Amendment status not verified — confirm the current text below against the official source.
(1) Thr ee copies of the Mem oran du m of Asso cia tion after being duly signed in the meeting as requ ired un de r sub-section (2) of Section 3 shall be forw arded by the State Go vernment’s representative present in the meeting to the Controller. (2) The Co ntroller may return the Mem orandum of Association to the sender for such corrections or clari fications or modifications as he may deem necessary. 4 (3) The controller shall, after satisfying him self th at th e Mem oran du m of Association is in orde r and meets the re qu irem en t of this Ac t and rules made thereu nd er and th at the State Go vernment is willin g an d ready to pa rticipa te in the pro posed Corporatio n, reg ister the Mem oran du m an d in token thereo f make necessary endorse ment on the bo dy of all the three copies of the Mem orandum. (4) On reg istering the Mem oran du m the Co ntroller shall also issue un de r his ha nd an d seal a certificate to this effect an d send the certificate together with one ori ginal copy of the Mem oran du m to the State Governm ent’s representativ e from whom these were received by him . Effect of 5.(1) On an d from the da te when the Mem orandum Registration. o f Association is reg istered an d a certificate to this effect is issued by the Co ntroller th e Co rporation shall be duly- constituted an d will be known by a distinct nam e, as ap prov ed by the Co ntroller. (2) From such da te as referred to in sub-section (1) the Corporatio n will be a body corporate having pe rpe tual succession an d a comm on seal an d shall, subject to any restrictions or conditions as may be prescribed un de r this Act or any othe r en ac tm en t in force, have power to ho ld an d dispose of prop erty and to contract, an d shall by the said name, sue or be sued an d do all othe r things necessary for the purpose of this Act. dat^ofAsso- 6- (1) Every Co rporation shall have a Mem orandum of ciation. Association, containing its objectives, reg ula tions an d pro cedures an d such other matters, as may be pre scribed. A Mem oran du m will have the force of law on all mem bers of the relevant Co rporation. (2) A Mem oran du m may be altered only in the manner prescribed an d every such alteratio n shall be duly regis tered in the man ne r prescribed with the Co ntroller and will no t tak e effect un til it is so registered. Share ai^ a p '-