Memorandum And Articles Of Association Of A Tourism Company Template for Pakistan

The Memorandum and Articles of Association of a Tourism Company is a mandatory legal document required when establishing a tourism company in Pakistan. This document is essential for registration with the Securities and Exchange Commission of Pakistan (SECP) and must comply with the Companies Act 2017 along with specific tourism sector regulations. It is used to define the company's scope of tourism activities, internal governance structure, and relationships with stakeholders. The document typically includes detailed provisions for tourism operations, licensing requirements, foreign exchange handling, and specific operational guidelines relevant to the tourism industry. It serves as the foundation for all corporate actions and decisions, protecting stakeholder interests while ensuring regulatory compliance in Pakistan's tourism sector.

1. Company Name Clause: States the registered name of the tourism company as approved by SECP

2. Registered Office Clause: Specifies the location of the registered office in Pakistan

3. Objects Clause: Detailed list of tourism-related business activities and other permissible business operations

4. Limited Liability Clause: Declaration of the limited liability nature of shareholders

5. Capital Clause: Details of authorized share capital, types of shares, and nominal value

6. Association Clause: Statement of members' desire to form a company and subscribe to shares

7. Definitions and Interpretation: Key terms used throughout the document, including tourism-specific terminology

8. Share Capital and Variation of Rights: Provisions regarding share types, rights, transfers, and certificates

9. General Meetings: Rules for conducting shareholders' meetings, voting procedures

10. Board of Directors: Composition, appointment, removal, and powers of directors

11. Management Structure: Organizational hierarchy and management roles specific to tourism operations

12. Business Operations: Provisions governing tourism activities, licenses, and operational procedures

13. Financial Management: Rules for accounts, audits, and financial controls

14. Seal: Provisions regarding the company seal and its use