2.    Each trade organization shall internally conduct an annual performance reviewed and have such performance review audited by external auditors based upon an inspection of all records of the trade organization to include but not be limited to minutes of meetings and the trade organization’s plan of activities.



FUNDS

81).     The funds of the Association shall be deposited in a scheduled Bank or Banks.


SEALS

82).     The Executive Committee shall as soon as practicable provide for a common seal of the Association.  The seal shall be deposited with the Secretary General at the Head Office and shall never be affixed to any document except in pursuance of a resolution of the Executive Committee.  Deeds, bonds and other documents to be made under the Seal shall be deemed to have been duly executed on behalf of the Association, if sealed with the common seal of the Association, and signed by the Chairman or Vice-Chairman and countersigned by the Secretary General or by the person acting as Secretary General.


GENERAL

83).     The members who have subscribed to the Memorandum and Articles of Association shall constitute the Adhoc Committee of the Association and shall exercise all the powers of the Executive Committee until such time as office bearers of the committee are elected in terms of thee Articles after the registration of the Association.


INCONSISTENCY

84).     Notwithstanding anything contained in these Articles, the provisions of Trade Ordinance and Rules will prevail to resolve any inconsistency.


WINDING UP

85).     The provisions of the Companies Ordinance, 1984 as amended from time to time, regarding the winding up of a private company shall apply to the winding up or dissolution of the Association.


INDEMNITY

86).     The Chairman, Vice Chairman, Secretary General, members of the Executive Committee and all officers of the Association from time to time acting in relation to any of the affairs of the Association shall be indemnified out of the funds and assets of the Association against all liabilities which they or any or them may incur by reason of any act done or action taken in their aforesaid capacity in the execution of their duty including defending all legal proceedings before any Court of Law.