MEMORANDUM OF INCORPORATION OF ZWARTKOP GOLF 1 MEMORANDUM OF INCORPORATION OF ZWARTKOP GOLF ESTATE...

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Transcript of MEMORANDUM OF INCORPORATION OF ZWARTKOP GOLF 1 MEMORANDUM OF INCORPORATION OF ZWARTKOP GOLF ESTATE...

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    MEMORANDUM OF INCORPORATION

    OF

    ZWARTKOP GOLF ESTATE HOMEOWNERS ASSOCIATION NPC

    (Registration number 2004/002619/08)

    (A Non-profit company with members, which is referred to in the rest of this Memorandum of

    Incorporation as “the Company”)

    A. The main Object of the Company:

    The main Object of the Company is to protect and advance the communal interest of owners, occupants and other users of any of the properties comprising the Zwartkop Golf Estate, as are more fully defined in this Memorandum of Incorporation, and for this object the Company shall have the powers as set out hereunder and will apply its assets and income accordingly. The Company is also responsible for the maintenance of certain engineering services of all existing and future developments to be incorporated into the Estate.

    B. Adoption of Memorandum of Incorporation:

    The existing Memorandum and articles of association is amended as set out in this new Memorandum of Incorporation, adopted in accordance with section 16 of the Companies Act of 2008, as evidenced by a special resolution of Members in General Meeting, in accordance with Attachment “A” .

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    INDEX

    1. ARTICLE 1 - INCORPORATION AND NATURE OF THE COMPANY ....................................... .......... 3

    1.1 Interpretation ...................................................................................................................................... 3

    1.2 Incorporation ...................................................................................................................................... 8

    1.3 Objects and Powers of Company ....................................................................................................... 9

    1.4 Memorandum of Incorporation and Company Rules ......................................................................... 11

    1.5 Optional provisions of the Act do not apply ....................................................................................... 13

    1.6 Terms of Membership of the Company ............................................................................................. 13

    2. ARTICLE 2 - RIGHTS OF MEMBERS ...................................................................................... 24

    2.1 Members' right to Information ............................................................................................................. 24

    2.2 Representation by concurrent proxies .............................................................................................. 24

    2.3 Authority of proxy to delegate ........................................................................................................... 24

    2.4 Requirements to deliver proxy instrument to the Company ............................................................... 24

    2.5 Deliberative authority of proxy .......................................................................................................... 24

    2.6 Record date for exercise of Member rights ....................................................................................... 24

    2.7 Limitation on rights of Members ....................................................................................................... 25

    2.8 Proxy ............................................................................................................................................... 25

    3. ARTICLE 3 - MEMBERS' MEETINGS ...................................................................................... 26

    3.1 Requirement to hold meetings .......................................................................................................... 26

    3.2 Members’ right to requisition a meeting ............................................................................................ 26

    3.3 Location of Members’ meetings ........................................................................................................ 26

    3.4 Notice of Members meetings ............................................................................................................ 27

    3.5 Quorum for Members’ meetings ....................................................................................................... 28

    3.6 Adjournment of Members’ meetings ................................................................................................. 29

    3.7 Members’ resolutions ....................................................................................................................... 29

    3.8 Votes of Members ............................................................................................................................ 30

    4. ARTICLE 4 - MEMBERS' MEETINGS ...................................................................................... 31

    4.1 Composition of the Board of Directors .............................................................................................. 31

    4.2 Authority of the Board of Directors .................................................................................................... 34

    4.3 Board of Directors’ meetings ............................................................................................................ 34

    4.4 Indemnification of Directors .............................................................................................................. 36

    4.5 Officers and Committees .................................................................................................................. 38

    4.6 Accounting records .......................................................................................................................... 38

    4.7 Annual Financial Statements ............................................................................................................ 38

    ATTACHMENT A Approval by Members ??.................................................................................. 39 ATTACHMENT B Rules ................................................................................................................... 40 ATTACHMENT C Dispute resolution ??........................................................................................ 54 ATTACHMENT D Proxy forms ......................................................................................................... 58

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    ARTICLE 1 - INCORPORATION AND NATURE OF COMPANY

    1.1 Interpretation

    In this Memorandum of Incorporation:

    1.1.1 article headings are used for convenience only and shall not be used in its interpretation, nor modify nor amplify any of the provisions of this Memorandum of Incorporation;

    1.1.2 unless the context clearly indicates a contrary intention, an expression that denotes:

    1.1.2(a) any particular gender shall include the other gender;

    1.1.2(b) a natural person, shall include corporate or un-incorporate created entities and vice versa;

    1.1.2(c) the singular, shall include the plural and vice versa;

    1.1.3 a reference to a section by number refers to the corresponding section of the Companies Act 71 of 2008;

    1.1.4 words that are defined in the Companies Act, 71 of 2008, bear the same meaning in this Memorandum of Incorporation as in that Act;

    1.1.5 words and/or expressions defined in this Memorandum of Incorporation shall bear the same meanings in any Rules, schedules and/or attachments and annexures hereto which do not contain their own defined words and/or expressions;

    1.1.6 a reference to the Act shall include reference to the Regulations promulgated in terms thereof;

    1.1.7 in any instance where there is a conflict between a provision (be it expressed, implied or tacit) of this Memorandum of Incorporation and:

    1.1.8 an alterable or elective provision of the Act, the provision of this Memorandum of Incorporation shall prevail to the extent of the conflict; and

    1.1.9 an unalterable or non-elective provision of the Act, the unalterable or non-elective provision of the Act shall prevail to the extent of the conflict unless the Memorandum of Incorporation imposes on the Company a higher standard, greater restriction, longer period of time or similarly more onerous requirement, in which event the relevant provision of this Memorandum of Incorporation shall prevail;

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    any reference to a notice shall be construed as a reference to a written notice, and shall include a notice which is transmitted electronically in a manner and form permitted in terms

    1.1.10 of the Act directly to the recipient person in a manner and form such that the notice can conveniently be printed by the recipient within a reasonable time and at a reasonable cost;

    1.1.11 the words “include” and “including” mean “include without limitation” and “including without limitation”. The use of the words “include” and “including” followed by a specific

    example or examples shall not be construed as limiting the meaning of the general wording preceding it;

    1.1.12 Unless the context clearly indicates a contrary intention or unless otherwise provided and subject to the definitions In the Act, defined terms appearing in this Memorandum of Incorporation in title case shall be given their meaning as defined herein, or in terms of the Act, while the same terms appearing in lower cas