To establish a society a Memorandum and Rules and Regulations of Association must be printed.These documents must contain clauses which not only state the objectives for which the society is being established, but also how it will operate.No such wakf shall be deemed to be invalid merely because the benefit reserved therein for the poor or other religious, pious or charitable purpose of a permanent nature is postponed until after the extinction of the family, children or descendants of the person creating the wakf. Act 6 of 1913 to apply retrospectively.—The Mussalman Wakf Validating Act, 1913, shall be deemed to apply to wakfs created before its commencement: Provided that nothing herein contained shall be deemed in any way to affect any right, title, obligation or liability already acquired, accrued or incurred before the commencement of this Act.Companies Ordinance 1984 – In the purview of Section 42, the Ordinance allows a company to be incorporated for objectives such as Charity, Commerce, Sport, Religion, Education, Culture, Arts and any other socially useful purpose. Societies, Associations, Clubs etc are all registered under this.Fine Arts, Science, Museums, Libraries, educational endeavors, think tanks etc may all be registered under these.
Technically, it means a dedication of some specific property for a pious purpose or secession of pious purposes.
Union Law and Justice Minister Ravi Shankar Prasad has said the government was already working towards providing a single-window clearance for projects to woo foreign investors.
Some of the various laws that deal with the issue confer the status of artificial legal person to the organization and hence the assets owned by such an organization shall be held in perpetuity and recognition as a bona fide foundation.
In addition to the Memorandum of Association, the Rules and Regulations for governing the society must be set out and filed with the Registrar of Societies.
The Rules and Regulations, certified by not less than 3 members of the Managing Committee, must contain obligatory clauses relating to: A trust is a ‘gift’ of property to a person or institution providing benefit to both parties.