MEMORANDUM OF ASSOCIATION

OFFICE BEARERS OF ASSOCIATION

"The Association is Registered under the Companies Act, 1956. The Company Limited by Guarantee, Not for Profit".

1. Name of the company (hereinafter referred to as 'Association') is "UNITED CYCLE & PARTS MANUFACTURERS ASSOCIATION".

2. The Registered Office of the Association shall be situated in the state of Punjab in India.

3. The objects for which the Association is established are as under.

1. To devise ways and means for Improvement of the Cycle Industry & to safeguard the common interests of the members & Industry.

2. To procure Iron and Steel, Raw Material, Stores & Machinery whether imported or indigenous connected with Cycle Industry for the Association and further distribution amongst the members.

3. To establish just & equitable principals in trade and impose restrictive conditions on the conduct of industry & business connected with Indian Cycle Parts.

4. To urge or oppose legislative & other measures and to procure change of law & practice affecting  trade, commerce & Industries in Indian in general & Cycle Industry in particular.

5. To subscribe to any funds and collections meant to promote objects similar to those of the Association.

6. To start organisations for the sale of the Cycle and Parts manufacturing Factories and establish markets, syndicates or Boards with such powers as may be deemed fit.

7. To Arbitrate in the settlement of disputes arising out of Commercial Transactions between members agreeing to abide by the judgement and decision of the tribunal of the Association Verdict of such tribunal shall be final and binding on the members of the Association.

8. The prosecution or defence of any legal proceeding to which the association or any member thereof is a party when such prosecution of defence is undertaken for the purpose of securing or protecting any right of the Association as such or any rights arising out of the relations of any member with his employees.

  9. To conduct trade disputes on behalf of the association or member thereof.

10. To do all such acts connected with the trade, commerce and industry and to initiate or support necessary action in connection therewith.

11. The upkeep of a periodical published mainly for the purpose of discussing questions affecting employees or workmen as such.

12. To publish joint Catalogues, Magazines, Journals and Reports of Cycle goods manufacturers to be circulated in India and abroad or do such propaganda through press or otherwise for making goods produced by members popular.

13. To enforce standardisation of Cycle and Cycle Parts amongst members and encourage stamping with approval seal of Association on goods passing the test of quality as far as possible.

14. To diffuse technical knowledge and 'Know How' related to Cycle Industry. Also to open a library for the members for the guidance of technical knowledge and for improvement of quality & efficiency in production.

15. To encourage co-ordination amongst its various members in their production programme.

16. To collect statistics and data from its various members regarding machinery labour, production and sales etc.

17. To devise ways & means for encouraging its members for assembling complete Cycle & arrange for all facilities from the Government.

18. The payment of salaries, allowances and expenses to officers to the association.

19. The payment of expenses for the administration of the association including audit of the accounts of the general funds of the association.

20. The payment in furtherance of any of the objects on which the general funds of the association may be spent or contribution to any cause intended to benefit members in general provided that the expenditure in respect of such contributions in any financial year shall not at any time during that year be in excess of one fourth of the combined total of the gross income which had up-to that time accrued to the general funds of the association during that year and of the balance at the credit of these funds at the commencement of that year.

21. To encourage habit of thrift by encouraging its members to form co-operative societies for uplift of industries.

22. To devise ways & means to encourage export of Cycle and Cycle parts by its members.

23. To make representation to Municipal District, State or Central Authorities Executive as well as Legislative, on any matters affecting trade and industry.

24. To secure representation on committees and commission of Government or otherwise set up to consider question affecting the interest of trade and industry.

25. To acquire by purchase, take on lease or otherwise and building and all other property moveable and immoveable, which the association for purposes there of may from time to time think proper.

26. To sell, improve, manage, develop, exchange, lease or let under lease, sublet mortgage, dispose of, turn to account or otherwise deal with all or any part of the property of the association.

27. To  construct upon any premises acquired for the purpose of the association and to alter, add or to remove any building upon such premises.

28. To acquire property for the purpose of the association and in the name of the association & to dispose of the same.

29. To invest surplus funds of the association in such a manner and upon such terms as may be deemed fit.

30. To invest advance & deal with the money of the association not immediately required in any manner.

31. To open, operate upon, transfer, close, account with any Bank or Banks for or on behalf of & in the name of the association and also to make, draw & execute bills of exchange and other negotiable instruments.

32. To draw, make, accept, enforce, discount, execute & issue promissory notes, bills of exchange, bill of lading, warrants, debentures and other negotiable or transferable instruments.

33. To make arrangement on individual or co-operative basis for financial assistance to the members as far as possible.

34. To do all such other lawful things as are incidental or conductive to the attainment of the above objects provided that the association shall not support with its funds, or endeavour to impose on, or procure to be observed, by its members or other, any regulation or restriction which, if an object of the association would make it a trade union.