The Arab Chamber of Commerce & Industry

中文

اللغة العربية

Memorandum of Association

The name of the Society is: The Arab Chamber of Commerce & Industry

The registered office of the Society is situated in the Central District of the Hong Kong SAR.

The objects for which the Society is established are:

To inform, promote, represent and safeguard the interests of the trade, business, commerce, agriculture, industries, manufactures and cultural public welfare in the Arab World and Hong Kong/Greater China, adopting such means of making known the trade, business, commerce, agriculture, industries, manufactures and cultural public welfare between the Arab World and Hong Kong/Greater China by all means as may seem expedient and in particular through advertising in the Arab World and Hong Kong/Greater China or elsewhere, by services, events, exhibitions and through publication of books and periodicals, circulars or otherwise.

To consider, discuss, promote, support, or oppose and take action on issues directly or indirectly relating to or affecting such trade, business, commerce, agriculture, industries and manufactures or cultural public welfare and to collect and disseminate statistical and other information concerning the same and to promote, approve or oppose legislation and other measures affecting trade, business, commerce, agriculture, industries, manufactures and cultural public welfare of the members of the Companies in the Arab World and Hong Kong/Greater China aforesaid.

To retain or employ professional or skilled persons in connection with the objects of the Society and such clerical and working assistants as may be objects of the Society and such clerical and working assistants as may be found necessary and to pay for these purposes such fees or remuneration as may be thought expedient.

To purchase, take on lease, or in exchange, hire or otherwise acquire in the Arab World and Hong Kong/Greater China aforesaid any real or personal property and any right or privileges necessary or convenient for the purpose of the Society.

To invest and deal with the moneys which the Society may not immediately require upon such securities and in such investments as may be from time to time determined.

To borrow any money that may be required by the Society upon such terms as may be deemed advisable, and to sell, improve, manage, develop, lease, mortgage, dispose of, turn to account, or otherwise deal with all or any part of the property of the Society for such consideration as the Society may think fit.

To collect, arrange, index and publish information as to materials, patents, processes, machines, appliances and tools likely to be useful to members of the Society, and to establish and maintain a Bureau of Information for the benefit of the Members of the Society.

To establish, promote, co-operate with, receive into union or become a member of, act as, or appoint trustees, agents or delegates for control, manage, superintend, afford financial assistance to, or otherwise assist the scientific and industrial research work of Society’s and institutions and other registered bodies, whose objects are similar to those of the Society and which prohibit by their constitutions the distributing of their income and property amongst their members to an extent at least as great as is imposed on this Society by Clause 4 hereof and to assist such bodies in obtaining any necessary extensions of power for the promotion of these objects.

To undertake and execute any trusts which may be conducive to any of the objects of the Society.

To raise money by assessments levied on the Members of the Society in accordance with the Articles of Association in force for time being.

To apply for and accept grants of money, gifts of property real and personal or other assistance from Government Authorities, Chambers of Commerce, Companies or other Institutions of Associations or from private individuals.

To establish and support aid in the establishment and support of associations, institutions, funds, trusts and conveniences calculates to benefit employees or ex-employees of the Society, or dependents and connections of such persons, to grant pensions and allowances to and to make payments towards the insurance of such persons.

To elect as Honorary Members any persons distinguished in statesmanship, diplomacy, commerce or finance and whose co-operation and assistance has advanced or may be thought likely to advance the objects of the Society.

To pay all expenses, preliminary or incidental to the formation of the Society and its registration.

To make by-laws, rules and regulations as may from time to time be necessary for carrying out the above objects and for the proper administration of the objects of the Society.

To act as Facilitators, Mediators and, Arbitrators or set up mechanisms for such in commercial disputes or other.

To do all such other lawful things as are incidental or conducive to the attainment of the above objects or any of them. Provided that the Society shall not support with its funds any objects or endeavor to impose on or procure to be observed by its Members or others any regulations, restriction or condition which if any object of the Society would make it a Trade Union.

The income and property of the Society, whosoever derived, shall be applied solely towards the promotion of the objects of the Society as set forth in this Memorandum of Society: and no portion therefore shall be paid or transferred directly or indirectly, by way of dividend bonus or otherwise howsoever by way of profit to the Members of the Society. Provided that nothing here shall prevent, in good faith, of reasonable and proper remuneration to any officer or servant of the Society or to any Member or Director of the Society in return for any services actually rendered to the Society, nor prevent the payment of interest at a rate not exceeding the then current maximum lending rate of the Commercial Banks operating in Hong Kong/Greater China on money lent on reasonable and proper rent for premises demised or let by any Member or Director to the Society.

No addition, alteration or amendment shall be made to or in the regulations contained in the Articles of Association for the being in force, unless the same shall have been previously submitted and approved by the Society in the General Meeting.

The liability of the Members is limited.

Every subscribing Member of the Society undertakes to contribute to the assets of the Society in the event of the same wound up during the time that he is a Member, or within one year afterwards, for payment of the debts and liabilities of the Society contracted before the time at which he ceases to be a Member, and of the costs, charges, and expenses of winding up of the same, and for the adjustment of the rights of the contributors amongst themselves such amount as may be required not exceeding One Dollar.

If upon the winding up or dissolution of the Society there remains after the satisfaction of all its debts and liabilities, any property whatsoever, the same shall not be paid to or distributed among the Members of the Society, but shall be given or transferred to some other institution or institutions, having objects similar to the objects of the Society and which shall prohibit the distribution of its or their income and property among its or their Members to an extent at lease as great as is imposed on the Society under or by virtue of Clause 4 hereof, such institution or institutions to be determined by the Council of the Society at or before the time of dissolution or in default thereof by such Judge of the Upper Court as may have or acquire jurisdiction in the matter and if so far as effect cannot be given to the aforesaid provision then to some charitable object.

The Society may apply to the Administrator of the Hong Kong SAR pursuant to Chapter 151 of the Societies Ordinance of licenses under his/her hand and the Public Seal of the Hong Kong SAR allowing registration with limited liability without addition to the word Limited and such their rights and privileges as therein provided and such license if granted will be endorsed upon this Memorandum of Association.

Within the limits laid down by law and in these Articles, in the event of any inconsistency between the Memorandum and the Articles, the Memorandum usually prevails; the General Meeting Chairman shall have all powers not conferred upon the Officers or on others.