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    Draft Memor B

    Uploaded by

    Atif Husayn
    The document is a draft memorandum of association for XYZ Exchange Company-B Limited. It outlines that the company will be located in XYZ province and will deal solely in the sale and purchase of foreign currency notes and coins in 'ready' value between individuals and other exchange companies. The company will also sell foreign exchange to banks but only in 'ready' value. It will not engage in any other activities beyond foreign exchange and will comply fully with all relevant laws and regulations.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Draft Memor B

    Uploaded by

    Atif Husayn
    22 views2 pages
    The document is a draft memorandum of association for XYZ Exchange Company-B Limited. It outlines that the company will be located in XYZ province and will deal solely in the sale and purchase of foreign currency notes and coins in 'ready' value between individuals and other exchange companies. The company will also sell foreign exchange to banks but only in 'ready' value. It will not engage in any other activities beyond foreign exchange and will comply fully with all relevant laws and regulations.

    Original Description:

    Draft Memor b

    Original Title

    Draft Memor b

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    The document is a draft memorandum of association for XYZ Exchange Company-B Limited. It outlines that the company will be located in XYZ province and will deal solely in the sale and purchase of foreign currency notes and coins in 'ready' value between individuals and other exchange companies. The company will also sell foreign exchange to banks but only in 'ready' value. It will not engage in any other activities beyond foreign exchange and will comply fully with all relevant laws and regulations.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    22 views2 pages

    Draft Memor B

    Uploaded by

    Atif Husayn
    The document is a draft memorandum of association for XYZ Exchange Company-B Limited. It outlines that the company will be located in XYZ province and will deal solely in the sale and purchase of foreign currency notes and coins in 'ready' value between individuals and other exchange companies. The company will also sell foreign exchange to banks but only in 'ready' value. It will not engage in any other activities beyond foreign exchange and will comply fully with all relevant laws and regulations.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    DRAFT MEMORANDUM OF ASSOCIATION FOR EXCHANGE COMPANY-B

    THE COMPANIES ORDINANCE, 1984

    COMPANY LIMITED BY SHARES


    MEMORANDUM 0F ASSOCIATION OF
    XYZ EXCHANGE COMPANY-B LIMITED
    I.

    The name of the company is XYZ EXCHANGE COMPANY-B LIMITED.

    II.

    The Registered Office of the Company will be situated in the Province of XYZ.

    III.
    The objects for which the Company is established are to undertake any or all of
    the following business in or outside Pakistan:
    1. To deal in only sale and purchase of foreign currency notes and coins.
    2. To buy and sell foreign exchange to and from individuals and Exchange
    Companies of either description in Ready value only.
    3. To sell foreign exchange in only `Ready` to the banks as counter party
    (Interbank Market).
    4. The comp any shall not be allowed to enter into franchise arrangements with
    other entities.
    The company shall fully abide by all the regulations, instructions, directives, circulars
    and other communications issued by the State Bank and subject its records and
    documents to the examination, inspection and supervision of the State Bank. It shall also
    ensure compliance with all other laws of the land; in particular the provisions relating to
    counterfeit coins and banknotes.
    Any change in the Memorandum and/or Article of Association of the company shall only
    be made after obtaining prior approval from the State Bank of Pakistan and subject to
    the compliance with the provisions of the Companies Ordinance, 1984.
    It is hereby undertaken that the company shall not engage in any other activity such as
    deposit taking, lending, directly or indirectly, and the business of a managing agency,
    NBFC, modaraba, insurance, or in any unlawful business or operation.
    IV.

    The liability of the members is limited.

    V.
    The authorized share capital of the company is rupees ----------------- (Rs.--------),
    divided into -------------- (-------) ordinary shares of rupees ---- (Rs. --) each, with power
    to increase, consolidate and divide, and sub-divide its share capital into several classes;
    provided that the rights between various classes of shares shall be strictly proportionate to
    the paid up value of shares.
    We, the several persons whose names and addresses are subscribed, are desirous of
    being formed into a company, in pursuance of this memorandum of association, and we
    respectively agree to take the number of shares in the capital of the company set opposite
    our respective names.
    Name and
    surname
    (present &
    former) in
    full (in
    Block
    Letters)
    1. AB
    2. CD
    3. EF on
    behalf of
    ABC Ltd.

    NIC No. (in


    case of
    foreigner,
    Passport
    No)

    Father's/
    Husband's
    Name in
    full

    Nationality
    with any
    former
    Nationality

    Occupation

    Residential
    Address in
    full

    Number of
    shares
    taken by
    each
    subscriber

    Total number of shares taken

    Dated the.................................... day of ...................................................20...........


    Witness to above signatures.
    ...........................................................................
    (Full Name, Father's/Husband's Name)

    Signature
    Full Address
    (in Block Letters)
    Occupation

    Signatures

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