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
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
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:
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
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15.