Memorandam Of Association

MEMORANDUM OF ASSOCIATION

PAKISTAN-SRI LANKA BUSINESS FORUM
PREAMBLE:
1. To further the traditional, commercial, and reciprocal relationship between PAKISTAN and SRI LANKA and to maintain the spirit of the brotherly relations between the two SAARC countries, it has been decided to establish PAKISTAN-SRI LANKA BUSINESS FORUM(referred to as "Forum") with Headquarters in Karachi and eventual chapters in other cities of Pakistan.
2. With reference to the Memorandum of Understanding signed between the Forum and The Ceylon Chamber of Commerce of Sri Lanka on February 09, 2005 in Islamabad, Pakistan, that was witnessed by Her Excellency, Chandrika Bandaranaike Kumaratunga, President of the Democratic Socialist Republic of Sri Lanka, it was agreed that The Ceylon Chamber of Commerce of Sri Lanka would, in principle, be the partners in Sri Lanka and extend all support, cooperation, and assistance.
3 . The Forum shall be non-political, non-profit, and non-partisan.
AIMS AND OBJECTIVES:
4. The aims and objectives of the Forum shall be the encouragement, furtherance, and promotion of business, mutual understanding, and friendly relations between the industrial and business communities of Pakistan and Sri Lanka.
5. In order to pursue the aims and objectives, the Forum shall endeavor and engage in the following activities:
a) To organize and hold programs, seminars, discussions, and other related activities.

b) To encourage, advocate, and stimulate investment in both the countries through extensive interaction with trade organizations and businessmen, through exchange of delegations and visitors, through the setting up, assistance, and sponsorship of exhibitions, displays, and showrooms in Pakistan, and through the collection and dissemination of information, literature, and other relevant facts.

c) To project, promote, and highlight SAARC, especially with reference to SAFTA.

d) To provide a channel of communication and networking within the business community, and between the Forum and Governments of Pakistan and Sri Lanka.

e) To accept any gift, donation, grant, subsidy, or subscription.

f) To sponsor, arrange, and facilitate programs that promote the culture, traditions, arts and craft, and knowledge of the two countries.

g) To bolster, advocate, and advance the tourism industry of both the countries.

h) To assiduously promote responsible corporate citizenship of members.

i) To do all such things, actions, initiatives, and conducts as are incidental or conducive to the attainment of all or any of the above objectives.
  MEMBERSHIP:
6. Membership of the Forum shall be by invitation or by recommendation of a member. One of the proposers or seconders would always be any Founder Member.

The Patron-in-Chief would be the High Commissioner of Sri Lanka in Pakistan.
The Patrons would be:
  • The Consul General of Sri Lanka in Karachi.
  • The Honorary Consul of Sri Lanka in Karachi.
  • The Honorary Consul of Sri Lanka in Lahore.
  • The Founder Chairman, Mr. Majyd Aziz (Lifetime)
There would be three categories of members.

a) Founder Members:

This category shall comprise of those who have initiated, promoted, and formed the Forum. These members shall also have the privileges and benefits of proposing and/or seconding the application of a potential member. There would be a maximum of 35 Founder Members consisting of 20 from Karachi, 09 from outside Karachi, and 06 from Sri Lankans in Pakistan.

b) General Members:

This category shall comprise of authorized agents of Sri Lankan companies and Pakistany entrepreneurs having offices in Sri Lanka or having substantial business and/or trade with Sri Lanka.

c) Honorary Members:

The Forum may extend such a status to anyone whose contribution towards the promotion of Pakistan-Sri Lankan investment and trade is exemplary or to those who could be of assistance and support to the benefit of the Forum. The members in this category would not be entitled to stand for election for the Executive Committee. They would be allowed to participate in the General Body meetings.
SUBSCRIPTION:7) The applicable annual fee structure would be as follows. This would be reviewed as and when decided by the Executive Committee and approved at the Annual General meetings:
SUBSCRIPTION: (YEARLY FEE) Till Dec, 2008
  • Patron-in-Chief/Patron            :          Honorary
  • Founder Member                    :           Rs 10,000
  • General Member                     :           Rs 10,000
  • Honorary Member                   :           Honorary
JOINING FEE
  • Patron-in-Chief/Patron            :          Honorary
  • Founder Member                    :           Rs 6,000
  • General Member                     :           Rs 6,000
  • Honorary Member                   :           Honorary
8) The Annual subscription shall become due on the first day of January each year irrespective of the date of admission. Any member who fails to pay the subscription on or before the end of March shall automatically cease to be a member of the Forum and shall not be entitled to any privileges of a member.
9) Every member shall pay a non-refundable admission fee as follows:
From Jan, 2009
SUBSCRIPTION: (YEARLY FEE)
  • Patron-in-Chief                        :           Honorary
  • Founder Member                    :           Rs 10,000
  • General Member                     :           Rs 10,000
  • Honorary Member                   :           Honorary
JOINING FEE
  • Patron-in-Chief                        :           Honorary
  • Founder Member                    :           Rs 10,000
  • General Member                     :           Rs 10,000
  • Honorary Member                   :           Honorary
EXECUTIVE COMMITTEE:

The affairs of the Forum would be managed by an Executive Committee who would be elected at the Annual General Meeting from amongst the Founder Members and General Members. Atleast 50% of the Executive Committee would comprise of the Founder Members. The term of office shall be for a period of two years and they shall be eligible for re-election. The Executive Committee shall consist of the following:
  • President (A Pakistani Businessman)
  • Senior Vice President (A Sri Lankan Businessman)
  • 02 Vice Presidents (A Sri Lankan Businessman; A Pakistani Businessman)
  • Secretary General (A Pakistani Businessman)
  • Treasurer (A Pakistani Businessman)
  • 10 Members (3 from Sri Lanka; 7 from Pakistan)
  • Ex-Officio (The Consul General of Sri Lanka in Karachi)
  • Founder Chairman
  • All positions would be honorary and there would be elections for all offices, except Ex-Officio offices.
  • The Consul General of Sri Lanka, and in his/her absence, the Acting Consul General would be the Ex-Officio member.
  • Since Betel Leaves and Tea are two important commodities, one seat on the Executive Committee would be reserved for their representatives and they would be nominated by the Betel Leaves Importers and Retailers Association of Pakistan and by the Pakistan Tea Association.
MEETINGS:

The Executive Committee would meet in principle once a month at a place, date, and time decided by the Executive Committee. The agenda would be circulated by the Secretariat after consultation with the President, Senior Vice President, and the Secretary General.

The Annual General Meeting would be held once a year before December 31. The AGM would consider the report of the activities of the Forum, the budget and the audited accounts, decide on the future general activities of the Forum, and also elect the Executive Committee every second year.

The Extra-Ordinary General Meetings shall be convened by the President either on the decision of the Executive Committee or upon a request signed by 1/3 of the Founder and General Members of the Forum.

The Executive Committee may also invite the membership to attend the joint meeting between the Forum and the Ceylon Chamber of Commerce of Sri Lanka to be held once a year in Pakistan or in Sri Lanka.
ELECTION PROCESS:

The Executive Committee would decide the date of election and the Secretary General would give a Notice of Election, thru a recognized courier service as well as thru email, atleast thirty (30) days before the date of the AGM. The Notice of Election would specifically mention the following:
  • Candidature form that would be filled by the candidate by mentioning his/her name and company, membership status, office interested in contesting; name, company, and signature of proposer; name, company, and signature of seconder. The proposer and seconder must be Founder Members.
  • Only Founder and General Members are eligible to contest elections provided all dues are paid. Honorary Members are not eligible to contest election or to cast votes.
  • Election schedule.
  • Voting procedure.

The Executive Committee would appoint a Returning Officer who would normally be the Founder Chairman or the Secretary General, unless the incumbent Secretary General is seeking re-election in which case another senior member would be appointed.

The Executive Committee may decide to send postal ballots to those members who are based outside Karachi and the sealed postal ballots would be opened at the AGM in front of the candidates or their representatives.

The members from Sri Lanka would also vote for the Pakistany candidates, while at the same time, the members from Sri Lanka either may vote for Sri Lankan candidates or may, thru consensus, nominate the candidates provided such nominations are accepted and found in order.

The members, whose dues are cleared and paid, and are present at the AGM would be eligible to cast their votes. No proxies would be accepted but any member may designate a bona fide attorney of the company who is either a partner/owner/director/senior executive in that company to cast the vote. However, the attorney must present a letter of authority and intimate to the Returning Officer his/her presence before the election commences.

Immediately after the stipulated time for voting, the Returning Officer will count the votes in the presence of the candidates or their representatives and then announce the results during the agenda item at the AGM.

The outgoing President will hand over the charge of office to the incoming President just before the item "Any other matter" in the Agenda of the AGM.
  GENERAL ARTICLES:
10. The fiscal year of the Forum would be from January 01 to December 31.
11. The liability of the members is limited.
12. All members of the Forum shall have established or intend to establish a place of business or trade activity or liaison office within the territories of the Islamic Republic of Pakistan.
13. Amendments to the Memorandum of Association shall be subject to the approval of two thirds of the members.
We, the several persons whose names and organizations are subscribed as under, are desirous of forming the PAKISTAN-SRI LANKABUSINESS FORUM in pursuance of this Memorandum of Association.