Income

The income of the HLP Foundation, howsoever derived, shall be applied solely towards the promotion of the objectives and the purpose of the HLP Foundation as set forth in this Memorandum of Association, and no portion hereof shall be paid or transferred directly or indirectly by way of dividend, bonus, or otherwise howsoever by way of profit to the persons who at any time are members of the HLP Foundation.

Funding

Funding of the foundation will be from diverse sources, such as:

• Subscriptions and grant donations of the members, workers, supporters, volunteers, and well-wishers from within the country and abroad.
• Grants and donations of local and foreign donor agencies (according to foreign donation voluntary activities).
• Grants and donations of the government.
• Grants and donations from private companies.
• Grants and donations from members of the Governing Body, and other persons.
• Grants and donations of any foundation, organization, or association.
• Loan from Bank/Board of the Members/other society/individuals.
• Income from the operation of the project managed by the association.
• Income/service charge from any investment project.
• Income from any other legal sources, as decided by the Governing Body.
• Income from consultancy, tech tools, and selling products, etc.

Fund mobilization and utilization

In order to be able to fulfill the objectives of the HLP Foundation, the Company shall:

1. Accept donation, cash or kind from any person, institution, foundation, organization, or companies from home or abroad to use the same towards the promotion and maintenance of the objectives of the Company, create and provide funds to apply the same as the Company may deem expedient for the fulfillment of its objectives, provided that the Company shall not receive any foreign donation without undergoing the formalities as laid down in the Foreign Donation (Voluntary Activities) Regulations Ordinance (Ordinance No. XLVI of 1978), and the Foreign Contributions (Regulation) Ordinance (Ordinance No. XXXI of 1982) as amended from time to time.
2. Pay out of the funds of the HLP Foundation, or out of any particular part of such funds, will be to meet all expenses and incidentals to the formation and management of the Company, or of administering any special trust or otherwise to carry out any of the forgoing objectives, including the payments of salaries to persons employed by the Company.
3. The Foundation shall:
4. Institute, conduct, defend, or compromise legal proceedings by or against the Company or its office bearers in respect of matters affecting the Company.
5. Make rules and regulations or bylaws not inconsistent with the law, or with the Memorandum of the Association for the proper administration of the HLP Foundation, and all its institutions and projects.
6. Do all such other lawful acts, matters, deeds, and things as are incidental or conducive to the attainment of the objectives.