Indian Income Tax
Google
 
Web tax4india.com
Tax India ›› Indian Law ›› Corporate Law ›› Society Act

Society Act

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:

  1. name of the society
  2. the objects of the society
  3. the names, addresses and occupation of the members of the governing body and
  4. the place of registered office of the society

Guidelines For Drafting Memorandum Of Association

Name Of Society

  1. The Registrar of Society may be approached with alternative names to ascertain whether the same are not undesirable and are not being used by other existing societies,
  2. It should not suggest obscenity or the decency and decorum
  3. It should not be likely to promote disharmony or feelings of enmity or hatred or ill-will between different religions, racial or regional groups or casts or communities
  4. It should not be identical or nearly resemble with the name of existing registered society
  5. It may end with the word 'trust'
  6. The name should be such that it does not attract the provisions of emblems and names (prevention of improper use) Act, 1950.
  7. It should not suggest or be calculated to suggest the patronage of the Government of India or connection with local authority or any corporation or body constituted by the government under any law for the time being in force.
  8. If it is proposed to give all India character to the society and words 'all India' or "Akhil Bharatiya" are to form part of name the society must have its constituents in atleast eight different states of Indian union.
  9. 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.
  10. The above provisions while selecting a name for the proposed society may guide the subscriber of the Memorandum of Association. The Registrar has the power to refuse registration if the name is inconsistent with these guidelines.

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.

Top

Business/Commercial Law In India | Consumer Rights Law In India | Insurance Law | Property & Real Estate Law In India | Indian Constitution & Law Procedure | Criminal Law In India | Indian Tax Law | Marriage & Divorce Law In India | Corporate Law In India | Inheritance Law In India | Intellectual Property Law In India | Environmental Law In India | Labour Law In India | Adoption In India
India Tax System
Income Tax
Service Tax
Wealth Tax
Sales Tax
Salary & Perquisites
TDS
Gift Tax
Capital Gains
Retirement Benefits
Housing Property
Partnership Firms
Trusts
VAT In India
Indian Budget 2009-10
Inflation
Corporate Tax in India
Tax Structure in India
Tax Planning for 2010
Investment In India
Savings Schemes In India
Mutual Funds
Insurance
FDI in India
Derivatives
Portfolio Management Services
ULIPs or Mutual Funds
Financial Planning Process
Risk and Return Analysis
Financial Instruments for Tax Saving
Estate Planning
Hedge Funds
Emerging Investment Avenues
Equity and Equity Capital
Investment in Art
Investments in Global Markets
Options Trading
Measures for Security and Portfolio Analysis
ULIP
ETF
Current Accounts
Working Capital
NRI Investments
Online Trading
Forex Trading
Day Trading
Types of Banks
Introduction to Depositories
Value and Growth Investing
Stock and Commodity Trading
Finance & Economy In India
Capital Market
Foreign Exchange Market
Fundamental Analysis
Money Market
Reserve Bank of India
Stock Markets
Technical Analysis
Economic Policies
Personal Finance
Corporate Finance
Economy of India
GDP India
Credit Crisis
Financial Ratios
Anti Money Laundering
Regulatory Environment
Financial Intermediaries
Securities and Exchange Board of India
Insurance Regulatory and Development Authority
Money and Its Importance
Banking
Role of Banks
Automated Teller Machine
Branch Banking
Internet Banking
Phone Banking and Mobile Banking
Banks as Financial Intermediaries
Demat Account
Demand Deposits
Term Deposits
Retail Loans
Investment Banking
Indian Law
Indian Law
Other Indian Links
Education in India
Indian History
Jobs in India

Sitemap | Our Partners | Loan Calculator | Amortization
Designed By SEO India Company.