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MEMORANDUM
OF ASSOCIATION
The
memorandum of association is a document depicting and describing
the objective of its existence and its operation. It defines the
permitted range of enterprise. Care must be taken to draft this
document so meticulously as to confer all powers on the society,
which will be reasonably required for total attainment of the objects.
FORMAT
OF MEMORANDUM OF ASSOCIATION
The
Memorandum of Association as per the principle Act and Acts passed
by various State Governments should contain:
GUIDELINES
FOR DRAFTING MEMORANDUM OF ASSOCIATION
Name
Of Society
-
Words
‘cooperative’, ‘land development’, ‘reserve bank’, ‘union’,
‘state’, or any other word expressing or implying the sanction
approval or patronage of the central or any state government
and ‘Municipal’ or ‘Chartered’ or any word which suggests or
be calculated to suggest connections with any municipality or
other legal authority may not be used without the previous sanction
in writing of such authority.
Registered
Office of the Society
Even
though the principle Act does not require the mentioned of the address
of the registered office in the Memorandum of Association of the
society, it is always better to mention the address of the registered
office in the memorandum so that communication or notices may be
sent to the society at such address.
Objectives
of the Society
The
society once formed has to act within the framework of the object
clause. Any action of the society outside the framework of the object
clause may be declared as beyond the permitted scope of the society
besides being null and void. Therefore, it is advisable to
draft the object clause with full caution and care keeping in view
the present and future requirements of the society.
Names
& Address Of Governors, Councils, Directors of Committee
Principle
Act and the State Act require that the Memorandum should contain
the names, addresses and occupation of the above captioned.
Whether
a member is called a governor or director or president, it does
not affect his status.
These
office bearers have distinct existence from individual members.
The administration and management of the society is interested to
them jointly.
Rules
& Regulations of the Society
The
rules and regulations of the society are framed to guide the members
of the governing body or the persons interested with the management
of the society to regulate the functions of the society and for
its internal management. The rules help the management in carrying
out the objects of the society. They are binding on the members
of the society. The rules, which are inconsistent with the provisions
of the Act, are inoperative although registered with the Registrar
of Societies.
Signature
on Rules & Regulations
The
rules should be signed by atleast three members of the governing
body.
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