1. Purpose of Company

1.1 Purpose

The Company's predominant purpose is to provide assistance to people who are Blind or Vision Impaired to access, and fully participate in, all facets of life and to remove barriers that prevent those who are Blind or Vision Impaired from enjoying equal access, opportunities and participation within the community. The Company may pursue commercial ventures in order to support its purpose.

1.2 Application of profits, income and property for purpose only

The profits (if any) or other income and the property of the Company, however derived, must be applied solely towards the promotion of the purpose of the Company as set out in Clause 1.1. No part of those profits or that income or property may be paid or transferred to the Members or Officers, either directly or indirectly by way of dividend, bonus or otherwise (other than as permitted by this Constitution).

1.3 Payment by the Company in good faith

Subject to Clauses 6.10 and Clause 12, Clause 1.2 does not prevent payment in good faith to an Officer or Member, or to a firm of which an Officer or Member is a partner

  1. of remuneration for services to the Company; or
  2. for goods supplied in the ordinary course of business; or
  3. of interest at a rate not exceeding the rate fixed for the purposes of this Clause 1.3 by the Company in general meeting on money borrowed from an Officer or Member;
  4. of reasonable rent for premises let by an Officer or Member in the ordinary course of business; or
  5. of any sum permitted to be paid under Clause 15 or under a deed entered into under Clause 15.

provided that any such payment, or any other payment permitted by this Constitution, made or proposed to be made to a director, has been approved by the Board (in any generic or specific case).

1.4 Application of property on winding up

If any property remains on the winding-up or dissolution of the Company and after satisfaction of all its debts and liabilities, that property may not be paid to or distributed among the Officers or Members but must be given or transferred to some other institution:

  1. having purposes similar to the purposes of the Company;
  2. whose constitution prohibits the distribution of its income and property among its members and directors to an extent at least as great as imposed on the Company under this Constitution; and
  3. being an institution accepted as a deductible gift recipient because it is a public benevolent institution.

The institution is to be determined by the Members at or before the time of dissolution.

1.5 Charitable Fundraising Act

Funds raised by means of a fundraising appeal or by any other means must be raised and maintained in accordance with the law of the Commonwealth and the applicable law of any State or Territory in which the funds are raised.

1.6 Powers

The Company has all the powers of a public company limited by guarantee set out in the Corporations Act, but only to the extent necessary or convenient to carry out, or incidental to carrying out, the Company's purpose.

Top