Sample Memorandum of Association - 240808 - 123911
Sample Memorandum of Association - 240808 - 123911
Sample Memorandum of Association - 240808 - 123911
OF
(1) To install a textile-weaving unit, and to sell the cloth manufactured by the
Company within or outside Pakistan.
(2) To install and set-up an industrial undertaking for the sizing of all kinds of
yarn, and to size yarn for the Company’s own projects, and for other
projects in Pakistan.
(4) To supply yarn to weavers, and to assist, employ and hire such weavers for
the weaving of yarn, and to buy, sell, market and otherwise deal in weaved
products.
(5) To purchase, import, export, comb, spin, weave, dye and scour wool,
wool-top woolen yarn, worsted yarn, cotton yarn, man-made fibre, silk and
any fibrous substance.
(6) To carry on the business of hosiery products, and to establish, run, work,
maintain and control hosiery mills.
(8) To carry on the business of buying, selling, exporting and importing wastes
of all kinds of cotton, yarn, fibre, cloth, fabrics and other surplus
commodities which the Company may have at its disposal at any time, or
which can be devised, produced, made, compounded or made available by
the Company in any form as a result of its functions, processes or facilities.
(12) To borrow money by means of loans from directors, commercial banks and
Government financial institutions for the purpose of the business of the
Company, in such manner as the Company may think fit, and in particular by
the issue of debentures, perpetual or otherwise, convertible into shares or
non-convertible or perpetual annuities and as security for any such money
so borrowed, and to mortgage, pledge or charge whole or any part of the
property, assets or revenue of the Company by special assignment or
otherwise to transfer or convey the same absolutely or in trust as may seem
expedient and to purchase, redeem or pay off any such securities.
(13) To guarantee the performance of the contracts and obligations of the
Company in relation to the payment of any loan, debentures, bonds,
obligations or securities issued by or in favour of the company and to
guarantee the payment or return on such investment or of dividend on any
share of the Company.
(15) To purchase or otherwise acquire and undertake all or any part of the
business, property and liabilities of any person or company carrying on any
business which the Company is authorised to carry on, or possessed of
property suitable for the purposes of the Company.
(16) To sell, lease and in any other manner, deal with or dispose of the
undertaking or property of the Company or any part thereof for such
consideration as the Company may think fit.
(18) To distribute all or any of the property of the Company among the
members in specie or kind but so that no distribution amounting to a
reduction in capital be made without sanction of the court where requisite.
(19) To open bank accounts of the Company and to draw, accept, make,
endorse, discount, execute and issue cheques, promissory notes, bills of
exchange, bills of lading or other negotiable or transferable instruments
related to the business of the Company.
(20) To do all or any of such things, and to exercise any of the above-
mentioned powers and objects of the Company, by or through agents, sub-
contractors, trustees or otherwise.
(21) To do all such acts and things as are incidental, or which the Company may
think fit and conducive, to the attainment of the above objects.
(22) It is declared that notwithstanding anything contained in the foregoing
objects clauses of this Memorandum of Association, nothing shall construe
any power upon the Company to undertake or indulge in the business of a
banking company, any investment company, managing agency business or
any other unlawful business or operations in Pakistan, directly or indirectly.
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