Benacian Purchasing Commission

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Continuator
"The devil in the details"
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Benacian Purchasing Commission

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Establishment Name: Benacian Purchasing Commission
Establishment Primary Office: Lindstrom
Establishment Subsidiary Offices: Port St Andre, Redquill, Triegon, Elijah's Rest
Establishment Parent Entity: Benacia Command
Establishment Type: Public Limited Liability
Entablishment Head Entity: Chief Executive Officer appointed in accordance with Articles of Association
Establishment Activities: Procurement of machinery, capital goods
MEMORANDUM OF ASSOCIATION


ARTICLE THE FIRST, the name of the company is the Benacian Purchasing Commission, hereinafter referred to as the Commission.

ARTICLE THE SECOND, the registered office of the Commission will be situated in Lindstrom.

ARTICLE THE THIRD, the share capital of the Commission is ₦1,200,000,000, divided into one hundred (100) shares of ₦12,000,000 each. The power for the Commission to increase or reduce the said capital and to issue any part of its capital, original or increased, with or without preference, priority or special privileges, or subject to any postponement of rights or to any conditions or restrictions and so that, unless the conditions of issue shall otherwise expressly declare, every issue of shares, whether declared to be preference or otherwise, shall be subject to the power herein-before contained. The value of each share will be calculated at the end of each shareholder meeting from the Commission's net income, whereby the net income is divided by the total number of shares, with the quotient added to the previous share value being the new share value.

ARTICLE THE FOURTH, each shareholder is given the right to call to order a meeting of all shareholders. Each shareholder is given one (1) vote per owned share in their name. Shareholder meetings, by default and if not called to order sooner, are to take place at the final week of each Norton Year. The resolutions and bylaws as created or abolished in a meeting of shareholders is binding for all employees, agents and officers of the Commission.

ARTICLE THE FIFTH, each shareholder is given the right to sell or trade their shares as they see fit and in accordance with all local laws and ordinances of their place of residence.

ARTICLE THE SIXTH, Ermanaric Parsamyan is named Chief Executive Officer. A simple majority is needed to instate or remove a shareholder as Chief Executive Officer. The Chief Executive Officer, by default and unless otherwise delegated by way of written, signed and witnessed statement, is to act as Chairman of all shareholder meetings. It is the duty of the Chief Executive Officer, at the closure of a meeting of shareholders, to announce the gross income, net income, share price as a result of any profit made and an itemized list of expenditures.

ARTICLE THE SEVENTH, the liability of the shareholders is limited. The exactly liability of the shareholders is limited to the amount, if any, unpaid on the shares held by them.

ARTICLE THE EIGHTH, in these Articles, unless the context requires otherwise, all terms shall be defined by the Chairman, from whom clarification may be sought upon written application to the Chief Executive Officer.

ARTICLE THE NINTH, the Commission's logo shall be a golden valknut.

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Desirous to form a company in pursuance of this memorandum of association, the undersigned agree to take the number of shares in the capital of the company set opposite to the respective names:

CONSTANTINE LOUP (BENACIA COMMAND): One Hundred (100) Shares

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