Thursday, September 9, 2010

DRAFT DEED (for the well being of the media persons of Pakistan, input from any person, for improvement / addition / deletion etc would be welcome)

DRAFT DEED

(for the well being of the media persons of Pakistan, input from any person, for improvement / addition / deletion etc would be welcome)

THIS DEED OF TRUST IS MADE AT ISLAMABAD THIS ------------------------ day of -------------------------------- by Secretary General, Pakistan Federal Union of Journalists, (PFUJ), Islamabad, Mr. Shamsul Islam Naz, son of ---------------------------------------------, resident of ----------------------------------------------------------------------------------------, and -------------------------------------------------------------------------------------------------, son of ----------------------------------------------------------------------------------------------, resident of ------------------------------------------------------------------------------------------, hereinafter referred to as the authors of the Trust for the objects as described hereinafter.

AND WHEREAS the beneficiaries of the Trust shall be the members of the Pakistan Federal Union of Journalists (PFUJ), who have contributed funds to the Journalists Welfare Trust, hereby constituted and such other journalist as may, for reasons to be recorded in writing, be approved by the Board of Trustees for the grant of assistance from the Journalists Welfare Trust funds.

AND WHEREAS the governing body of the Trust shall be the Board of Trustees.

I. NAME AND HEAD OFFICE OF THE TRUST:

i. The Trust shall be called the “Journalists Welfare Trust”, hereinafter referred to as the Trust.

ii. The Head Office of the Trust shall be located at Pakistan Federal Union of Journalists (PFUJ), office House 12, Nazimuddin Road, F – 6/2, Islamabad,Pakistan.

II. OBJECTS OF THE TRUST:

1. To provide financial support and assistance to the families of the journalists in the event of their death;

2. To provide financial support and medical assistance to the families of the journalists in the event of their being rendered incapacitated, whether temporarily or permanently, to discharge their professional duties;

3. To provide financial support and medical assistance to journalists for treatment in the event of accident, illness or disease provided their employers do not extend medical cover;

4. To provide group insurance for journalists not already covered by group insurance;

5. To make such special grants for welfare to journalists and their families as are deemed appropriate by the Board of Trustees;

6. Generally to work for the welfare of journalists and their families;

7. The objects set forth in any sub-clause of this clause shall not, except where the context so requires, be in any way limited or restricted by reference to the terms of any other sub-clauses or the objects therein specified and the power thereby conferred shall be deemed subsidiary to the objects mentioned in the sixth sub-clause of this clause.

III. BENEFICIARIES:

All journalists who are members of the Pakistan Federal Union of Journalists (PFUJ) shall be entitled to bene4fit from this Trust upon subscription to the objective of the Trust and payment of the annual contribution to the Trust:

Provided that, for reasons to be recorded in writing, the Board of Trustees, may approve grant of assistance to journalists who are not members of the Pakistan Federal Union of Journalists (PFUJ) and also to such members ofthe Pakistan Federal Union of Journalists (PFUJ) as have not paid theirannual contribution to the Trust.

IV. REGISTER OF JOURNALISTS:

The Trust shall maintain a register in which shall be entered the names and addresses of all journalists of the Pakistan Federal Union of Journalists (PFUJ) making contribution to the Trust funds as also particulars of theannual contributions made by them.

V. BOARD OF TRUSTEES:

1. The governing body of ht Trust shall be the Board of Trustees. Subject to law and this Deed of Trust, the control and management of the Trust shall vest in the Board of Trustees, herein also referred to as the Board.

2. The Board of Trustees shall consist of seventeen members or such higher numbers as may be determined by the Board of Trustees: Provided that the first Board of Trustees shall consist of twelve members only till such time as a President of the Pakistan Federal Union of Journalists (PFUJ) is elected after every year, who by virture of being the Pakistan Federal Union of Journalists (PFUJ) President, is one of the authors of this Trust and permanent member, along with other authors of the Deed, of the Board of Trustees.

3. There shall be chairman, a co-coordinating secretary, and a secretary / treasurer of Board.

4. The Board of Trustees shall comprise:

i. A retired judge of the Supreme Court of Pakistan or a High Court, who shall be the chairman.

ii. A veteran journalist.

iii. The President, Pakistan Federal Union of Journalists (PFUJ), or his nominee.

iv. Two senior journalists, to be nominated by the outgoing Board of Trustees from amongst the recommendations of the Pakistan Federal Union of Journalists (PFUJ) and the Executive Council of the Pakistan Federal Union of Journalists (PFUJ).

v. The President, Pakistan Federal Union of Journalists (PFUJ).

vi. The General Secretary, Pakistan Federal Union of Journalists (PFUJ).

vii. A representative of the Newspaper Industry, to be nominated by the out-going Board of Trustees.

viii. A permanent businessman, to be nominated by the out-going Board of Trustees: President of the Islamabad Stock Exchange or his nominee.

ix. A representative of the human rights organizations, to be nominated by the incoming Board of Trustees.

x. An advocate, to be nominated by the incoming Board of Trustees.

xi. A prominent chartered accountant.

xii. President of the Islamabad Stock Exchange.

5. The first Board of Trustees shall comprise the following:

i. ------------------------------------------------------------------------

ii. ------------------------------------------------------------------------

iii. ------------------------------------------------------------------------

iv. ------------------------------------------------------------------------

v. ------------------------------------------------------------------------

vi. ------------------------------------------------------------------------

vii. ------------------------------------------------------------------------

viii. ------------------------------------------------------------------------

ix. ------------------------------------------------------------------------

x. ------------------------------------------------------------------------

xi. ------------------------------------------------------------------------

xii. ------------------------------------------------------------------------

xiii. ------------------------------------------------------------------------

xiv. ------------------------------------------------------------------------

xv. ------------------------------------------------------------------------

xvi. ------------------------------------------------------------------------

xvii. ------------------------------------------------------------------------

6. ( i ) ------------------------------, ------------------------------, ------------------------------, ------------------------------, ------------------------------, ------------------------------, and ------------------------------, shall be the permanent trustees.

( ii ) the members of the Board of Trustees at Serial Number ----------, ----------, ----------, ----------, ----------, ----------, ----------, be the ex-officio members of the Board f Trustees.

( iii ) The term of the first Board of Trustees shall expire on --------------------------------------------------------.

7.

(i) At the expiry of the two years, the members of the Board of Trustees, other than the ------------------ permanent members, shall retire, One month before such retirement, the Board of Trustees shall nominate the members for the incoming board.

(ii) There shall be no bar against a retiring trustee being nominated to the Board of Trustees.

8. The Board of Trustees shall have the right to fill in any casual vacancy arising on the Board of Trustees, provided that such vacancy shall be filled in from amongst the category of persons in which the vacancy arises and such trustee shall hold office for the duration of the term of office of Board filling in such casual vacancy.

9. A member of the Board of Trustees shall cease to be a member upon:

i. death;

ii. resignation;

iii. incapacity;

iv. absence from three consecutive meetings of the Board of Trustees, without giving a valid reason in writing;

v. on expulsion by a resolution passed by the Board of trustees for any activity detrimental to the interests of the Trust, provided that a reasonable opportunity is given to the Trustee to explain hisreasonable opportunity is given to the Trustee to explain his position before the resolution for expulsion is considered.

10. The Board of Trustees may constitute and appoint committees for general or specific purposes or authorize the secretary / treasurer or any office or agent to enter into any agreement or execute and deliver any contract in the name and on behalf of the Trust.

11. The Trustees shall have power and authority to appoint or engage and at their discretion remove, dismiss or suspend one or more managers, officers, secretaries, treasures, supervisors, cashiers, accountants, clerks, chowkidars, attendants, servants, and other officials or employees and persons in permanent, temporary or special service in connection with the work of the Trust, Trust Estate, Trust Funds and Trust Properties as they may from time think fit and to determine their powers and duties and fix their salaries in such instance and such amounts as the Trustees may think fit. The Trustees shall also have the power to found and maintain Provident Funds, Gratuity funds, personal and other funds for any employees and make rules and regulations regarding the same.

12. The members of the Board of Trustees shall not claim any remuneration for serving on the Board.

13. The Board of Trustees shall lay down the management, personnel, budgetary and other policies of the Trust and make rules for the conduct of the Board, the Committees and all other matters.

VI. TRUST FUND:

1. The capital of the Trust shall be the sum of Rs. ----------------------------------- (--------------------------------------- lakh) donated, paid and transferred in cash by the ------------------------------------------------------, --------------------------------------------------------------------------------, one of the authors of the Trust, to the first board of Trustees. No payment shall be made out of this seed capital.

2. The Trust shall include the aforesaid seed capital of the Trust and the funds in which the said some of Rs. ------ lacks and subsequent additions thereto as aforesaid have been invested or utilized or converted from time to time and also all accretions and additions thereto, annual and other contributions made by journalists and all gifts, donations, grants, funds and other properties moveable, immoveable, that may be received by or transferred or assigned to the Board of Trustees from time to time by the Authors of theTrust, any Trustee or any another person or institution, and shall include dividend income, rental, donations, bonuses and profits.

3. Only 50 per cent of the annual contributions and receipts of the Trust shall be paid out by way of assistance and the seed capital of the Trust shall remain intact.

VII. CONTROL AND MANAGEMENT OF THE TRUST AND APPLICATION OF THE TRUST FUND:

1. The Trustees shall have the power to receive and accept contributions, gifts, grants, aids, donations and benefactions of all nature and kind whatsoever; to hold plan, cause, establish, organize, conduct, hold or manage and functions or activities in the sphere of fund raising in order to fulfill the objects above mentioned.

2. All cheques, drafts, or other indebtedness in the name of the Trust shall be signed or endorsed by the Chairman and secretary / Treasurer, or by such officers, employee or employees, member or members of the Trust as shall from time be determined by the Board of Trustees.

3. the income and property of the Trust howsoever derived shall be applied solely towards the promotion of the objects of the Trust and no portion thereof shall be paid or transferred directly, by way of dividends, bonus or profit to the members of the Board of Trustees or their relatives, provided that this sub-clause shall not be interpreted to deprive the journalist members of the Board of Trustees or there families from entitlement to the relief / assistance for which this Trust has been constituted and set up.

4. The money validly set apart or not utilized by the Trust when it exceeds 25% of its income or Rs. ----------------------------------- (which ever is less) would be invested in government securities or NIT Units under intimation to the Commissioner.

5. No property of the Trust shall be sold, mortgaged, alienated, transferred or encumbered in any way except when required to alter and improve its investment portfolio.

6. The Board of Trustees shall have the power to invest the Trust Fund or any part thereof in the purchase of such land, buildings, stocks, funds, shares and securities, as it may, in its absolute discretion, deem fit with power to alter, vary and transpose such investment from time to time: provided that no investment shall be made with private persons or individuals.

7. The sources of finance of the Trust shall include:-

i. Annual contribution by the journalists in accordance with clause VIII below;

ii. Donations, bequests and grants received by the trust;

iii. Contributions from other sources acceptable to the Board of Trustees;

iv. Earnings of the Trust which may arise due to holding and management of any fund raising functions or activities;

v. Earnings of the Trust which arise on account of its working;

8. The Board shall have the power to make rules, regulations and bye- law to provide for matters not specifically or sufficiently provided herein.

VIII. CONTRIBUTION BY JOURNALISTS:

1. The annual contribution by individual journalist shall be the payment of one day’s salary by each journalist or Rs. --------------, whichever is more.

2. The annual contribution shall be paid in the month of January every year or as may be determined by the Board of Trustees.

3. Failure to pay the annual contribution shall result in disentitlement to the benefits of the Trust: Provided that this sub-clause shall be subject to Clause III above.

4. The amount of annual contribution may be reviewed and determined from time to time by the Board of Trustees.

IX. SECRETARY / TREASURER:

1. The secretary / Treasurer shall be responsible for the management and administration of the affairs of the Trust.

2. The secretary / Treasurer shall work under the direction of the Board of Trustees, and shall take such steps as are required for the efficient working of the Trust.

3. The secretary / Treasurer shall put up all policy matters to the Board of Trustees.

4. The secretary / Treasurer shall select and employ persons to work for the Trust in accordance with the directions and guidelines laid down by the Board of Trustees from time to time.

X. MEETING OF THE BOARD OF TRUSTEES:

1. The Board of Trustees shall meet whenever requested by the Chairman or Secretary / Treasurer or by not less than one-third of its members after the others have received a minimum of seven days notice, or have waived the condition for notice, whether before or after the meeting. The Board of Trustees shall meet at least once in a quarter to review, discuss and decide, through the standard procedure of majority votes, matters relating to the finances, management and operation of trust placed on the meetingagenda by the Chairman, Secretary / Treasurer or any member, subject to a relevant bye-law to be made by the Board of Trustees in this regard.

2. Seven members, or one-third of the members of the Board of trustees, whichever is greater, shall constitute the quorum for the transaction of any business. IN the absence of a quorum, the meeting may be adjourned till such time as a quorum is obtained.

3. Decisions may be taken by a majority vote of the members of the Board of Trustees present in person.

4. The Chairman shall preside over all meetings of the Board of Trustees. In his absence, the board of Trustees may elect one of its members to chair the meeting. The Chairman of the meeting shall have a casting vote in case of equality of votes.

5. A resolution-in-writing signed by majority of members of the Board of Trustees shall be valid and effective as passed at a duly called meeting of the Board of Trustees.

XI. ACCOUNTS:

1. The Secretary / Treasurer shall cause to be maintained complete records of all transactions, assets and liabilities in accordance with the requirements of the law. The accounting year shall be from 1st January to 31st December.

XII. AUDITORS:

1. The accounts of the Trust shall be audited every year by a chartered accountant or firm of chartered accountants.

2. The Board shall, in the last meeting of the year, appoint auditors of the Trust and fix their remuneration for the next financial year.

3. The first auditor / auditors shall be appointed and their remuneration fixed by the first Board of Trustees.

XIII. INDEMNITY:

The office-bearers, the members of the Board and the functionaries of the Trust shall be indemnified by the Trust against all losses, damages and expanses occasioned by any error of judgment or oversight on their part or an accident happening in the execution of their duties of office. The Trust shall also indemnify them against all expenses necessarily incurred by them in the defense of any action, suit, or proceeding in which any of them are made parties by reason of being or having been office-bearers, members of the Board of functionaries of the Trust.

XIV. AMENDMENT OF THE RULES AND REGULATIONS AND BYE- LAWS:

The amendments proposed to a clause or clauses of this Deed or any rules, regulation or bye-law shall first of all be consistent with the aims and objects of the Trust. Provided no amendment shall be valid unless it is passed by a ¾ majority of the Board of Trustees and has the prior approval of the Central Board of Revenue.

XV. BANK ACCOUNTS:

All funds of the Trust not otherwise employed or invested shall be deposited from time to time to the credit of the Trust in such scheduled bank or banks as the Board of Trustees may designate.

XVI. DISSOLUTION:

In the event of the dissolution of Trust, its assts left after meeting itsliabilities, if any, shall be transferred to some other trust, fund or institution to which approval has also been granted by the Central Board of Revenue within three months of such dissolution.

IN WITNESS WHERE OF THE AUTHORS OF the Trust have set their hand the day and year first above written.

Mr. Shamsul Islam Naz,

Secretary General,

Pakistan Federal Union of Journalists (PFUJ), Islamabad

NIC No. -----------------------------------------------------------

Mr. -----------------------------------------------------------------

NIC No. -----------------------------------------------------------

In the presence of:

Witnesses:

  1. Name --------------------------------------------------------------

NIC No. -----------------------------------------------------------

  1. Name --------------------------------------------------------------

NIC No. -----------------------------------------------------------



Shamsul Islam Naz
Secretary General
PAKISTAN FEDERAL UNION OF JOURNALISTS
12-Nazimuddin Road, F-6/1
Islamabad, Pakistan
Phone Office +92(0)51 2870220-1
Facsimile +92(0)51 2870223
Cellular +92(0)300 8665523
http://www.shamsulislamnaz.com
http://www.pfuj.pk

http://www.facebook.com/shamsul.naz
http://shamsulisalmnaz.blogspot.com/?spref=gb

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