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An association or tie-up of several individuals that manage, governs, and works hand in hand to achieve some common goal is known as a Society. The primary purpose of societies is to advance charitable or social activities such as music, sports, religion, culture, art, education, and so forth.
The Society Registration Act applies regulations on the Registration o of Societies in India and prepares certain procedures with the aim of operating those societies. The purpose of this act was to enhance the legal conditions and specification of the registration of societies for the advancement of literature, science, and art and the distribution of awareness about free-handed activities that benefit society as a whole. This act has been consented to by several state governments in India without or with adding some amendments.
The Purpose of Societies is the advancement of science, literature or the fine arts and the spread of knowledge regarding political education or charitable actions. As per Principal Act’s Section 20, society can aim for the following:-
The Societies Registration Act of 1860 regulates the complete procedure of NGO registration as a society in India. In order to draft the Memorandum of Association, the following six clauses must be filled in the Memorandum of Society.
According to the Indian Society Act, a society’s name cannot resemble that of another society already registered. It is important that all members of society agree on the name and accept it. The title cannot be kept or preserved under the statutory provisions of any act, nor can it fail to comply with any law requirement. A memorandum of association or MoA should be drafted along with the rules and responsibilities of society and members after choosing the title of the society. Each protocol must be signed and manifested by all the members of the corporation, with witnesses being a notary, an oath commissioner, and a first-class magistrate, along with their stamps and the complete address of their office.
The application must be filed with the documents, two compies of every needed document, to the Registrar of the respective state who has the authority to register a society. The Registrar will sign the first copy of the application as confirmation and return the second copy to the applicant along with the licence. The Certificate of Registration is granted along with the Registration Number by the Registrar once he has verified the compliances and the documents.
Objects | Section 8 Company | Society |
Structure of the company | Complicated or complex | Simple and easy |
Name of the company | Should get sanctioned from the Registrar of the Companies | Selection is not difficult |
Meetings | Has to be held under the provisions of the Companies Act, 2013 | Has to be held as per provisions in the Act. |
Administration | Provisions of the Companies Act have to abide by with and/or difficult and lengthy, rigid and time consuming | Not much restrictions imposed under the Act |
Status | Companies gain from reputation of status | Registered societies receive identical reputation as companies |
Penalties | Provisions as per the Companies Act are more severe and attract more fines and penalties. | Very few offences and penalties have been specified |
Individuals, Partnership firms, Foreigners, Companies and other certified organizations.
No, members of the society are not allowed to use profit incurred by the organization in any way.
The General Body of a society consists of all members who have signed the memorandum of the organization.
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