Wednesday, September 03, 2014
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REPUBLIC OF SOUTH AFRICA
COMPANIES ACT, 1973

MEMORANDUM OF ASSOCIATION OF A COMPANY NOT HAVING A SHARE CAPITAL (Section 54(1); regulation 17(1),17(2) and 17(a and b)

REGISTRATION NO. OF COMPANY

1. NAME

1.1. The name of the company is

BUCCLEUCH RESIDENTS ACTION COMMUNITY (ASSOCIATION
INCORPORATED UNDER SECTION 21)

1.2. The name of the company in the other official language of the Republic is N/A

1.3. The shortened form of the name of the company is

BRACe

FINANCIAL YEAR END: 31ST DAY OF MARCH EACH YEAR

2.    PURPOSE DESCRIBING THE MAIN BUSINESS

2.1. The main business which the company is to carry on: To represent and act on behalf of the Buccleuch community in all matters of communal interest. Without in any way reducing the generality of the previous sentence, this includes:

2.1.1. fostering community spirit and involving all members of the community in community affairs;

2.1.2. providing a forum for all members of the community, where common interests and concerns may be debated and resolved;

2.1.3. promoting, protecting and advancing the interests of the community in whatever manner is available and effective;

2.1.4. supporting the local ward councilor(s) in representing Buccleuch effectively in government at all levels;

2.1.5. establishing and/or administering social and/or sporting groups and/or facilities and/or activities as and when required;

2.1.6 acting as an agent for third parties in the collection of and/or dissemination of monies, information or any other agency functions as may be required from time to time.

2.1.7 promoting and supporting crime prevention and enhanced security.

2.1.8. Liasing with all levels of government to promote the interests of the Buccleuch Community.

3.    MAIN OBJECT

3.1. The main object of the company is: to promote, protect and advance the interests of the residents in Buccleuch.

4.    ANCILLARY OBJECTS EXCLUDED

4.1. The following objects are specifically excluded from the functions of the company:

4.1.2 The company shall not establish, affiliate with, bind itself to, or identify itself with any political party or other divisive grouping.

5. POWERS

5.1. The specific powers or part of any powers of the company, if any, which are excluded from the plenary powers or the powers set out in Schedule 2 to the Act are powers (s).

5.2. The specific powers of part of any specific powers of the company set out in schedule 2 to the Act which are qualified under Section 34 of the act, are the following:-

5.2.1.  Power (K) is modified to read as follows: “To form and to have an interest in any company or companies having the same or similar objects to the company for the purpose of acquiring the undertaking of all or any of the assets or liabilities of that company or companies or for any other purpose which may seem, directly or indirectly, calculated to benefit the company, and to transfer to any such company or companies the undertaking of all or any assets or liabilities of the company:”

5.2.2.  Power (L) is modified to read as follows: “To amalgamate with other companies having the same or similar objects to the company:”

5.2.3.  Power (M) is modified to read as follows: “To take part in any management, supervision and control of business or operations of any other company or business having the same or similar objects as the company and to enter into partnerships having the same or similar objects as the company:”

5.2.4.  Power (N) is modified to read as follows: “To remunerate any person or persons in cash for services rendered in its formation or in the development of its business should this be so directed by the members

5.2.5.  Power (O) is modified to read as follows: “To make donations to organisations having the same or similar objects to that of the company and to other organizations, provided that the company shall not have the power to make donations to any member or director of the company”

5.2.6. Power (R) is modified to read as follows: “To establish a pension scheme and medical scheme in respect of any contractors to the company. should this be so directed by the members.”

6. CONDITIONS

6.1. The income and property of the company whencesoever derived shall be applied solely towards the promotion of its main object and no portion thereof shall be paid or transferred directly or indirectly, by way of dividend, bonus, or otherwise howsoever, to the members of the company.
Provided that nothing herein contained shall prevent the payment in good faith of reasonable remuneration to any officer or servant of the company or to any member thereof in return for any services actually rendered to the company.

6.2. Upon its winding-up, deregistration or dissolution, the assets of the company remaining after the satisfaction of all its liabilities, shall be given or transferred to some other association or institution or associations or institutions having objects similar to its main object, to be determined by the members of the company at or before the time of its dissolution, or failing such determination, by the Court.

7.    PRE-INCORPORATION CONTRACTS

7.1. None

8. CAPITAL

8.1. The company does not have any share capital;

9. GUARANTEE

9.1. The liability of members is limited to the amount set out in 9.2;

9.2. Each member undertakes to contribute to the assets of the company in the event of its being wound-up while he is a member or within one year after he has ceased to be a member, for payment of the debts and liabilities of the company contracted before he ceased to be a member, the amount of R1.00.