Monika (CWA FINAL) (126 Points)
24 January 2011Sir,
I request u to send me the procedure for changing the membership of a trust i.e replacing a trustee alongwith a draft resolution passed by the trustees for such change in membership .
Also a draft board resolution for setting up a training center under a brand name , by the trust.
Thanks
Jaideep
(Service)
(1368 Points)
Replied 25 January 2011
Hi Monika,
Change in Membership of trust is the matter of internal regulation and policies of trust. Trust, I mean Board of Trustee may change any of trustee as per the provisions of the trust deed.
If nothing is provided on the matter in the trust deed, just pass the simple resolution providing preamble for the same as the good practice.
You may use the following words if suitable;
Mr. ......................... has expressed his inability to continue as trustee by resignation letter dated..............
After some discussion, it was
“RESOLVED THAT pursuant to clause .........of the Trust Deed and other applicable provisions, if any, the resignation tendered by Mr. ...................... as a trustee of the SST Employees Welfare Trust is hereby accepted w.e.f. ............ .
FURTHER RESOLVED THAT the remaining trustees shall be entitled to exercise the powers in the manner as vested in the trustees for the execution of the objectives as mentioned in clause ........... and other applicable provisions of the deed.”
Regards
Jaideep Pandya
Viswanath Reddy
(45 Points)
Replied 16 March 2020
In continuation to above discussion, My query is that whether the trust deed is to amended effecting the change in membership & registered at Sub-registrar office.
pls clarify!!!!
CAclubindia
