7. LIQUIDATION  

1. In the event of liquidation of the Federation, if there is deficit, the liability of the members shall be  limited to the amount of subscription/contribution payable by them on the date of liquidation.
   
   

2. If there is any surplus, the same shall either be distributed amongst the members of the Federation in the proportion of the annual subscription/contribution payable by members at the time of liquidation or be transferred to a new body of the members as may be mutually agreed upon at the time of liquidation.