MEMORANIUM OF ASSOCIATION OF THE SPORTS AUTHORITY OF GOA.
In the matter of Act XXI of 1860, being an Act for the Registration of Literary, Scientific and charitable Societies and in the matter of THE SPORTS AUTHORITY OF GOA.
The name of the Society is THE SPORTS AUTHORITY OF GOA herein after referred to as ‘THE AUTHORITY’.
The registered office of the Authority will be situated at the Indoor Stadium Complex, Campal Panaji.
The objects for which the Authority is established are:-
To plan the all-round development of youth in the State of Goa by providing facilities to promote sports physical fitness, character building, team spirit, sportsmanship, patriotism etc., through active participation in amateur games and sports, youth welfare recreational, coaching activities.
To diffuse useful technical knowledge pertaining the sports and games and promote research in sports and sports equipment.
To plan, develop, construct, acquire, take over, manage, maintain and utilise sports infrastructures, sports facilities, ancillary buildings, playfields, lands, residential facilities for sports persons etc., at village taluka, district and state level in Goa as per the directives of the Government of Goa.
To accept and collect donations, grants and gifts from the State and Central Government and other National Sports bodies, private organisations and individual bonners to undertake management of any endorment or trust fund and to make donations, grant, gifts for the purpose of the objects of THE AUTHORITY’.
To borrow and raise money by deposits, etc., with or without security or on security of moveable and immovable property, belonging to authority provided that the prior approval of the Government is obtained in that behalf.
To acquire, purchase and get existing sports infrastructures transferred from Government or otherwise own, take on lease or hire immoveable and movable properties and sale mortgage, transfer or otherwise dispose or any such immovable and movable properties subject to conditions that the prior approval of the Government of Goa shall be obtained in respect of such transactions.
To do all such acts as may be directed to perform by the Government for furtherance of mages and sports or as per the need and necessity.
To make rules and regulations for conduct of meeting and affairs of the Authority and to adopt and vary them from time to time.
The Authority formed shall be irrevocable.
5. (a) The funds and the income of the Authority shall be solely utilsied towards the achievements of the objects and no portion of it shall be utilised for payment to trustees/members by way of profits, interest, divided etc.
The fund of the authority shall be invented in the mode specified under the provision of sec. 13 (1) (d) read with section 11(5) of the income – tax Act 1961.
6. There shall be maintained all accounts of the authority regularly. The accounts shall be audited by the Chartered Accountant every year.
No amendments to be memorandum of Association and rules and regulations shall be made which may prove to be repugnant to the provisions of sec.2 (15) 11, 12 and 13 and 80G of the Income Tax Act, 1961. Further, the amendments shall be carried out without the prior approval of the Commissioner of Income Tax.
The benefit of the Authority shall be open to all irrespective of cats, creed or religion.
No objects / activities of religious nature shall be carried out in the Sport Authority.
In the vent of dissolution or winding up of the authority as per the provision in the Societies Registration Act, 1860, the assets remaining as on date of dissolution shall under no circumstances be distributed among the member of the General / Governing body of the Authority but the same shall be transferred to another society, associations whose objects are similar to these of the objects of the Sports Authority of Goa which enjoys recognition u/s of Income Tax Act, 1961.
The affairs of the Authority will be managed and conducted by the Governing Body of Authority according to the rules and regulations of the Authority, which have been framed with the approval of Government of Goa. Previous sanction of the Government of Goa shall be required for any change in the rules and regulations of the Authority.
