Company Registration Under Societies Act, 1860

COMPANY REGISTRATION UNDER SOCIETIES ACT, 1860

Association not for profit is a structure available to legally formalize the charitable objectives or some other social mission by a group of individuals. In Pakistan association not for profit or society may also be registered in accordance with Societies Registration Act, 1860 for the grant of charitable assistance, for the promotion of science, literature, the fine arts, for instruction, the diffusion of useful knowledge, diffusion of political education the foundation or maintenance of libraries or reading rooms, public museums and galleries of paintings and other works of art, collection of natural history, mechanical and philosophical inventions, instruments or designs.

The Societies Registration Act 1860 applies to charitable societies with a wide range of public benefit purposes. Such charitable societies are registered and operated on district level generally, in Punjab for instance, the District offices of the Industry Department are responsible for registering organizations under the Societies Registration Act 1860.

An association not for profit may have many revenue streams including contributions by members, donations, charity, grant, aid, gift, subsidy, income from trust property, and income from any other lawful business activity of the association. All such income, donations and profits are applied to promote association’s objects and not distributed among its member in any form directly or indirectly. Normally members and their dependent family members are not even allowed to take salaries, remunerations or compensations for their services and effort, all the services rendered voluntarily for the achievement of association’s objects.

IBI-Remedium facilitate with incorporation of Association Not for Profit under the Societies Registration Act 1860.