by companies limited by guarantee

(1) A company limited by guarantee shall not at any time pay a dividend or make a distribution or return of the assets of the company to members of the company.

(2) Where a payment, distribution or return is made in contravention of subsection (1), a member to whom it is made shall restore same to the company with interest at the yearly interest rate of the ninety-one day government treasury bill, and every officer of the company who is in default is liable to pay to the Registrar, an administrative penalty of five hundred penalty units.