Memorandum of Association

I.
The name of the Association is S.I.T.E. SUPERHIGHWAY ASSOCIATION OF INDUSTRY-KARACHI.
II.
The Permanent Registered Office of the Association is: Plot No. H-2, SITE Superhighway Phase-I, Gaddap Town, Scheme-33, Karachi.
III. The objects for which the Association is established are;
    1.
To take over the rights, assets, liabilities, secretariat and establishments of the Trading Estate Industrialists Association.
    2. To promote, foster, encourage, protect and advance.
        a)
The interest of members engaged in trade, commerce, industries and manufacturers, through the Chamber of Commerce & Industry, Karachi.
        b) Good relations and unanimity among such Members.
           
    3.
To take up, consider, discuss and make known the view of the Association on question and matters connected with or affecting the interest of such members.
    4.
To promote or oppose legislative or other measures affecting interests of such members and to make representations to Local, Provincial, Central, Federal and other authorities on matters concerned with such interest through the Federation of Pakistan Chamber of Commerce & Industry, Karachi.
    5.
To secure, wherever possible, organized and / or concerned action on all subjects involving the interest of members.
    6.
To faster and promote good relations between the ‘Sindh Industrial Trading Estate’ (S.I.T.E.) Ltd., Karachi and the association.
    7.
To safeguard and protect the interests of the members and to secure to them from the authorities concerned all amenities particularly in relation to:
        a) Regular and adequate supply of water, electricity and gas.
        b)
Proper and adequate arrangements for transport of the employees and labors having their place of work on Superhighway S.I.T.E. area and in particular phase employed by the member of the Association.
        c) Proper and adequate means of sanitation, drains, sewers and disposal of effluvia.
        d) Proper and adequate measures for safety and security and policing of S.I.T.E.
        e) Establishment of posts telegraphs and telephone services sufficient for the needs of the members of Association.
           
    8.
To provide an exchange or mart, with library and reading rooms and other accommodation for the comfort of the members and their employees.
    9.
To establish shops, refreshment rooms and canteens for the sale of bread, biscuits and other farinaceous goods and products, tea, coffee, milk. Aerated mineral waters, tobacco, cigars, cigarettes, confectionary and any other provisions and victuals and drinks and to carry on the business of bakers, tea merchants, restaurants and canteen keeper and proprietors.
    10.
To establish, manage and conduct grain shops and to provide such other or cloth shop amenities for the welfare of the employees and labors of the members of the association whether necessary or not under any law for the time being in force.
    11.
To subscribe to, become a member of the Chamber of Commerce and industry, Karachi, and co-operate with any other trade organization, whose objects are altogether or an part similar to those of this Association and to co-operate with and to procure from and communicate to any such organization such information as may be likely to promote the objects of the Association.
    12.
To establish, maintain, control, manage and regulate, of and when it is deemed fit and proper separate departments each devoted solely to a particular trade, commerce or industry and for each such particular trade, commerce or industry to establish, maintain, control, manage and regulate exchanges and clearing house or houses, to provide forms of contracts compulsory or permissive, to be used by the members to establishing just and equitable principles in the various dealings on such trade, commerce or industry, to fix or adopt standard for classification or analysis of commodities dealt with, and to frame from time to time, such rules and bye-laws as may be deemed fit and proper for all or any of the aforesaid matters.
    13.
To license brokers, macadam’s, weigh men and samplers upon such terms and conditions as the Association may from time to time prescribe, and to provide for sampling and weighing of commodities and for carrying on all or any of the functions usually associated with such weighing or sampling upon such terms and conditions as to fees payable by Members to otherwise as may from time to time be determined by the Association.
    14.
To arbitrator in the settlement of disputes arising out of commercial transaction between parties willing to abide by the judgment and decision of the Association.
    15. To adjust controversies between members of the Association.
    16.
From time to time borrowers raise money which may be required for the purpose of the association upon bonds debentures, bills of exchange, promissory notes of other obligations or by mortgage or charge of the Association’s property.
    17.
To purchase, taken on lease or otherwise acquire any moveable or immovable property or any right and privileges necessary or convenient for the purpose of the association.
    18.
To construct, or alter or keep in repair any buildings required or used by or for the Association and to pull down or demolish any building not so required.
    19.
To invest money of the Association not immediately required in such securities as may, from time to time, be determined by the Committee, including any debentures issued by the Association.
    20.
To solicit, obtain or accept subscriptions, donations grants, gifts, devices, bequests, and trusts from any person, firm, corporation, organization or institution.
    21.
To remunerate any person or company for service rendered or to by rendered in placing or assisting to place or guaranteeing placing of any debentures or other securities of the Association.
    22.
To establish and support, or aid in the establishment and support of organization, institutions funds, trusts and convenience calculated to benefit employees of the Association are the dependents and grants pensions and allowances, and to make payments towards assurance and to or guarantee money for charitable or benevolent objects, are for any exhibition of for any public or useful object.
    23.
To enter into any arrangement with any Government or other authority, supreme municipal , local or other wise, including Estate authorities, that may seem conducive to the association’s objects or and of them, and to obtain from any such Government or other authority all rights. Concession and privileges which the Association may think it desirable to obtained to carry out exercise and comply with any such arrangement, rights privileges and concessions.
    24.
To sell, improve, manage develop, exchange, lease or let, under-lease, sublet, mortgage, dispose of, turn for account or otherwise deal with all or any part of the property of the Association.
    25.
To take or otherwise acquire and hold shares in any other organization or company having objects altogether or in part similar to those of this Association.
    26.
To undertake or execute any trusts the undertaking of which may seem to the Association desirable either graciously or otherwise.
    27.
To draw, make, accept, discount, execute and issue bills of exchange, promissory notes, bills of lading warrants, debentures and other negotiable or transferable instruments or securities.
    28.
To pay out of the funds of the Association the costs charges and expenses preliminary and incidental to the formation, establishment and registration of the Association, and all expenses which the Association may lawfully pay, having regard to the provisions of the Cos. Ord. 84/2007 or of incidental to the raising of the money for the Association, including brokerage and commissions for c ‘is for or taking placing or underwriting Debentures stock or Debentures Stock.
    29.
To give at any time to any person firm or company the right to apply for or guarantee the subscription of any debentures, Debentures Stock or other securities of the association at any price or consideration to be agreed upon by the Committee for the time being of the association and to annex any conditions or stipulations to such right of applications as the said committee may think proper.
    30. And generally do all other acts incidental or conducive to the attainment of the above objects or any of them.
        i.
The income and property of the Association whosoever derived shall be applied solely towards the objects of the Association, and no portion there of shall be paid or transferred directly by way of dividend or bonus or otherwise howsoever by way of profit to the present or past members of the Association or to any of them or to any person claiming though of them. Provided that nothing herein shall prevent the payment in good faith of the remunerations to any officers or servants of the Association or to any member thereof in return for services actually rendered to the Association.
        ii.
The fourth paragraph of this memorandum is a consideration on such license is granted to association pursuance of Section 3 of the Trade Organization Ordinance, 2007 (XXXI of 2007)
        iii. The ability of members is limited.
        iv.
Every member of the Association undertakes or guarantees to contribute to the assets of Association on the event of the same being wound up during the time that he is a member or within one year afterwards, for payment of the debts and liabilities of the afterwards contracted before the time at which he ceases to be an member and of the costs, charges and expenses of winding up the same and for the adjustment of the right of contributors amongst themselves, such amount as may be required not exceeding Rs.100/- in pursuance of the last preceding paragraph of the memorandum.
        viii.
If upon the widening up or dissolution of the Association there remains, after the satisfaction of all debts and liabilities, any property whatsoever, the same shall not be given or paid to or other trade organization or institutions to the objects the time dissolutions and in default thereof. Judicature at Karachi as may have of acquire jurisdiction on the matter and if an so far as effect can not be given to the aforesaid provision then to some charitable object.
        ix.
Amendments of the Memorandum of Association shall be subject to the approval of the government and shall also be made when required by the Government in public interest.
           
We, the several persons whose names and addressed are subscribed hereto are desirous of being formed into an association in pursuance of this Memorandum of Association:
       
     
S.No. Names CNIC No. Address Signature
1. Mr. Mehtab Uddin Chawla      
2. Mr. M. Yousuf      
3. Mr. Aslam Rayaz      
4. Mr. Jamshed Ahmed Chandiwala      
5. Mr. Ilyas Raja      
6. Mr. Sohail Ahmed Zakai      
7. Mr. Shaheen Shah Alam      
8. Mr. Saleem Rauf Khan      
9. Mr. Faisal Mon Qureshi      
10. Mr. Adnan Salim      
11 Mr. Nasir Ahmed      
 
     
Dated ___ day of 20...
      Witness to above Signature:
     
Name:   Occupation:  
S/O:   Nationality:  
Address:   Signature: