Guarantee Limited Company

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???