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CORPORATIONS LAW A COMPANY LIMITED BY GUARANTEE

MEMORANDUM OF ASSOCIATION

MONTENEGRIN ETHNIC ASSOCIATION OF AUSTRALIA

1) The name of the Company is MONTENEGRIN ETHNIC ASSOCIATION OF AUSTRALIA (hereinafter called the “Company”).

2) The objectives for which the Company is established are set out hereunder:

a)

·            To bring together migrants of Montenegrin origin regardless of their religion.

·            To maintain Montenegrin multiculturalism, inter-ethnic tolerance, tradition, language and customs within democratic laws and institutions of Australia.

·            To promote the truth of Montenegrin history, church, cultural heritage and natural resources.

·            To network closely with those who respect Montenegrin national identity and Montenegrin souveregnity.

·            To assist in the settlement of migrants particularly of Montenegrin origin in Australia.

·            To establish co-operation with other ethnic communities of Australia and fully contribute to the Australian multiculturalism.

Solely for the purpose of carrying out aforesaid objectives and not otherwise:
b) To solicit, collect, receive and take gifts, grants, devises or bequests, money, funds and real or personal property for the purpose of establishing and maintaining a public benevolent fund.
c) To hold or arrange competitions and provide or contribute towards the provision of prizes, awards and distinctions in connection therewith.
PROVIDED that no member of the Company shall receive any prize, award or distinction of monetary value except as a successful competitor at an competition held or promoted by the Company.
d) To subscribe to, become a member of and co-operate with or amalgamate with any other association or organisation, whether incorporated or not, whose objectives are similar to those of the Company.
PROVIDED that the Company shall not subscribe to or support with its funds or amalgamate with an association or organisation which does not prohibit the distribution of its income and property among its members to an extent at least as great as that imposed on the Company under or by virtue of Clause 3 of this memorandum, and PROVIDED also that no such distribution is made to any institution or body not being institutions or bodies referred to in Section 78 (1)(a) of the Income Tax Assessment Act, 1936 as amended and the registered Charitable Collections Act, 1934.
e) To buy, sell and deal in all kinds of properties and all kinds of provisions, liquid and solid, required by the members of the Company or persons using the Company’s premises.
f) To purchase, take on lease or in exchange, hire and otherwise acquire any lands, building, easements or property, real and person, and any rights or privileges which may be requisite for the purposes of, or capable of being conveniently used in connection with, any of the objects of the Company.
PROVIDED that in case the Company shall take or hold any property which may be subject to any trusts the Company shall only deal with the same in such manner as is allowed by law having regard to such trusts.
g) To enter into any arrangements with any Government or authority, supreme, municipal, local or otherwise in Australia, that may seem conducive to the Company’s objects or any of them and to obtain from any such Government or authority any rights, privileges and concessions which the Company may think it desirable to obtain; and to carry out exercise and comply with any such arrangements, rights, privileges and concessions.
h) To invest and deal with the money of the Company not immediately required in such manner as may be permitted by law for the investment of trust funds. This shall be the responsibility of the Board of Trustees.
i) To take any gift of property whether subject to any special trust or not, for any one or more of the objects of the Company but subject always to the provision in paragraph (f) of this clause 2.
j) To take such steps by personal or written appeals public meetings or otherwise, as may from time to time be deemed expedient for the purpose of obtaining contributions to the funds of the Company, in the shape of donations, annual subscriptions or otherwise.
k) To print and publish any newspapers, periodical, books or leaflets, and research papers that the Company may think desirable for the promotion of its objects.
l) To make donations for just or charitable causes.
m) To borrow/mortgage of properties in furtherance of the objects of the Company.
3) The income and property of the Company, whencesoever derived, shall be applied solely towards the promotion of the objectives of the Company as set forth in this memorandum of association and no portion thereof shall be paid or transferred, directly, or indirectly, by way of dividend, bonus or otherwise, to the members of the Company.

4) No addition, alteration or amendment shall be made to or in the memorandum or articles of association for the time being in force, unless the same shall have been previously submitted to and approved by the Australian Securities Commission and the Consumer Affairs and any such addition shall be notified to the Minister administering the Charitable Collections Act 1934 and such addition, alteration or amendment shall not be effective unless the Minister has signified his approval to such alteration being made. Any such alteration requires two third majority of the members present at any meeting.

5) The liability of the members is limited by guarantee and each member undertakes to contribute to the company’s property if the Company is wound up. While, he or she is a member or within one year after he or she ceases to be a member, for payment of the company’s debts and liabilities contracted before he or she ceases to be a member and of the costs, changes and expenses of winding up and for adjustment of the rights of the contributors among themselves, such amount as may be required not exceeding $100.

6) If upon the winding-up or dissolution of the Company there remains, after satisfaction of all its debts and liabilities, any property whatsoever, the same shall not be paid to or distributed among the members of the Company, but shall be given or transferred to some other institution or institutions having objects similar to the objects of the Company and being a registered or exempt charity under the Charitable Collections Act 1934,and whose memorandum of association or constitution shall prohibit the distribution of its or their income and property among its or their members to an extent at least as great as is imposed on the Company under or by virtue of clause 3 hereof, such institution or institutions to be determined by the members of the Company at or before the time of the dissolution and in default thereof by application to the Supreme Court for determination PROVIDED that where the Company has received funds by way of grant from any State or Commonwealth Authority and at the time of any winding up or dissolution shall be refunded to such State or Commonwealth Authority.

7) True accounts shall be kept of the sums of money received and expended by the Company, and the matter in respect of which such receipt and expenditure takes place, and of the property, credits and liabilities of the Company and, subject to any reasonable restrictions as to the time and manner of inspecting the same that may be imposed in accordance with the article of association for the time being in force shall be open to the inspection of the members. Once at least in every year, the accounts of Company shall be examined by one or more properly qualified Auditor or Auditors who shall report to the members in accordance with the provisions of the Corporations Law.

8) Where funds have been received by the Company by way of grant from any State or Commonwealth Authority for a specific project and it is resolved that such specific project should be abandoned or ceased then the Company shall forthwith upon the making of such resolution refund such unexpended grant moneys in full to such State or Commonwealth Authority unless otherwise permitted by such State or Commonwealth Authority.

9) Where grant moneys have been received by a Company from any State or Commonwealth Authority for the purpose of purchasing capital items and such items are later sold by the Company the proceeds of such sale shall be refunded to such Commonwealth or State Authority unless otherwise permitted by such State or Commonwealth Authority.

 





 

    
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