November 22, 2008

Draft of Trust Deed for the Publicans Alumni Trust

 

Given below is the draft of the Trust Deed for the Publicans Alumni Trust received from Arshad Iqbal (Class of 1966)

 


                            DECELARATION OF TRUST

THIS DEED OF DECLARATION OF TRUST is made at Karachi on this ...............day of September 2008 by me ...................................
son of ...................................................................................., I Hereby Create a Trust Fund of Rs.......... /- (Rupees ..........................only) Forming the Subject Matter of the Trust to be known as "PUBLICANS ALUMNI TRUST" and transfer said amount along-with right of control over the Management and Administration of the said Trust by the First Board of Trustees (Including My self as one of the trustees) with Terms and Conditions as under;

That First Board of Trustees shall consist of the following trustees;

1. Son of resident of
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5.
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NOW THIS DEED WITNESSES as under:

PURPOSE AND AIM.

1. This Trust has been created with the fundamental purpose and aim to Mobilize Participation and efforts by Publicans in Pakistan and across the world To support education, in its most comprehensive and qualitative sense, for the Benefit of the Disadvantaged and Deserving people/students.

(Also state other purposes if any for which the Trust is being created).

OFFICE.

2. That office of the Trust shall be situated at ............................

ACCOMPLISHMENT OF PURPOSE.

3. That purposes of the Trust shall be carried/accomplished by utilizing Trust Fund to be kept in any Bank or Banks as may be decided by the Board of Trustees.

MANAGEMENT.

4. That the affairs and management of the Trust shall be Governed/Run by The Board of Trustees consisting of one Chairman/President, one Vice-Chairman/ Vice-President, one Secretary, one Treasurer and ------------------------Members of The Board of Trustees, to be elected by Trustees from amongst themselves. The Board shall be reconstituted by trustees after every three years from the date of its Last reconstitution or for such longer time as the trustees may fix at the time of It's Reconstitution.

TRUST TO SURVIVE.

5. If and whenever the number of the trustees is reduced for any reason Below total number of Board of trustees, continuing trustees shall appoint from Members of the Trust such number of new Trustees as shall be required to make Up the total number of Board of Trustees as set out in paragraph 4 herein above.

(How ever reduction in number of trustees shall not hamper working of the Trust, the Trust shall survive, affairs of the Trust, its Management and Property of the Trust including Trust Fund shall pass on to other surviving trustees).

DECISION BY SIMPLE MAJORITY.

6. The powers and duties hereby vested and exercisable by the Board of Trustees including operation of Bank account(s) shall be performed or exercised By decision of simple majority and such decision of the trustees shall be as valid And effective as it would have been, if done by all the Trustees.

RULES.

7. Subject to Provisions of Trust Act 1882, the Board of trustees shall from Time to time make and alter Rules and Regulations as the trustees may think Proper with regard to General Membership of the Trust, appointment and removal Of Trustees, appointment and removal of Auditors, Legal Adviser and Consultants etc., the Conduct of the Affairs of the Trust and all matters in respect Of which any power or duty is hereby vested in them including powers and Duties of the Chairman/President, Vice-Chairman/Vice-President, Secretary, Treasurer and Trustees as Members of the Board.

APPOINTMENT/REMOVAL OF STAFF.

8. The Board of trustees shall be competent to appoint, fix remuneration, Remove and dismiss any staff or employee of the Trust.

INVESTMENT OF SURPLUS TRUST FUND.

9. The Board of trustees shall invest surplus trust fund after deducting bad Debts, expenses of realization and litigation etc, in any of the forms of investment Allowed by law and may from time to time vary such investments for others of a Like nature as often as deem expedient for meeting maintenance and recurring Expenses of the Trust.

PROPERTY/ASSETS.

10. The Board of trustees shall have power to acquire land/property/assets and To sell or otherwise transfer any of the Trust property. The Board of Trustee shall Have further powers to Let-out on rent any of its property on such terms and on Such conditions as the Board may think proper.

TRUST FUND.

11. The Board of trustees may at any time or when it think expedient, do acts, Deeds and things necessary to raise Trust Fund either by accepting grants, Donations, gifts, contributions from Government, Members of the Trust, or from Any other Person or Authority and the Board may apply any part of the trust fund In acquiring by purchase or on lease or otherwise any land or building in the name Of the trust and as part of the Trust and all such lands or buildings so acquired Shall be used for the purposes of the trust for extension and establishing new/ Further Projects of the Trust.

PROTECTION OF TRUST PROPERTY.

12. The Board of Trustees shall be bound to fulfill the purposes of the trust And shall do or cause to be done all acts, deeds and things necessary for the Preservation of the Trust property and Assertion or Protection of the Title Thereto and the board of trustees may, if think fit;

 

a. Accept any Composition or any Security for any debt or for any property claimed;

 

b. Allow any time for payment of any debt;

 

c. Compromise, compound, abandon, submit to arbitration or otherwise settle any debt, account, claim or thing whatever relating to the trust; and,

 

d. Defend any suit or initiate any litigation in the name of the trust.

 

e. For any of those purposes, enter into, give, execute and do such agreements, instruments of composition or arrangement, release and other things as seem expedient, without being responsible for any loss occasioned by any act or thing so done in good faith.

ACCOUNTS.

13. The board of trustees shall always keep clear and accurate accounts of the Trust Fund and Trust Property.

TRUSTEES TO WORK WITH/WITHOUT REMUNERATION

14. That all Trustees shall work without any remuneration Or That all trustees shall be entitled to such remuneration as the Board may fix From time to time but total sum of such remuneration for all trustees for any One year shall never exceed .... % (........ Percent) of the total/net income of the Trust.

MORAL CONDUCT OF TRUSTEES

15. That no trustee shall use or deal with the Trust properties for his own Benefit and Profit or for any other purpose unconnected with the trust.

IN WITNESS HEREOF I have signed this deed of declaration of Trust on the Day, Month and the Year as first mentioned herein above and in presence of the

Following Witnesses;

WITNESSES;

1. EXECUTANT.

2.

First Trustees of the Proposed "PUBLICANS ALUMNI TRUST" in meeting Held at Karachi on has passed the following resolution;

RESOLUTION

Resolved that a Trust to be known as PUBLICANS ALUMNI TRUST be Created with the fundamental purpose and aim to Mobilize Participation and Efforts by Publicans in Pakistan and across the world to support education, in its Most comprehensive and qualitative sense, for the Benefit of the Disadvantaged And Deserving people/students and Deed of Declaration of the said trust be Executed and Registered with a trust fund of Rs. (Rupees............only).

TRUSTEES:

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