4.15 To acquire, merge with or enter into any partnership or joint venture arrangement with
any other organisation formed for any of the Objects.
4.16 To employ and remunerate such staff as are necessary for carrying out the work of the
4.17.1 deposit or invest funds;
4.17.2 employ a professional fund-manager; and
4.17.3 arrange for the investments or other property of the Association to be held in
the name of a nominee;
4.18 To provide indemnity insurance for the members of the Board or any other Officer of the
Association in relation to any such liability as is mentioned in sub-clause 4.18.1 but
subject not any such liability as is specified in sub-clause 4.18.2 (“the excluded
4.18.1. The liabilities are:
126.96.36.199 any liability that by virtue of any rule of law would otherwise attached to a
director of a Association in respect of any negligence, default, breach of duty
or breach of trust of which he or she may be guilty in relation to the Association;
188.8.131.52 the liability to make a contribution to the Association’s assets as specified in
Section 214 of the Insolvency Act 1986 (wrongful trading).
4.18.2 The excluded liabilities are:
184.108.40.206 costs of unsuccessfully defending criminal prosecutions for offences arising
out of the fraud, dishonesty or wilful or reckless misconduct of a member of
the Board or other Officer;
220.127.116.11 liabilities to the Association that result from conduct that the member of the
Board or other officer knew or must be assumed to have known was not in the
best interest of the Association or about which the person concerned did not
care whether it was in the best interests of the Association or not.
18.104.22.168 any liability to make a contribution where the basis of the Board member’s
liability is his or her knowledge prior to the insolvent liquidation of the
Association (or reckless failure to acquire that knowledge) that there was no
reasonable prospect that the Association would avoid going into insolvent
4.19 To lend or advance money with or without interest and with or without security and to
enter into any form of financial arrangement or guarantee which in the opinion of the
Board is conducive to the attainment of any of these Objects.
4.20 To publish, produce, commission and distribute all kinds of books, pamphlets, brochures,
magazines and other types of literature together with all types of sound or visual
4.21 To engage in any other lawful activities as are considered by the Board to be to the
advantage and benefit of the Association or conducive to the attainment of the Objects.
5 INCOME and PROPERTY
The income and property of the Association however derived shall be applied solely toward the
promotion of the Objects and subject to Clause 7 no portion thereof shall be paid or transferred
directly or indirectly by way of dividend bonus or otherwise howsoever by way of profits to the
Members of the Association provided that nothing herein shall prevent the payment of
remuneration in good faith to any officers or servants of the Association or to any members of
the Association or other persons for any services actually rendered to the Association.
The liability of the members is limited.