CHARTERED ACCOUNTANTS ASSOCIATION OF ERODE

MEMORANDUM
I. NAME OF THE ASSOCIATION :The Name of the Association shall be CHARTERED
ACCOUNTANTS ASSOCIATION OF ERODE .
II. AIMS AND OBJECTIVES :The Objects for which the Association is established are:
1. To promote better understanding among the members of the
profession by conducting regular meetings.
2. To promote unity among the members of profession and foster
their welfare.
3. To maintain a library and reading room for the use of members.
4. To publish necessary literature and periodicals which are of
professional importance to the members.
5. For dissemination of knowledge to members conduct seminars,
study circle meetings and refresher courses to the members.
6. For educating the public on Direct and indirect taxes by
conducting lecture meetings, seminars, symposiums and other
social and educational projects.
7. Any other activity or object, conducive to the furtherance of the
objects of the Association from time to time.
8. For the achievement of the above objectives the Association
shall have the authority to raise funds by way of subscriptions
and entrance fees from members and donations from members
and public, to incur expenditure, to buy, sell and possess
movable and immovable properties, to establish centres and to
affiliate itself with other association having similar objectives.
9. In attaining the above objectives the rules and regulations of the
Association as set forth in the accompanied Bye-laws shall
govern.
The names, addresses and designations of the person described
hereunder are the signatories to the Memorandum of Association.
We, the several persons whose names are subscribed below are
desirous of forming into an Association in pursuance of this
Memorandum of Association and have it registered under the
Tamil Nadu Societies Registration Act, 1975 (ACT XXVII of
1975)
RULES AND REGULATIONS :1. The Name of the Association shall be CHARTERED
ACCOUNTANTS ASSOCIATION OF ERODE.
2. The Registered Office shall be at 1225, Mettur Road, Erode 638
001.

3. The date of formation of the Association shall be 12.08.1996.

4. The Registered Office of the Association shalll be within the
jurisdiction of the Registrar of Societies, Erode.
5. The business hours of the Association shall be 10 A.M. to 1 P.M.
and 3 P.M. to 6 P.M.
6. The Secretary shall on behalf of the Assocation institute or
defend all legal proceedings.
7. The president of the Association shall give directions to the
Secretary or Joint-Secretary for the prooper administration of the
Association.
8. ENROLEMENT OF MEMBERS :i)

ACTIVE MEMBER:
All CHARTERED ACCOUNTANTS who are member of the
Erode Branch of the Institute of Charted Accountants of
India are eligible to become members of this association.

ii)

HONORARY MEMBER :
Any person who is a member of the Institute of Chartered
Accountants of India and whom the Managing Committee
feels that it will be in the interest of the Association to
have him as a member admit him as an Honorary Member.
Such honorary member need not pay subscription or
entrance fees and he shall have no right to vote.

iii)

Any person who opts to become a member shall forward an

application in writing to ther secretary and remit the
entrance fees and annual subscription.

iv)

The Managing Committee shall have the power to reject

any such application without assigning any reason

v)

Every member shall pay an entrance fee of Rs.500/- or

more as may be decided by the Managing Committee from
time to time.

vi)

Every member shall pay an annual subscription of Rs.100/or more as may be decided by the Managing Committee
from time to time.

vii)

The annual subscription shall be payable in advance on 1 s t

July and paid on or before 30 t h September of every year.

viii)

If a member fails to pay hi/her subscription within the last

date specified above, their names shall be removed from
the Register of members

ix)

The defaulted members whose names were removed due to

non-payment of subscription may be admitted with the
approval of the Managing Committee.

9. If any member or any office bearer, in the opinion of the

Managing Committee is found to act in violation of the objects,
Rules and Regulations of the Association, the Managing

Committee can demand their resignation of the membership from

the Association. If such member fails to resign within a week,
the Managing Committee, with three fourths majority in a
General Body Meeting can remove them from the membership.
10.

i. The membership of the Association is not transferable.

ii. The Association shall maintain a Register of members wherein
the names and addresses of the members shall be recorded.
iii. Every member is entitled to one vote only.
iv. All the members who are not in arrears of subscription are
eligible to become a member of the Managing Committee.

11. i. The Association shall be managed by a Managing Committee

consisting of a President, Vice-President, Secretary, JointSecretary, Treasurer and ten committee Members. The first
Managing Committee members shall be the person who are
subscribers to the Memorandum. At the first annual general
meeting of the Association and in every subsequent Annual
general meeting one third of the members of the managing
committee shall retired by rotation. The members to retire by
rotation at every Annual General Meeting shall be those who
have been longest in office since their last appointment. But as
between persons who become members on the same day those
who are to retire shall, in default of and subject to any
agreement among themselves be determined by lot. The retiring
committee members shall be eligible for re-election. The number
of members of the Managing Committee shall not be less than 10
not more than 15.
ii. The Managing Committee shall meet at least once in every 3
calendar months to discuss the working of the Association.
iii. The notice of the meeting of the Managing Committee shall
be given before 7 days from the date of holding the meeting.
iv. The quorum for the meeting of the Managing Committee
shall be one-third of the total members of the Managing
Committee.
v. Any member of the Managing Committee who absents
himself/ herself from attending three consecutive meeting of the
Managing Committee without leave of absence shall cease to be
a member of the Managing Committee.
vi. Any causal vacancy that arises in the Managing Committee
shall be filled up by the committee itself. Such member shall
hold office only upto the date to which the committee member in
whose place he is appointed would have held the office.
vii. The members shall present themselves at the meeting within
half an hour from the time specified. If the quorum is not found
within the time, then the meeting shall stand adjourned to the
same day of the following week at the same time. The members
present at such adjourned meeting, whatever their member,
shall from the quorum and shall have the power to transact all
the business, which could properly have been transacted at the
original meeting, if the necessary quorum had been present.
vii. The Secretary shall maintain a minute book to record the

proceedings of the meetings of the Managing Committee and

General Body.
12.

The Secretary of the Association shall prepare and file with

the concerned Registrar, such records, annual or other statements
which are specified in the Tamil Nadu Societies Registration Act
and Rules.

13.

The Association shall cause its accounts to be audited by an

auditor qualified under section 16 of the Tamil Nadu Societies
Registration Act, 1975 read with rule 21 of the Tamilnadu
Societies Registration Rules 1978. Once in a year and the annual
Balance Sheet together with the Auditors Report shall be
considered in the annual general meeting. His remuneration shall
be fixed by the general body from time to time. Such auditor
should not be a member of the Managing Committee.

14.

Copies of the Rules and Regulations, Memorandum can be

had by any member from the Association on payment of Rs.1/per copy as per Rule 23 of the Tamilnadu Societies Registration
Rule 1978.

15.

APPLICATION OF FUNDS :

a. The Treasurer shall have charge of all funds belonging to the

Association and his receipt shall be a discharge for all funds
payable to the Association. The Treasurer shall make all
disbursements authorised by the committee and cause true accounts
to be kept of sums of money received and expended on behalf of the
Association and the matters in respect of which such receipts and
expenditure take place, and of the assets, credits and liabilities of
the Association.
b. Bank accounts shall be opened with any Nationalised/
Scheduled Banks and such bank transactions shall be operated by
the Treasurer jointing with either the president or secretary, of the
Association. The Treasurer cannot retain cash exceeding Rs.1000/-.
c. The funds shall be utilised for the objectives of the
Association without any profit motive, no funds or assets or
properties shall be distributed among the members or divided among
themselves at any time.
16.

INVESTMENTS :
Investments of funds of Trust shall be in accordance with the
provisions of section 13(1)(d) read with Section 11(5) of the
Income tax Act, 1961 and shall be in accordance with any
amendments to the sections and conditions set thereto at any
time in the future.

17.

a. PRESIDENT:The president shall preside over all the meetings of the

Association, supervise all the activities of the Association and
give directions to the secretary, Joint Secretary and Treasurer
for the proper administration of the Association.

b. VICE-PRESIDENT:-

In the absence of the president, Vice-president shall look

after his duties..
c. SECRETARY:The Secretary shall be incharge of the day-to-day
administration for the Association and shall from time to time
take advice or seek direction from the president or the vicepresident. The Secretary in consultation with the president or
in his absence the vice-president convene the meeting of the
Managing Committee from time to time and the general
meeting and shall keep regular minutes of all meetings and
shall be responsible for administration of the affairs of the
Association. All employees working in the Association shall
be under the subordinated control of the secretary.
d. JOINT-SECRETARY:The Joint-Secretary will generally assist the secretary and will
perform the duties of the secretary when the secretary is
absent.
18.

The year of the Association shall be the financial year (i.e.

first
April to 31 s t March of next calender year).

19.a. The annual General meeting of the Association shall be held

in every year on or before the 30 t h September of every year for
transacting the following business by passing ordinary
resolutions:i.

ii.
iii.

The consider the accounts, Balance Sheet, Report of the

Managing Committee, Report of the auditor, to elect
members of the Managing Committee in the place of the
members who retire by rotation for the next year, the
approve the budget for the coming year and to appoint
auditor and fix this remuneration.
All other businesses shall be treated as special business
and shall be passed by special resolution with three fourths
majority of the members present in the meeting.
All other businesses shall be treated as special business
and shall be passed by special resolution with three fourths
majority of the members present in the meeting.
The following business shall be included as special
business:
i)
ii)
iii)
iv)

to amend the Memorandum and Rules and

Regulation.
To expel a member from the Association.
To purchase and sale immovable properties of the
Association.
To increase the annual subscription or entrance fees.

20. Atleast 21 days clear notice shall be given for every annual or
Extra-ordinary General Meetings to all the members, setting
forth in the said notice the time, the date, the place and the
agenda of the business to be transacted in such meetings.

21.The quorum for the General Meeting shall be Ten or One-third of

the total number of members whichever is less. If the quorum is
not present within half an hour from the time fixed for the
meeting, it shall stand adjourned to the same day of the
following week at the same time on which day the meeting can
be proceeded with even though there is no adequate quorum.
The rules as to quorum shall not apply to such adjourned
meetings.
22. Extra-ordinary General Meetings shall be convened on
requisition by one fourth of the members on the roll. It shall be
called within 15 days from the date of receipt of their
requisition. On the failure of the Secretary in convening a
meeting, the requisitionists themselves can convene such as
meeting so as to bind the Managing Committee. In such
requisitioned meeting only the subjects mentioned in the
requisition letter can be transacted.
23. The members of the Association can inspect the Register of
members, the books containing members and the books of the
accounts at the Registered Office during business hours.
24. In gthe event of this Association being dissolved all the assets
and properties left after satisfying its liabilities and debts if
any, shall be transferred to any other similar Association having
the same objects.
Certified that the above Rules and Regulations are true copy
of the Rules and Regulations of CHARTERED ACCOUNTS
ASSOCIATION OF ERODE .