Change or a registered society to a trust
Ayub Hussain
(Querist) 11 December 2012
This query is : Resolved
Dear experts, kindly advice me the way out to change a registered society to a trust. what are the legal formalities involved and what is the expenses it would cost me approximately ?. pls advice
Raj Kumar Makkad
(Expert) 11 December 2012
There is no such law to convert a registered society to a trust. Both situations have different consequences.
As per bye-laws, wind up the society and form an independent trust or first form a trust and then wind up the society and merge in the trust having the similar aims and objects.
Cost depends upon the person whose services you hire and it can be got done within a period of 10 days.
prabhakar singh
(Expert) 11 December 2012
14. Upon a dissolution no member to receive profit
If upon the dissolution of any society registered under this Act there shall remain,
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 said society or any of them, but shall be given to some other society, to be determined by the votes of not less than three-fifths of the members present personally or by proxy
at the time of the dissolution, or in default thereof, by such court as aforesaid:
Clause not to apply to Joint-stock Companies : Provided, however, that this clause shall not apply to any society which has been founded or established by the contributions of share-holders in the nature of a Joint-stock Company.
Ayub Hussain
(Querist) 11 December 2012
Thank u so much dear Raj kumar makkad sir and Sri.Prabhakar Singh sir
