MEMORANDUM OF ASSOCIATION OF THE INDIAN NEWSPAPER SOCIETY
The name of the Company (hereinafter called "the Society") is The Indian Newspaper Society. The Registered office of the Society will be situated in the State of Delhi. The objects for which the Society is established are:-
To act as a central organization primarily of the press of India, and of any other country in Asia, which desires to associate itself with the Society.
- To promote and safeguard the business interests of its members incidental to the production of their publications and to take suitable steps in respect of such business as are affected by the action of Legislatures, Governments, Law Courts, Municipal and local bodies, and Associations or Organizations, commercial or formed for any other purpose.
- To collect information upon all topics having a practical business interest for its members and to communicate the same to them.
- To promote co-operation in all matters affecting the common business interests of its members.
- To hold periodical conferences of its members to discuss and determine action on matters of common business interest.
- To make rules and regulations and bye-laws to govern the conduct of its members in accordance with the decisions of the Society, to provide penalties for the infringement thereof and to provide means of determining whether there has been such infringement.
- To maintain a permanent secretariat in India to watch over the business interest of its members and to permit of a constant interchange of information and views.
- To purchase, take on lease or hire or otherwise acquire or build any movable or immovable property for the purpose of the Society, and sell, improve, manage, develop, lease, mortgage, charge, dispose of or otherwise deal with all or any such property in the business interest of the Society.
- To invest and deal with the assets of the Society in such manner as may from time to time be determined by the Committee of the Society and to operate Current or Fixed Deposit Accounts with any Bank or Banks or in Government Securities as approved by the Committee.
- To subscribe, become a member of or otherwise co-operate with any other Association whose objects are wholly or in part similar to those of the Society
- To collect subscriptions and other contributions from its members for the recurring and incidental expenses of the Society.
- To undertake any arbitration for settlement of general or special disputes arising between members of the Society.
- To provide for the grant of any pension, gratuity, allowances, bonus or other payment to or for the benefit of the employees of the Society as deemed expedient whether they have or have not a legal claim upon the Society for such grants.
- To borrow or raise or secure the payment of money which may be required for the purposes of the Society in such manner as the Society may think fit.
- To undertake and execute any Trust which may lawfully be undertaken by the Society and may be conductive to its objects.
- To do or concur in doing all such other things as may be considered conductive or incidental to the attainment of the aforesaid objects or of the business interests of newspapers and periodicals in general or the Society or any of its members in particular.
- The income and property of the Society, wheresoever derived, shall be applied solely towards the promotion of the objects of the Society as set forth in this Memorandum of Association, and no portion thereof shall be paid or transferred directly or indirectly by way of divident, bonus, or otherwise howsoever by way of profit to the members of the Society, provided that nothing herein contained shall prevent the payment, in good faith, of remmuneration to any officer or servant of the Society in return for any services actually rendered to the Society.
- Membership of the Society shall be restricted to individuals, firms, or companies who own and carry on the business of the Management of a newspaper or newspapers or periodicals, and no other individual, firm, or Company shall be entitled to become or be or remain a member of the Society.
- The liability of the members is limited.
- Every member of the Society undertakes to contribute to the assets of the Society, in the event of its being wound up while he is a member, or within one year afterwards, for the payment of the debts and liabilities of the Society contracted before he ceased to be a member and of the costs, charges and expenses of winding up and for adjustments of the rights of the contributories among themselves, and such amount as may be required, not exceeding in the case of each member Rs. 10 (Rs. ten) only).
- In the case of the winding up or dissolution of the Society which can be done only by a Resolution carried at an Extraordinary General Meeting of the Society, all liabilities of the Society shall first be satisfied from the Society Funds, and the balance of the assets left therefrom shall not be paid to or distributed among the members of the Society but shall be gives or transferred to some other institution or institutions having objects similar to the objects of the Society, or to some charitable object, determined in either case by the Society at the aforesaid General Meeting.
WE, the several persons whose names and addresses are subscribed, are desirous of being formed into a Company in pursance of this Memorandum of Association.