ALMEER WELFARE TRUST
AIMS AND OBJECTS
III. The objects for which the Trust is established shall be the following:
1: To undertake, promote, participate in or contribute, to welfare or charitable activities, including relief to the poor, rehabilitation of the destitute, provision of education, medical relief, recreational facilities & advancement of any other object of public welfare as the Trust may decide from time to time.
2.To help the destitute, sick & needy persons & specially to enable individuals to earn their livelihood honorably & for the purpose to provide, arrange or help in the provision of training in semi-skilled or skilled trades & vocations or help in the establishment of small businesses, cottage industries etc and open, ‘contribute to or help in opening of work houses/poor houses etc.
3.To give prizes, awards, scholarships, stipends, lump-sum grants, repayable interest free loans and donations in cash or kind etc to talented students for advancement of their education or research work both in and outside Pakistan.
4.To complete construction work of Tomb of Moulvi Jee sarkar and to look-after and maintain affairs of the Tomb.
5.To print and publish various religious books and other materials for general public use including recorded materials according to the need of trust for using at print and electronic media for the benefit of masses.
And for all or any of the objects aforesaid to do any of the following things
a.To receive and administer funds for the foregoing charitable, educational and scientific objects and to take & hold, by request, devise, gift, purchase or lease, either absolutely or interest, any property whether real, personal or mixed without limitation as to amount or value except such limitation as may be imposed by law.
b.To sell, conveyor dispose of any such property and to invest/reinvest the principal and income thereof, to deal with and expend the principal amount and income of the Trust for any of the aforementioned objects and purposes without limitation except such limitations as may be contained in the instruments under which property is received or such other limitations imposed by law.
c.To receive any property whether real, personal or mixed under the terms of any will, deed or other instrument for the foregoing objects or any of them and in administering the same to carry out the directions and exercise the powers contained in the instruments under which the property is received including the expenditure of the principal as well as the income for one or more of such objects as authorized or directed in the instrument.
d.To receive, take title to hold and use the proceeds and income of stocks, bonds, obligations or other securities of any Government or Corporation, domestic or foreign but only for the foregoing purposes.
e.To seek relief exemptions from income tax, with holding tax and all other exemptions on donations and contributions to the Trust as may be permissible to similar Trusts not working for profit, under the existing laws of the country.
f.To arrange and convene, conferences, lectures, meetings on the subjects involving object matters of the Trust.
g.To affiliate with any national or international organizations having objects altogether or in part similar to those of this Trust for the purpose of securing aims & objects of this Trust, provided the Trust should not be affiliated with any international or foreign body without prior permission of the Government.
h.To take such steps as personal or written appeals, public meetings or otherwise as may from time to time be deemed expedient for the purpose of procuring contributions to the funds of the Trust in the shape of donations, grants or otherwise for realization of the objects of the Trust.
i.To construct, maintain and alter any houses, buildings or works necessary or convenient for the purposes of the Trust.
j.To invest any money of the Trust not immediately required for any of its objects in such manner as may from time to time be determined and utilize the profit thereof for promoting the objects of the Trust.
k.To frame bye-laws, rules and regulations for the conduct of the members, office bearers and officers of the Trust and to carry out the various objects of the Trust.
l.To bring suits and/or action either in Civil, criminal, revenue or other courts in the name of the Trust under the signature of its Chairman or Secretary or to defend any action against the Trust.
m.Generally to undertake, do and perform all such acts, matters or things as may be desirable or necessary in the opinion of the board of Trustees for the accomplishment of the foregoing purpose or any of them and in particular to enter into contracts to undertake financial and commercial obligations, to lend money with or without security, to borrow or raise or secure the payment of money, to open, operate and maintain bank accounts, to sell, exchange, mortgage, let or lease or otherwise deal with the. property and accounts of the Trust, to purchase, take on lease or tenancy or in exchange, higher, takeover options or otherwise acquire any estate, interest or property whatsoever and to insure and maintain insured such estate, interest or property and to hold, develop, deal with, turn to account any property assets or rights, real or personal and in the discretion of the Board of Trustees to apply the assets of the Trust in or towards the establishment of any association or institution, the objects of which or in accordance with the objects of the Trust.
DISBURSEMENT OF INCOME AND PROPERTY
6. (a) The income and property of the Trust, whatsoever derived, shall be applied solely towards the promotion of the objects of the Trust, as set forth in this Memorandum of Association, and no portion thereof shall be paid or transferred, directly or indirectly by way of dividend or bonus or otherwise, howsoever, or by way of profit to the persons who, at any time, are, or have been members of the Trust or to any of them or to any person claiming through any of them. It is expressly stated that no member of the Trust shall be appointed to salaried office, provided that nothing herein contained shall be deemed to prohibit the payment in good faith of remuneration to any officers or servants of the Trust or to any member thereof or other person in return for any service actually rendered to the Trust or the payment of interest on money borrowed from any member of the Trust or in fulfillment of a contract entered into by the Trust.
(b) 25% of the income including donations made to the Trust not utilized or Twenty Thousand Rupees which ever is less, shall be invested in the Government Securities or in NIT Units and intimation to this effect shall be given to the commissioner in whose jurisdiction the Trust falls.
2:AMENDMENTS IN MEMORANDUM AND REGULATIONS
No addition, alteration and amendment shall be made in the Memorandum of Association or in the Regulations for the time being in force unless the same has been previously submitted and approved by the special resolution of the General Meeting of the Trust in accordance with the Regulations provided that all amendments shall be subject to the approval of Government and shall also be made when required by Government in the public interest.
Subject to the conditions contained in clause 4 & 5 above or any other conditions imposed by the Government, the Trust shall also abide by the following namely:
i.The Trust shall be formed as a Trust within the meaning of Trust Act, 1882.
ii. The limit of liability of its members shall not be less than five thousand rupees having regard to all the circumstances of the case; and
iii. Patronage of any Government or authority, express or implied, shall not be claimed unless such Government or authority has signified its consent thereto in writing
DUTY OF MEMBERS ON WINDING UP OF THE TRUST
Every member of the Trust undertakes to contribute to the assets of the Trust, in the event of the same being wound up during the time, he/she is a member, or within one year afterwards for payments of the debts and liabilities of the Trust contracted before the time at which he/she ceased to be a member and of the costs, charges and expenses of the winding up of the same.
PROCEDURE AFTER WINDING UP
If upon the winding up or dissolution of the Trust there remains, after the satisfaction of all its debts and liabilities any property whatsoever, the same shall not be paid to or distributed among the members of Trust, but shall be given or transferred to some other institution or institutions duly approved by the Board or the Federal Government and having objects similar to the objects of the ALAMEER WELFARE TRUST to be determined by the members of the Trust at or before the time of dissolution. Intimation of such transference must be given to the Board within 3 months of the dissolution.