m&a association

RESIGNATION, REMOVAL AND EXPULSION FROM MEMBERSHIP

45). (a). Any member may resign from the Chamber by giving 30 days notice in writing to the Executive Committee and upon expiration of the notice he shall cease to be a member. The member who has resigned or whose name has been removed from the register for non-payment of subscription or for expulsion from the membership for the Chamber shall remain liable for all dues to the Chamber upto the date of resignation, removal or expulsion.

(b). Any member who has resigned or whose name has been removed from the register or who has been expelled from the membership of the Chamber shall not be entitled to refund of membership fee paid by him to the Chamber.

(c). A member shall be liable to be fined upto an amount equal to that of the Membership Fee or to be expelled from the membership of the Chamber, or the rights and privileges of member shall be liable to be withdrawn, by a resolution of the Executive Committee passed in a meeting specially convened for the purpose by two third majority of the members present in person for any of the following reasons.

(i). Neglect of or refusing to submit to, abide by, or carry out any decision of the Executive Committee taken within the limits laid down by the Articles of the Association or by the Trade Ordinance, or any, rules, regulations, instructions or directions issued thereunder.

(ii). indulging in unethical practices.

(iii). Intentional violation of the rules, regulations, or bye-laws of the Chamber, provided that a member shall not be expelled by the Executive Committee unless he has been given an opportunity of explaining his position in writing and / or in person.

Provided further that the member so expelled shall have the right to appeal, within one month from the date of expulsion, to the General Body of the Chamber.

Provided further that when such an appeal is made by the member, the Executive Committee shall arrange to convene a meeting of the General Body within 30 days from the date of receipt of the appeal, and the decision of the General Body in the matter shall be final.

Provided further that the aggrieved person shall have the right to appeal to the Director General, whose decision shall be final and binding.

CESSATION OF MEMBERSHIP

46). A member shall cease to be a member of the Chamber for any of the following reasons:

(i). If he resigns from his membership as per clause (a) of Article 43 above, or

(ii). if he is expelled from membership as per clause (c) of Article 43 above or

(iii). If he fails to pay annual subscription or any other dues by a date determined by the Executive Committee, despite notice for ‘payment in this behalf’, provided that the Executive committee if it deems fit and proper shall have power to extend time for payment.

(iv). If any change is made in the constitution of a firm or corporate name of a company, or corporation which substantially alters the composition of that firm, company or corporation or

(v). In case of an individual, if he is un-discharged insolvent, or if he is adjudged by a competent court to be of unsound mind, or if he is convicted of an offence involving moral turpitude, or

(vi). In the case of a firm, when it is dissolved, or adjudged insolvent or the partners thereof are convicted of an offence involving moral turpitude,

(vii). In the case of company or corporation, when it is wound up, or

(viii). If he closes or transfers his business to a place outside Pakistan, or

(ix). If he is expelled from membership of the Chamber under the Trade Ordinance, or any other laws and Ordinance issued from time to time governing the activities of Trade Chambers, or

(x). if he ceases to hold requisite permission or license for carrying out the business of trade organizations.

RESTORATION OF MEMBERSHIP

47). A member whose name has been removed from the register due to non payment of subscription shall be eligible for re-enrolment on payment of an admission fee afresh and all arrears outstanding against him.