TEXT.txt.doc - BOSITEL INVESTMENTS(REGISTERED UNDER BUSINESS ACT CAP 486 COMPANY CONSTITUTION 1 NAME The name of the Company shall be Bositel Investment

TEXT.txt.doc - BOSITEL INVESTMENTS(REGISTERED UNDER...

This preview shows page 1 - 5 out of 20 pages.

BOSITEL INVESTMENTS (REGISTERED UNDER BUSINESS ACT. CAP 486) COMPANY CONSTITUTION 1. NAME The name of the Company shall be Bositel Investment Limited ...... (In this constitution referred to as "the Company"). 2. OBJECTIVES (a) To improve the welfare of the Company members. (b) To carry out any legal business activity to make profit. (c) To create job opportunities through investments 3. MEMBERSHIP (a) Any person over the age of eighteen years shall be eligible for membership of 1 | P a g e Bositel Investments Group Constitution
Image of page 1

Subscribe to view the full document.

the Company and shall, subject to the approval of the committee/ Company members, become a member upon payment of Non refundable entrance fee of Kshs 1,000 (b) Every member shall pay a monthly contribution of Kshs 5,000 not later than the 15th day of each month. Members have a right to vary this amount subject to approval of not less than two third majority in a general meeting. Late payment will attract a penalty of 10% of the monthly contribution amount and members have a right to waive or suspend the penalty. (c) Any member desiring to resign from the Company shall submit his/her intention to do so, in writing, stating grounds for resignation to the secretary and shall take effect upon Approval by Members in a general meeting or at the expiry of 60 days from the date of receipt by the secretary of such notice if no meeting is held. (d) Any member may be expelled from membership if the committee so recommends and if a general meeting of the Members shall resolve by a two-third majority, that such a member should be 2 | P a g e Bositel Investments Group Constitution
Image of page 2
expelled on the grounds that his conduct has adversely affected the reputation or dignity of the Company, or that he has contravened any of the provisions of the constitution of the Company. The committee shall have powers to suspend a member from the Company until the next general meeting of the Company following such suspension but notwithstanding such suspension a member whose expulsion is proposed shall have the right to address the general meeting at which his expulsions will be considered. (e) Any person who resigns or is expelled from the Company membership shall be entitled to: o A maximum refund of 70% of his/her subscription or any part thereof or any money contributed by him/her at any time other than entrance fee. o A portion of Company’s quantifiable gains after valuation or business Profit / proceeds subject to discussions and agreement by two third of the other members. (f) Any member who falls into arrears, without a justifiable reason, with his 3 | P a g e Bositel Investments Group Constitution
Image of page 3

Subscribe to view the full document.

monthly and or any other contributions for more than three months shall automatically cease to be a member of the Company and his name shall be struck off the register of members. The committee may, however, at its discretion, reinstate such a member upon payment of the total amount outstanding plus penalty if any.
Image of page 4
Image of page 5
  • Spring '18
  • ASTON
  • English, It, Parliamentary procedure, Bositel Investments Group, Investments Group Constitution

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Ask Expert Tutors You can ask 0 bonus questions You can ask 0 questions (0 expire soon) You can ask 0 questions (will expire )
Answers in as fast as 15 minutes