The name of the Association is “Management Association of Pakistan”, hereinafter referred to as “Association”. The registered office of the Association will be situated in the province of Sindh. The objects for which the Association is established are:

To establish and maintain an association that serves as a forum for interaction for individuals and organizations concerned with and interested in various disciplines of Management.

To lay down standards of knowledge, training and experience of management practices in its internal and external activities, appropriate to various categories of membership of the Association.

To administer countrywide operations under the supervision of Registered office of the Association.

To acquire, collect, collate, preserve, edit and disseminate information on management practices by establishing libraries, printing and publishing periodicals, pamphlets, quotations, reports, journals, conducting training sessions, workshops, and holding seminars and conferences with the cooperation of educational and research institutions.

To promote, form, equip, maintain and carry on schools of instruction in all the matters appertaining directly or indirectly to management or any other method of inter-communication, and to provide scholarships, awards, rewards, prizes of any kind in connection with such matters.

To act as managerial consultants and advisors to members.

To act as a coordinating body in order to facilitate internships and executive placement for members.

To encourage business to join the association and individuals to qualify for individual and other forms of membership.

To develop management courses of all kinds whether independently or in collaboration.

To exchange information with other bodies, nationally and internationally and collaborate with them.

To formulate standards of conduct for members and encourage appropriate professional attitudes for qualified individual members.

To hold examinations and tests of knowledge and experience of management theory and practice and to award certificates and diplomas to those who pass such examinations and tests.
In pursuance of the objects described above to do all such acts, matters and things, singular or plural which may be necessary, convenient, describable or expedient and for that purpose:

To purchase, take on lease, or in exchange hire or otherwise acquire any immovable or movable property and any right or privileges that the Association may think necessary or convenient for furthering its objects.

To borrow or raise money in such a manner as the Association shall think fit.

To receive money on deposit with or without return (not being return prohibited by The Shariah or by State Policy) by way of penalty, fines, subscriptions, entrance fees, rents, from members or for the objects of the Association, and further to put the same to any use authorized by Law and not inconsistent with State Policy.

To remunerate any person, firm or company rendering services to the Association.

To create, raise, collect and apply and appropriate funds for the benefit and welfare of members and the employees of the Association or for donations to the public or other Social Welfare funds of public nature or in furtherance of national interest, but no funds whatsoever shall be created, raised or disbursed for donations or for benefit to any political party directly or indirectly and, to do all necessary acts and things in this behalf.

To promote, support or propose legislative or other measures for any activities affecting the objects of the Association or any interests therein.

To enter into arrangements with the Government or government agency which may seem conducive to the objects of the Association or any of them and to obtain from the Government or such agency any powers, rights, licenses, privileges or concessions which the Association may think fit and desirable to obtain; and to carry out, exercise and comply with any such arrangements, rights, licenses, privileges and concessions.

To take any actions, considered necessary to raise the status, or to promote the efficiency of the Association.

To do all such other acts and things as may be considered incidental or conducive to the above objects or any of them.

1. The Liability of the members is limited but if any member of the Association pays or receives any dividend, bonus or other profit in contravention of the sixth paragraph of the memorandum he shall refund the same to the Association.

2. Each member undertakes to contribute to the assets of the Association in the event of its being wound up while he is a member, or within one year afterwards, for payment of the debts and liabilities of the Association contacted before he ceases to be a member, and of the costs, charges and the expenses of winding up, and for adjustment of the rights of the contributories among themselves, such amount as may be required, not exceeding upon thousand rupees.

3. Notwithstanding anything contained herein the Income and Property of the Association whensoever derived shall be applied solely towards the promotion of the objects of the Association as set forth herein and no portion thereof shall be paid or transferred directly or indirectly by way of dividend or bonus or otherwise, howsoever, by way of profit to the persons who at anytime are or have been members of the Association or to any of them or to any person claiming through any of them except in the case of winding up of the Association.

Provided that nothing herein contained shall prevent the payment of any remuneration to any Officer, or Servants in the employment of the Association or to any member, who is in full time employment of the Association or other person in return for service actually rendered to the Association or conveyance or traveling expenses to any of them incurred on behalf of the Association or the payment of the return (not being return prohibited by the Shariah or by State Policy) on any money borrowed from any Member of the Association.

Provided further that nothing herein contained shall prevent the Association from making payment of claims to any Member of the Association out of the assets of a defaulting Member.

4. If upon winding up or dissolution of the Association there remains after the satisfaction of all its debts and liabilities any property whatever the same shall not be paid to or distributed among the members of the Association, but shall be given or transferred to some other society or societies to be determined by the votes of not less than three-fourths of the members present personally or by proxy at the time of dissolution, or in default thereof, by the principal Court of Original civil jurisdiction at Karachi.

No addition, alteration and amendment shall be made in the Memorandum of Association or in the regulations contained in the Articles of Association for the time being in force unless the same shall have been previously submitted to and approved by the Government.

We, the several persons whose names and addresses are subscribed agree to be the members of the Association in pursuance of these Memorandum of Associations of the Management Association of Pakistan (Guarantee) Limited.