A Company set up under Section 42 of the Companies Ordinance, 1984
MEMORANDUM OF ASSOCIATION
PAKISTAN LEATHER GARMENTS MANUFACTURERS
& EXPORTERS ASSOCIATION
The name of the Association is “Pakistan Leather Garments Manufacturers & Exporters Association”.
- a) The Registered Office (Head Office) of the Association will be situated in the province of Sindh.
b) The area of operation of the Association shall be whole of Pakistan.
- Aims and Objects
The objects for which the Association is established are the follows:
- To protect, promote and develop Pakistan Leather Garments Industry & Allied Industry.
- To unite and encourage cooperation between firms, companies and individuals engaged in Leather Garments Industry and Allied Industry.
- To encourage friendly and unanimity amongst members of the Association.
- To consider and deal with all questions and matter concerning the manufacture of Leather Garments and Allied Industry, and the trade and commerce in Leather Garments, of its members and advise ways and means to overcome difficulties or problems arising therein;
- To make representations of Federal or Provincial Governments, Local Bodies or any other bodies / departments on the grievances and demands on behalf of the members of the Association;
- To act as representatives, advisors, arbitrators, delegates agents of Leather Garments and Allied Industry in Pakistan, in all matters that may arise from time to time concerning Leather Garments Industry in Pakistan from time to time;
- To settle controversies between the members of the Association;
- To Layout, establish, maintain, manage and control of the affairs of the market in Leather Garments and allied products.
- To arbitrate in the settlement of disputes arising out of commercial transactions between the members willing or agreeing to abide by the judgment and decision of the Association.
- To collect, maintain and distribute or supply such statistics, data and other information necessary for the uplift of the tanning and Leather made-ups Industry through letters, circulars, periodicals and press publicity.
- To establish and promote contacts in foreign countries and develop trade relations with them in order to popularize the Leather Products of Pakistan.
To safeguard and promote the interests of the labor employed by the Leather Garments and Allied Industry.
- To import materials, goods and other requirements of the members and to distribute the same to the members on “no profit no loss basis” and to afford help to any of the members in the procurement of such machinery, materials and requirements as may be necessary for the establishment growth and development of the Leather Garments Industry.
- To issue certificate of origin, measurement and weights in accordance with the requirements of the Leather Garments Trade & Industry.
- To subscribe and become members of the Federation of Pakistan Chambers of Commerce & Industry and to procure from and communicate with any organization, Trade and Industry in Pakistan or abroad such information as may seem conducive to the attainment of the objects of the Association.
- To setup research institute for the development of Leather Garments and Allied Trade & Industry including the sue and production of indigenous materials to make the country, as far as possible, self-sufficient and to set up and Export Promotion Council and take measures for the development of the Leather Garment & Allied Industry and for boosting the Exports.
- To establish and run appropriate organization for inspecting and certifying the quality of Leather Garments & Allied Products intended for export.
- To purchase, take on lease or in exchange, hire or otherwise acquire any building, godown markets and other immovable property or the purpose of the Association, and sell, improve, manage, develop, lease or let, dispose or turn to account or otherwise deal with all or any part of the property of the Association.
- To organize Local or International Fairs and Exhibitions to help the manufactures of Leather Garments and related products and to get between out of it.
- To accept any request, gifts, donations or subscriptions toward or to accumulate and provide funds or an endowment of waqf and to invest the same and apply the income arising there-from or to resort to the capital thereof, for any of the objects of the Association.
- To borrow or raise fund required for the purpose of the Association upon such terms and in such manner and on such securities as may be determined by the Association.
- To give financial assistance or support to any member of the Association on such terms and conditions as may be though proper and to give donations and subscriptions to any charitable, religious, educational and other research and institution or objects of a public character.
- To remunerate, subject to the provisions of clause IV, any person or persons for services rendered in any manner whatsoever to the Association for promotion of the subject thereof.
- Payment of remuneration for services or otherwise to its members, whether holding an office in the company or not, shall be prohibited.
- To set up organization or organizations to render specific service to members to non-members on payment of such fees as may be decided from time to time, provided that the income so derived shall be utilized solely for the purpose of the Association and generally.
- To do all lawful acts, that may be necessary or incidental to the attainment of the above objects or any of them.
bb) The aa) paragraph or this Memorandum is a condition of which is license is granted by the Government to the Association in pursuance of Section (3) of the Trade Organization Ordinance, 1961 (XLV of 1961).
- The income and property of the Association, whensoever derived, shall be applied solely towards the promotion of the objects of the Association, and no portion thereof shall be paid or transferred directly, by way of dividend or bonus or otherwise, howsoever, other then present or past members of the Association or to any of them or to any person claiming through any of them, provided that nothing herein shall prevent the payment, in good faith, of remuneration to any employees or servants of the Association.
- If any members of the Association pays or receives any dividend, bonus, or other profits in contravention of fifth paragraph of the Memorandum of Association, his liability shall be unlimited, except as above the liability of the members shall not be less than a reasonable amount having regard to all the circumstances of the case.
- If, upon the winding up or dissolution of the Association, there remains, after satisfaction of all its debts and liabilities, any property whatsoever, the same shall not be paid or distributed among the members of this Association but shall be given or transferred to such other institution or institution having object similar to the object of the Association or before the time of dissolution and in default thereof by the High Court in Pakistan as may have or acquire jurisdiction in the matter.
- True Accounts shall be kept of the sum of the moneys received and spent by the Association and the matters in respect of which such receipts and expenditures take place and the property, credits and liabilities of the Association one at least in every year. The accounts of the Association shall be examined and correctness of the balance sheet ascertained by one or more Auditors who shall be properly qualified Chartered Accountant.
- The liability of the members is limited.
- Every Members of the Company undertakes to contribute to the assets of the Company in the event of its being wound up while he is a member, or within one year afterwards, for payment of the debts and liabilities of the company contracted before the ceases to be a members, and the costs, charges and expenses of winding up and for the adjustment of the rights of the contributories among themselves, such amount as may be required not exceeding one thousand rupees. Besides the above the Association shall abide by the following conditions namely:
- The Association shall be formed as a public company;
- Payment of remuneration for services or otherwise to its members, whether holding an office in the Association or not, shall be prohibited;
- No change in the Memorandum and Articles of Association shall be made except with the prior approval of the Securities and Exchange Commission of Pakistan.
- The limit of liability of its members shall not be less than a reasonable amount having regard to all the circumstances of the case; and
Patronage of any government or Securities and Exchange Commission of Pakistan, express or implied shall not be claimed unless such government or Securities and Exchange Commission of Pakistan has signified its consent thereto in writing.