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GUARANTEE LIMITED COMPANY
Adil Sethi SP06-BB-0026Qurat-ul-ain Mudassir SP06-BB-0068Furqan Ahmed Chohan SP06-BB-0036Kamil Iqbal SP06-BB-0040Mansoor Hussain SP06-BB-0049
AgendaAgenda Definition UsageUsage FeaturesFeatures Constitution of a Guarantee Limited Constitution of a Guarantee Limited
CompanyCompany Elements Of the ConstitutionElements Of the Constitution Memorandum of AssociationMemorandum of Association Articles of AssociationArticles of Association
Limited BY Guarantee With A Limited BY Guarantee With A Charitable InterestCharitable Interest
MembershipMembership Procedure To Become a MemberProcedure To Become a Member General MeetingGeneral Meeting Votes of MembersVotes of Members Proxy and RepresentationsProxy and Representations DirectorsDirectors Management Association of Pakistan Management Association of Pakistan
(Guarantee) Ltd(Guarantee) Ltd
AgendaAgenda
DEFINITION DEFINITION A company in which members of the company guarantee/undertake to contribute a predetermined sum to the assets of the company which becomes due in the event of the company being wound up
A guarantee company usually does not have a share capital.
It has members who are guarantors instead of shareholders
An alternative type of corporation used primarily for non-profit organizations that require legal personality
USAGE USAGE Schools & Educational Establishments
Clubs & AssociationsCharities and OrganizationsPlaces of WorshipTrade or Research Associations
FEATURES FEATURES A company limited by guarantee
has:a legal identity;the ability to enter into contracts
in the company’s name; the ability to own property in the
company’s name; limited liabilityadditional legal requirements
CONSTITUTION OF CONSTITUTION OF COMPANYCOMPANY
Constitutions of Guarantee Limited Companies have two main parts:
1. Memorandum of Association - the aims and powers
2. Articles of Association - the rules and procedures
Elements Of the Elements Of the ConstitutionConstitution
The constitution has four elements:
Name of Organization Objects, Powers and Area of Benefit
Procedures and rules for running the organization
Dissolution
MEMORANDUM OF MEMORANDUM OF ASSOCIATION ASSOCIATION
(i) the name of company with "(Guarantee) Ltd";
(ii) the province in which the registered office of the company is to be situate;
(iii) the objects of the company; (iv) that the liability of the members is
limited; and (v) that each member undertakes to
contribute to the assets of the company in the event of its being wound up.
ARTICLES OF ARTICLES OF ASSOCIATION ASSOCIATION
The Articles of Association states: When meetings of the company will be held
The voting rights of members, number of trustees and the powers of the trustees
The procedures for appointing and retirement of members and trustees.
Limited BY Guarantee Limited BY Guarantee With A Charitable InterestWith A Charitable Interest
ADVANTAGES It presents an image of probity to other
people and so helps to gain their support
It opens up sources of funds. Generally charities will only give to charities, and other donors prefer to give to charities.
A charity will not be charged corporation tax, while a non-charitable company limited by guarantee may be.
DISADVANTAGESLimitation on trading unless in
pursuit of objectives.
Charities should not campaign politically.
Obtaining charitable status can take some time.
Limited BY Guarantee Limited BY Guarantee With A Charitable InterestWith A Charitable Interest
Limited By Limited By Guarantee - Guarantee -
ClausesClauses INCORPORATING A CLUB
TRANSFER OF MEMBERSHIP
DEATH OF MEMBER
POSTAL BALLOTS
PROPERTY MANAGEMENT
MembershipMembership Attend and vote at annual general
meetings
Receive the annual accounts of the company
To elect directors by voting at the meeting
Procedure To Procedure To Become a MemberBecome a Member
ADMISSION OF THE MEMBERS RETIREMENT OF THE MEMBER
EXPELLING A MEMBER
GENERAL MEETING GENERAL MEETING
The Company must hold a general meeting in each year
The Company must hold a general meeting in each year
The Board may call a general meeting at any time
An AGM and a meeting called for the passing of a special resolution
The notice must specify the place, date and time of the meeting
Notice must be given to the each members of the Company
VOTES OF VOTES OF MEMBERS MEMBERS
Every member of the Company whose name is entered in the Company's register of members has one vote at every general meeting
A member of the Company may appoint a proxy to attend general meetings in his place and to vote on a poll
PROXY AND REPRESENTATIONSPROXY AND REPRESENTATIONS
DIRECTORS DIRECTORS The first Directors of the Company are those named and
submitted to the registrar of companies on incorporation of the Company
No person other than a Director retiring by rotation may be appointed or re-appointed as a Director at any general meeting
The Company may by ordinary resolution appoint as a Director
A technical defect in the appointment of a Director does not invalidate a decision taken at a Board meeting
DIRECTORSDIRECTORS The Board has control over all the affairs and
property of the Company
A Director may call a Board meeting at any time and the Secretary must call a Board meeting
The Chairman of the Board will preside at every Board meeting
The Board may delegate any of its powers to a managing director and to committees consisting of such Directors
RULESRULES
The Directors may establish Rules for any purposes required from time to time for the effective operation of the Company
Company Company Corporate ProfileCorporate Profile
Management Association of Management Association of Pakistan (Guarantee) LtdPakistan (Guarantee) Ltd
History
Vision
Mission
1.Collect and disseminate information on relevant management practices by:
* Holding regular seminars Organizing conferences Sharing in libraries and databases* Pursuing collaboration with similar international bodies
2.Facilitate the development of Management courses in co-operation with existing organizations and educational institutions.
3.Improve standards of corporate excellence by organizing award competitions and mutual sharing of best practices.
OBJECTIVESOBJECTIVES
4.Develop a code of business conduct and ethical standards. Promote awareness thereof and encourage implementation.
5.Influence the general public, trade bodies and the government on relevant macro-social economic matters in the context of the national environment by using press publications, press conferences and seminars etc.
6.Enhance the image and credibility of MAP with its members, corporate sector, government and the general public.
OBJECTIVESOBJECTIVES
PROGRAMMES PROGRAMMES Lectures, seminars, courses of short and
long duration, film conferences, panel discussions etc.
Programmes on current economic situation and economic development, having a direct bearing on prevailing trends and conditions.
Programmes dealing with various sectors of public life.
BOARD OF BOARD OF DIRECTORSDIRECTORS
MEMORANDUM OF MEMORANDUM OF ASSOCIATION ASSOCIATION
The objects for which the Association is established are:
To establish and maintain an association that serves as a forum for interaction for individuals and organizations concerned with and interested in various disciplines of Management.
To lay down standards of knowledge, training and experience of management practices.
To administer countrywide operations under the supervision of Registered office of the Association.
To acquire, collect, preserve, edit information on management practices by establishing
libraries, pamphlets, quotations, reports, journals, conducting training sessions, workshops, and holding seminars.
To act as managerial consultants and advisors to members.
To act as a coordinating body in order to facilitate internships and executive placement for members.
To encourage business to join the association and individuals to qualify for individual and other forms of membership.
To develop management courses of all kinds whether independently or in collaboration.
To exchange information with other bodies, nationally and internationally and collaborate with them.
To formulate standards of conduct for members and encourage appropriate professional attitudes for qualified individual members.
To hold examinations and tests of knowledge and experience of management theory and practice and to award certificates and diplomas.
To borrow or raise money in such a manner as the Association shall think fit.
To receive money on deposit with or without return by way of penalty, fines, subscriptions, entrance fees, rents.
To remunerate any person, firm or company rendering services to the Association.
To create, raise, collect and apply and appropriate funds for the benefit and welfare of members and the employees of the Association
To promote, support or propose legislative or other measures for any activities affecting the objects of the Association or any interests therein.
To enter into arrangements with the Government or government agency which may seem conducive to the objects of the Association.
To take any actions, considered necessary to raise the status, or to promote the efficiency of the Association.
Membership In Membership In MAPMAP
Individual membership
Institutional membership
Membership procedure
Individual Individual membershipmembership
Individual Membership is extended to persons holding a responsible position in an industrial or commercial firm
Entrance Fee Rs 1000
o Annual Subscription Rs 1000 (January-December)
Institutional Institutional MembershipMembership
Any firm, Corporation, Government enterprise, Chamber of Commerce or other like institutions interested in the development of management can become an Institutional Member
Entrance Fee Equal to annual Subscription of relevant
category
ANNUAL SUBSCRIPTION:Category 'A'Rs. 8,750.00
Institutional Institutional Membership Membership
(Cont)(Cont)Category 'B'Rs. 12,500.00 (January-December)
Category 'C'Rs. 25,000.00
Annual subscription for the ensuing year is payable in advance. Membership applications received during July-December will charged half the annual subscription for that year.
MEMBERSHIP MEMBERSHIP PROCEDUREPROCEDURE: :
All applications for membership must be recommended by two individual members
A consolidated crossed cheque/bank draft for the relevant fees (Entrance Fee + Annual Subscription) drawn in favor of Management Association of Pakistan must be sent along with the application.
MEMBERSHIP PROCEDUREMEMBERSHIP PROCEDURE (Cont)(Cont)
Acceptance of membership is subject to approval of the Executive Committee of the Association which will be communicated to the applicant at the earliest
THANKYOU!!!THANKYOU!!!
Any Questions???Any Questions???
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