UND�R THE SOCITIES REGISTRATION ACT, 1860

MEMORANDUM AND ARTICLES OF ASSOCIATION

"FUTURITES ALUMNI ASSOCIATION" GUJRANWALA

MEMORANDUM OF ASSOCIATION

Conscious of the need to promote closer understanding and to foster closer

relationship and more fruitful mutual cooperation between former students of
programmes offered by the Gujranwala Institute of Future Technologies (Pvt)
Limited (GIFT), do hereby propose the establishment of welfare Society
"Futurites Alumni Association".

The Executive Committee of "FUTURITES ALUMNI ASSOCIATION'' in its

meeting held on 04-07-2011 at 10:00 A.M unanimously resolved to constitute
and create an Alumni Association, with its registered office at GIFT
University, Opposite B.I.S.E., Gujranwala.

1. NAME OF THE SOCIETY:

The Society will be registered under the name and style of "FUTURITES
ALUMNI ASSOCIATION, GUJRANWALA" under the Societies Registration
Act, 1860.

2. REGISTERED OFFICE

The registered office of the Society will be situated at "GIFT UNIVERSITY,

OPPOSITE B.I.S.E, GUJRANWALA" .The office may be relocated in future.
The Society may form regional chapters in future to complement its activities.

Aims & Objects

The Society shall work within the territory of Pakistan. Hence, the objectives of
the Society shall be,

1: To maintain effective networking among alumni and industry.

2: To establish endowment fund.
3: To help GIFT students and graduates in finding jobs and internships.

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President �dent General Secretary

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We, the following undersigned members are desirous to get our society registered
under Societies Registration Act, 1860.

Sr. Name & Fat�er's / Address Occupation Signatures

No. Husband's Name

Ziad-ul-Hassan House No: CB-2167,

1. Warraich S/o Garrhi Shahu Service

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Mujahid-ul-Hassan Rahwali, Tehsil &
Warriach District Gujranwala
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House No: 216-B

2. Sufian Sarfaraz S/o Mohallah Satellite Business Man
Sarfaraz Ahmed Town Tehsil & �
District Gujranwala
Mohsin Iqbal Chattha Beron Khiali Gate
3. S/o Muhammad Iqbal Mohallah Islam Pura, Service
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Chattha Gujranwala
Nida Nawaz D /o Ch. Nawab House
4. Muhammad Nawaz Mohallah Prince Service
Street Green Town, .
Gujrat.

5.
Atif Javed S/o
Iqbal Javed
Sui Gas Road,
Ihtesham Colony,
Gujranwala
Service AP
Muhammad Awais House No: 134 Street
6. Rafique S/o No: 10-I, Peoples Business Man
Muhammad Rafique Colony X- Block,
Gujranwala �,
Zain Ul Abideen S/o Street No: 01, Rajput,
7. Rana Tahir Farooq Moh: Chah Chohana Coordinator
Wala Opp. Malik Steel
Noshehra Road �
Gujranwala

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 LIST OF OFFICE BEARERS

Sr. Name & Father's/ Address Designation Signatures

No. Husband's Name

Ziad-ul-Hassan House No: CB-2167,

1. Warraich S/o Garrhi Shahu President
Muj ahid-ul-Hassan Rahwali, Tehsil & �
Warriach District Guiranwala
House No: 216-B
2. Sufian Sarfaraz S/o Mohallah Satellite Vice President
Sarfaraz Ahmed Town Tehsil & �
District Gujranwala
Mohsin Iqbal Chattha Beron Khiali Gate
3. S/o Muhammad Iqbal Mohallah Islam Pura, General

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Chattha Guiranwala Secretary
Nida Nawaz D/o Ch. Nawab House
4. Muhammad Nawaz Mohallah Prince Additional
Street Green Town, General
Guin.it. Secretary

5.
'Atif Javed S/o
Iqbal Javed
Sui Gas Road,
Ihtesham Colony,
Gujranwala
Finance
Secretary
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Muhammad Awais House No: 134 Street
6. Rafique S/o No: 10, I-Street Vice Finance
Muhammad Rafique Peoples Colony Block- Secretary
Khokhar X, Gujranwala �
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President General Secretary

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 ARTICLES OF ASSOCIATION

1. Name of Society: FUTURITES ALUMNI ASSOCIATION

2. Registered Office: GIFT UNIVERSITY OPPOSITE BOARD OF INTERMEDIATE

& SECONDARY EDUCATION (B.I.S.E), GUJRANWALA

BOARD OF GOVERNORS:

The Board of Governors of the "FUTURITES ALUMNI ASSOCIATION'' comprises of

the following body:

� Chairman of the GIFT University

� Rector of the GIFT University
� Registrar of the GIFT University
� President of the Gujranwala Chamber of Commerce.
�- Treasurer of the GIFT University

The Board of Governors is the governing body of the Association and carries
responsibility for ensuring the effective management of the Association and for
planning its future development. It has ultimate responsibility for all the affairs of
the Association. The Association will be run only under the command and control of
the Board of Governors.

3. Membership & Subscription of the Society:

For the purposes of this Act a member is a person who has either subscribed to
the memorandum of association or has agreed in writing to become a member of
a society and whose name is entered in its register of members. He is admitted
according to the rules and regulations of the Society and also according to rules
he may resign or retire from membership.

There shall be following categories of membership:

� Members

� Honorary Members

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The Society may grant an honorary membership to a person in recognition of
outstanding services and support provided to the Alumni Association and/ or GIFT
University, Gujranwala, Pakistan. Further, the honorary me�bers also may be:

a) Officials of Government of Pakistan who deal with technical cooperation

activities.

b) Persons who are willing to patronize the Society.

c) Any other person decided by the Board of Governors.

Subscription & Fee:

Members shall pay subscription fee for membership.

Revival of a dormant membership shall require:

� Request in writing to the President

Payment of all outstanding dues, and

� Approval by the Board of Governors

4. RIGHTS AND DUTIES OF THE MEMBERS

a) Members of the Society shall submit their opinion concerning activities or

affairs of the Society to the Executive Committee during a General Body
Meeting.

b) All members of the Society shall have the right to inquire or ask for
permission from the Executive Committee to see any documents, accounts
or assets of the Society.

c) All members of the Society shall have the right to cast their vote in the
elections of the Society. Honorary Members may attend the meetings,
activities, elections, etc., by invitation.

d) Members of the Society shall abide by the Rules and By-Laws of the
Society.

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 e) Members shall inform the General Secretary, in writing, about any change
of personal information/ particulars give in the membership form.

5. TERMINATION OF MEMBERSHIP

Termination of membership shall take place in case of:

a) Death of a member

b) Relinquishment of membership

c) Majority vote of the Executive Committee against any member who fails to
abide by the Rules and By-Laws of the Society or acts in a manner not in line
with his status as member of the Society.

d) Any member desirous of relinquishing the membership of the Society shall

make a written tequest to the President of the Society. Any of his/ her arrears
in payment of subscription, fees or dues shall have to be settled.

e) Any member found to have indulged in anti-social or anti-state

activitiesor act against the interests of the society or GIFT University.

f) Executive committee is bound to address the issue of termination with

the Board of Governors and decision of the Board of Governors is final
in all respect.

6. ACTIVITIES

The Society shall undertake such activities as are in line with the objectives of the
Society described under Article of the Association, including but not limited to:

a) Functions/ shows of cultural, social and technical nature.

b) Collection and dissemination of valuable reading and audiovisual materials of

mutual interest among the members.

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 c) Activities beneficial for the members of the Society.

d) Social welfare activities.

e) Fund raising for running the affairs of the society.

f) Arranging jobs and internships for GIFT students

g) Any other activity in the interest of the Society and GIFT University.

7. EXECUTIVE COMMITTEE AND MANAGEMENT

There shall be an Executive Committee appointed by the Board of Governors to

administer the activities of the Society as in accordance with the Rules laid down to
serve the purpose of the Society. The Executive Committee consists of the following:

1. President

2. Vice President

3. General Secretary

4. Additional General Secretary

5. Finance Secretary

6. Vice Finance Secretary

The affairs of the Association shall be managed by the Executive Committee. The
Executive Committee shall exercise its powers related to management of the Society
through:

a) President (or in his absence, Executive Vice President)

b) General Secretary (or in his absence, Additional General Secretary)

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8. ELECTIONS:

The election of the "FUTURITES ALUMNI ASSOCIATION" will be held after

completing its one year.

9. DUTIES AND POWERS OF THE EXECUTIVE COMMITTEE

Duties of the Executive Committee:

a) Management of affairs of the Society in line with objectives of the Society.

b) The Executive Committee shall not act contrary to the expressed wishes of
majority members of the General Body.

c) The Executive Committee shall authorize expenditure for carrying out the
activities of the Society after taking approval from Board of Governors.

d) The Executive Committee may appoint such sub-committees as it may deem

necessary and determine the extent of powers to be vested in the sub­
committee subject to prior approval from Board of Governors.

e) President shall chair meetings of the General Body and the Executive
committee. The President shall also represent the Society in dealing with
other organizations. President shall have the powers to authorize any
expenditure in case of any emergent requirement after prior approval from
any member of tqe Board of Governors.

f) Vice President shall enjoy the powers of the President in case of absence of
the later.

g) Vice President of the Society shall have responsibilities similar to President

except the financial and administrative powers.

h) General Secretary shall be responsible for overall general administration. The

General Secretary shall be responsible for
management of Alumni office, maintenance of all record of the
Society, including minutes of different meetings. He/She will be
responsible to arrange meetings and events of the Association. The General
Secretary shall maintain the accounts of the Society jointly with the Finance
Secretary. General Secretary may hire the services of any personnel on
temporary or on permanent basis with the approval of Executive Committee

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 and also after due consideration of Board of Governors. Executive Committee
shall decide the financial powers vested in General Secretary of the Society.

i) Additional General Secretary shall jointly handle the responsibilities of the

General Secretary and shall officiate as General Secretary, in case of absence
� of the later.

j) Finance Secretary and President shall jointly operate the Society's bank
account(s) and shall submit the reports annually before the Board of
Governors and also prepare the annual budget proposal with consultation of
General Secretary for Board approval and opinion as well.

k) Other members of the Executive Committee (If any) shall render necessary
assistance in management of the Society as and when requested by the
Executive Committee to do so.

1) The term of office of Executive Member shall terminate in case

(i) Expiry of term

(ii) Resigning

(iii) Termination of membership

(iv) A majority decision of the General Body

The Executive Committee shall meet at least once in every three (3) months
after serving seven (7) days notice to all members of the Executive Committee.
The Executive Committee shall conduct its business on the basis of a
majority vote. In case of tie vote, the President shall arbitrate to reach a
decision.
Quorum for a meeting of the Executive Committee shall be 1 / 3rd of the total
number of Executive Committee members. The voting power and interest of
Members in the Association shall be equal.

10. AFFILIATION (s):

The Executive Committee shall decide about affiliation(s) with other

organizations for promotion of mutual aims, welfare and objectives.The
Society shall not affiliate with any political or government organization in

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 Pakistan nor will it support any political cause, activity or candidate for
political office in Pakistan. The Executive Committee shall also abide by the
Board of Governors.

11. GENERAL BODY MEETING:

A meeting of the General Body may be called by the Executive Committee

after prior approval from Board of Governors a notice of 21 days or 10 days.
Quorum for a meeting of the General Body shall be 1 / 6th of the total number
of members of the Society. The Executive Committee shall present reports on
previous activities, performance, balance sheet, etc. during a meeting of the
General Body.

12. ARBITRATION

The President of GIFT University, Gujranwala will be Patron-in-Chief of

the Association.
1. Patron-in....:.Chief will also act as an Arbitrator. The Executive Committee
may by written agreement refer to Patron-in-chief (Arbitrator) for
arbitration, in accordance with the Arbitration Act, 1940 (X of 1940), an
existing or future difference between itself and any other institutions,
member or person.
2. Association, parties to the arbitration, may delegate to the arbitrator
power to settle any term or to determine any matter capable of being
lawfully settled or determined by the Association itself, or by the
Executive Committee.
3. The provisions of the Arbitration Act, 1940 (X of 1940), shall apply to
all arbitrations between Association and the concerned persons.

13. ORGANS OF THE SOCIETY

The Executive Committee of Association can also constitu�e the following

Committees (If required) after prior approval from Board of Governors:

1. Management Committee
2. Publication Committee
3. Liaison Committee
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 4. Public Relations Committee
5. Event Management 9ommittee
6. Alumni Response Committee

14. FUNCTIONS OF COMMITTEE:

Each Committee in general would be performing the following responsibilities:

1. To coordinate academic and self-enrichment programs for the alumni;
2. To report the President, Vice-President, General Secretary or Additional
Secretary on programs of the Associations directly benefiting students;
3. To initiate student-alumni activities;
4. To propose and develop projects for the improvement of the Association image.

15. BOOKS OF ACCOUNTS:

The Books of Accounts of the Society will be maintained on regular basis and
as in accordance with the generally accepted accounting principles and
satisfactory arrangements exist for their inspection by interested members of
the public.

16. AUDIT OF THE SOCIETY:

As per Clause (a) of sub rule (1) of rule 213, For the audit of the annual
accounts of the organization every year by a qualified accountant as specified
in clause (f) of sub rule (2) of rule 211 in which "qualified accountant means"
(i) a retired audit, accounts, treasury or taxation officer of the Government
not below BPS-17 or a bank manager, where the annual receipts of the
organization do not exceed Rs. 0.5 million; (iii) in other cases, a Chartered
Accountant as defined under the Chartered Accountants Ordinance, 1960, (x
of 1960) or the Cost and Management Accountant as defined under the Cost
and Management Accountants Act, 1966 (XIV of 1966) or a firm Chartered
Accountants as defined under the Chartered Accountants Ordinance, 1960 (X
of 1960) or a firm of Cost and Management Accountants Act, 1966 (XIV of
1966)]

President General Secretary

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 • At the end of every financial year the financial statement of the Society
will be audited by any authorized auditor as defined above.
• The financial year will be closed as at 30th June, of every year.

17. QUORUM OF THE MEETING:

As per Clause (b) of sub rule (1) of rule 213, Where the Organization
registered under the 4 [Companies Ordinance, 1984,) the Societies
Registration Act, 1860 (XXI of 1860), the Voluntary Social Welfare
(Registration Control) Ordinance, 1961 (XLVI 1961), or any other law in
substitution thereof relating to the registration of welfare organization, for the
quorum of a meeting of the members of the body in which the control of the
affairs of the organization vests, being not less than four or one-third of the
total number of the members of such body, whichever is greater;
Notice for holding annual general meeting and extra ordinary meeting will be
21 days and 10 days respectively. The meeting will be adjourned for lack of
quorum and will be reconvened within period of one week with three days
notice. There will-be no binding of quorum in this case.

MEETINGS:

• The annual general meeting of the Society will be held on yearly basis,
where the annual reports will be presented.
• The meeting of the society will be held as when necessary with the
permission of the President.

• All matters will be decided with the majority of votes, in case of tie or
.. ties, the President will have the casting vote .

18. DISSOLUTIONS:

As per Clause (d)(e) & (f) of sub rule (1) of rule 213, For the transfer of its
assets, in the event of its dissolution, after meeting all liabilities, if any, to
another organization which is an approved non-profit organization, within
three months of the dissolution under intimation to the Commissioner; For
the utilization of its money, property or income or any part thereof solely for
promoting its objects;
Further, in the event of dissolution of the Society its assets left after meeting
its liabilities, if any shall be transferred to any other society with same aims &
objects and registered under Societies Registration Act 1860. Section 13 of
Act ibid will be fully acted upon and also approval under Clause 61 of the 2nd
Schedule of the Income Tax Ordinance, 2001 under the instruction of the
Federal Board of Revenue within three months of the dissolution and also as
in accordance under Clause (d) (e) (f) of sub-rule (1) of Rule 213 of the Income
= Tax Rules 2002.

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President General Secretary
 Income, property & portion of its money, howsoever derived shall be applied
solely towards the promotion of the objects of the Society and no portion
thereof shall be paid or transferred directly or indirectly by way of dividend,
bonus or profit of any of its members or the relative or relatives of a member
or members.

19. BANK ACCOUNTS/PROTECTION OF FUNDS:

As per Clause (g) of sub rule (1) of rule 213, for the maintenance of accounts
of the Organization being kept in a Scheduled bank or in a post office or
National Savings Organization, National Bank of Pakistan or nationalized
commercial banks; and shall be operated by the President and Finance
Secretary or any designated officer appointed by the Board of Governors.

20. AMENDMENTS TO THE RULES AND REGULATIONS:

As in accordance Clause (h) of sub-Clause (1) of Rule 213 of the Income Tax
Rules 2002, for prohibiting the making of any changes in the constitution,
memorandum and articles of association may be without the prior approval of
the
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Commissioner.

The Board of Governor will be called for making any amendments in

constitution and will make such amendments in 2 / 3 majority of the
Executive Committee. The society will trim every never to achieve the aims
and objects for which it has been constituted within the framework of its
rules and regulation, but the amendments and approval will not be applicable
until and unless it is approved by the Registrar Joint Stock Companies
,. Gujranwala and Section 12 of Societies Registration Act, 1860 will be entirely
acted upon subject to the prior approval from the Commissioner

21. SOURCE OF INCOME:

The funds of Society shall consist of:

• Contribution from members.

• Donations, Presents and gifts from individuals or from corporate
organizations.
• Grants-in-aid from the Government and other NGO's from home or
abroad.
• Rental and lease money or by selling some donated assets.

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 • The funds of the society shall be kept in any scheduled bank or banks
and the bank account(s) shall be operated jointly by the President, and
Finance Secretary.

As in accordance of Clause (i) of sub-rule (1) of 213, for restricting the

surpluses or monies validly set a part, excluding restricted funds, up to
twenty-five per cent of the total income of the year:
Provided that such surpluses or monies set apart are invested in Government
securities, National Saving Schemes, issued by the Central Directorate of
National savings, NIT units, a collective investment scheme authorized or
registered under the Non-Banking Finance Companies (Establishment &
Relation) Rules, 2003, mutual fund, a real estate investment trust approved
and authorized under the Real Estate Investment Trust Rules, 2006, or
scheduled bank:
Explanation: For the purpose of this rule, "restricted funds" mean any fund
received by the organization but could not be spent and treated as revenue
during year due to any obligation placed by the Donor.

22. NON-PROFIT ORGANIZATION:

The Society will be bound to follow the Rules & regulations of Income Tax
Rules, 2002 to enjoy the benefits as non profit organization after completing
its one year performance/ activities. The prescribed Rules and Regulations are
given as under:

a) The Society will not be used for personal gain of any particular person or a
group of persons�
b) The Society will not be propagating the view of a particular political party or a
,. religious sect;
c) The Society will not be managed in manner calculated to personally benefit its
members or their families;
d) The Society will try to achieve its declared aims and objects in view of its set
up and administration.
e) The Society will abide by the expenditure on salaries exceeding 50% of the
total receipts excluding restricted donations or funds received during a tax
year.

We here by certify that the Rules & Regulations of the Society are correct.

President General Secretary

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