A trust is a legal relationship between a trust creator, a trustee and a beneficiary. In a trust, the trustee is compelled in law to hold the property for the benefit of the beneficiary or for a purpose permitted by law. A trust can be classified into various types such as public/charitable trust and private trust; executed and executory trust; express and implied trust; and resulting or constructive trust. In Bangladesh, a private trust shall be created under the Trust Act, of 1882.
What Is A Trust Deed
A trust deed is a legal document which is essentially an agreement between the creator of the trust and the trustee. It sets out the conditions, terms and rules for creating and managing the trust. This trust deed works as a direction regarding how the trust will be operated and how the trustees will deliver the benefits to the beneficiaries.
How to register a deed of trust
Contents of A Trust Deed
A trust deed has to be drafted with well and clear words along with below contents:
Details of the author/creator and the trustee, The object of trust with clarity and certainty, Details of the beneficiaries, How the trust will be governed, Financial administration of the trust, and Option for dissolution of the trust. The registration process of a trust deed
The registration of a trust depends on what type of property is the subject of the trust. As per Section 5 of the Trust Act, of 1882, registration for a trust of moveable property is not necessary, whereas registration of a trust of immovable property is compulsory. So, to register a trust deed the following matters need to be considered:
Step-1 Appropriate authority for registration of a trust deed
A trust deed can be registered in the relevant Sub-Registrar’s office, just like the registration of land documents. As per Section 28 of the Registration Act, 1908, the trust deed for immovable property shall be presented for registration in the office of the Sub-Registrar where that immovable property is situated. On the hand, the trust deed for movable property may be registered where the activities of such trust will be carried on or where the registered office of the trust is located.
Step-2 Registration Fees
The fees for registration of a trust deed can be found in the Gazette being No.- S. R. O. No. 254-Law/2014 which is created in pursuance of the provision of section 78 of the Registration Act, 1908 by the Law and Justice Division of the Ministry of Law, Justice and Parliamentary Affairs. As per Article A (1) of the Gazette, when the trust value does not exceed BDT 5,000/- then the fee shall be 2% ad valorem, subject to a minimum of taka 100/-. If the trust value does exceed BDT 5,000/- then the fee shall be 2% of the value to be given as a registration fee.
Step-3 Stamp Duty
The stamp duty for trust deed can be found in Schedule I of the Stamp Act
, 1899. As per serial no.- 64 of Schedule I, the stamp duty for the trust deed shall be 2% of the value of the consideration.
Step-4 Signing the deed
The author/creator and the trustee need to sign the trust deed before the registering officer. In addition to that the authors of the trust need to sign and put his/her fingertip on the register book before the registering officer. Subsequently, 2(two) witnesses need to sign on the last page of the trust deed before the registering officer.
Step-5 application for a certified copy:
The author/creator of the trust needs to complete and sign a dedicated form that needs to be submitted to the office of the sub-registrar for a certified copy of the registered trust deed.
Receipt under section 52(1)(b):
Once completing all the above-mentioned formalities and submitting the document to the registering officer, as per Section 52(1)(b) of the Registration Act, 1908, a receipt for such document shall be given by the registering officer to the person presenting the document.
GET THE BEST LAWYERS IN BANGLADESH REGISTER A TRUST DEED:
Typically, the registration process can be completed in seven to ten working days. Nevertheless, this duration of services may vary under special conditions.
Tahmidur Rahman Remura is a full-service law firm whose competent and experienced attorneys handle all types of Deed Registration and related matters. Visit our office or feel free to contact us via WhatsApp at +8801847220062 or via email at info@pymeslaw.com if you require any assistance or consultation.
Amid investor qualms over the hefty price tag, Adobe Inc. decided to buy cloud-based designer platform Figma on Thursday for $20 billion. As a result, the market capitalization of the company that created Photoshop fell by more than $30 billion.
The cash-and-stock transaction would give Adobe ownership of a company whose web-based collaboration platform for ideas and brainstorming is well-liked by digital firms like Zoom Video Communications (ZM.O), Airbnb Inc., and Coinbase. It is the largest buyout of a privately-owned software startup (COIN.O).
The business of Figma, according to Adobe CEO Shantanu Narayen, is “the future of work,” and there are “tremendous prospects” to combine it with his company’s products like document reader Acrobat and online whiteboard Figjam.
For Figma’s venture capital backers, including Index Ventures, Greylock Partners, and Kleiner Perkins, the $20 billion exit represented a significant victory.
“Users of Figma will have access to Adobe’s photography, graphics, and video technology through this agreement. And Figma can provide its extensive knowledge in constructing in the browser in return “Josh Coyne, a partner at Kleiner Perkins, who made the initial investment in Figma in 2018, stated that the investment is anticipated to provide a return of over 100 times once the deal is closed.
Continue scrolling to see an advertisement Less enthused investors reduced the value of Adobe’s stock by 17% on Thursday. Many of them claimed to understand the strategy’s justification, but they claimed Adobe spent too much for a business that had been valued at roughly $10 billion in a private funding round just over a year before.
Since Figma’s annual recurring revenue (ARR) was $400 million, a negligible portion of Adobe’s $14 billion, according to David Wagner, portfolio manager and equity analyst at Aptus Capital Advisors, which holds a 1.5% stake in Adobe, it was unreasonable for Adobe to pay the equivalent of 11% of its market value for 2.8% more ARR.
Continue scrolling to see an advertisement Wagner stated, “We’re upset with the sum paid for the company (Figma).”
Three years after the deal’s conclusion, according to Adobe, the acquisition should increase its earnings. It also predicted that by 2025, the design, whiteboarding, and collaboration segments of Figma’s total addressable market will amount $16.5 billion.
One of the most opportunistic corporations in Silicon Valley, Adobe has acquired a number of companies as it has sought to protect its market share from rivals over the years.
Prior to Figma, their greatest acquisition was the $4.75 billion purchase of the software company Marketo in 2018.
In order to narrow its focus on collaboration tools, it has also acquired several businesses over the previous 24 months, including video collaboration software Frame.io, social media marketing start-up ContentCal, and collaboration tool provider Workfront.
In 2023, the transaction is anticipated to close, pending regulatory approval.
Co-founder and CEO Dylan Field will remain in charge of the San Francisco-based Figma, which will continue to run independently. If the acquisition is cancelled, each company will be required to pay a $1 billion termination fee.
According to Refinitiv statistics, Adobe’s anticipated fourth-quarter sales of $4.52 billion was less than the $4.58 billion experts had predicted.
The company’s third-quarter profit decreased by over 6% as a result of rising costs and a stronger US dollar.
Visa SB1 The SB1 Returning Resident immigrant visa permits individuals who have lawful permanent resident (LPR) or conditional resident (CR) status in the United States to travel outside the country for a length of time without losing their residence status. LPRs and CRs are both sorts of Green Card holders in the United States. When a Green Card holder leaves the United States for more than one or two years, it suggests to the US government that the Green Card holder wants to relinquish his or her Green Card.
Who Is Eligible for the SB1 Visa? When a Green Card holder leaves the country and tries to return, the US government determines whether the Green Card holder intends to make the country his or her permanent home. If a Green Card holder travels overseas for an extended period of time, the US government may conclude that the Green Card holder did not intend to make the US his or her permanent home. The SB1 visa is required for Green Card holders who want to travel for a duration longer than the one year allowed under their Green Card or the two years allowed under a Re-Entry Permit.
Under a Year of Travel Abroad
In general, Green Card holders who travel overseas and are away from the US for less than a year do not require an SB1 visa or a Re-Entry Permit to return to the US. Returning to the United States following a trip lasting less than a year requires a Green Card holder to submit his or her Green Card identification document, passport, residency cards, and other identifying documents at a port of entry.
Visits to other countries lasting more than a year but less than two years
Green Card holders who leave the United States often cannot stay abroad for more than one year without being considered to have abandoned their Green Card. Green Card holders, on the other hand, can apply for a Re-Entry Permit before leaving the country. A Re-Entry Permit permits Green Card holders to stay outside the United States for two years without losing their Green Card status. A Green Card holder must file Form I-131, Application for Travel, in order to receive a Re-Entry Permit.
Overseas Visits in the Last Two Years
Even if a Green Card holder obtains a Re-Admission Permit before leaving the country, he or she must return to the country within two years to be permitted entry. A SB1 visa may be available for re-entry if a Green Card holder with a Re-Entry Permit is outside the United States for more than two years due to circumstances or events beyond his or her control.
Exception for Armed Forces and Government Employees’ Families
Though most Green Card holders are not authorized to return to the United States after more than two years without receiving an SB1 visa, select Green Card holders are permitted to return after two years without obtaining an SB1 visa.
These two kinds of Green Card holders can travel abroad for more than two years without needing to obtain an SB1 visa when they return:
The spouse or children of a member of the United States Armed Forces; Civilian personnel of the United States government stationed overseas Who is Eligible for the SB1 Visa? When applying for the SB1 visa, an applicant must:
Have been a lawful permanent resident or conditional resident in the United States at the time of departure; Have left the United States with the intention of returning and still intend to do so; Returning to the United States from a temporary visit abroad: Be able to demonstrate that the visit overseas was prolonged due to circumstances or situations beyond the Green Card holder’s control. When a Green Card holder applies for the SB1 visa, he or she must demonstrate to a US Consular Officer that he or she fits these conditions.
What is the Procedure for Obtaining an SB1 Visa? The procedure for obtaining an SB1 visa is rather simple. However, different US Embassies and Consulates may have different criteria at different points throughout the procedure. As a result, applicants for the SB1 visa should carefully read any specific instructions supplied by the US Embassy or Consulate to which they apply.
Step One: Contact the nearest US Embassy or Consulate.
Individuals who need to apply for an SB1 visa must first contact the nearest US Embassy or Consulate at least three months before their intended return to the United States. The candidate will be interviewed and relevant papers will be submitted through the US Embassy or Consulate. An applicant might also become acquainted with any unique procedural restrictions imposed by the US Embassy or Consulate by contacting the US Embassy or Consulate.
Step 2: Submit the Required Documentation to the US Embassy or Consulate.
Following contact with the United States Consulate or Embassy, the applicant must submit all relevant papers to the same United States Consulate or Embassy. The essential documents is required to demonstrate the applicant’s travel history, eligibility for the SB1 visa, and underlying immigrant visa status.
When applying for an SB1 visa, the following forms and papers are required:
Form DS-117, Application to Determine Returning Resident Status; Form I-551, Permanent Resident Card; and, if applicable, the applicant’s Re-Entry Permit Other documentation must be presented as well, demonstrating:
Dates of travel outside the United States of the applicant, such as plane tickets or passport stamps; Tax returns and evidence of family, social, or economic ties to the United States are examples of proof of the applicant’s ties to the United States and intent to return. Proof that the applicant’s extended stay outside the United States was for circumstances beyond his or her control, such as medical or employment grounds. Third step: Attend the Medical Exam
A SB1 visa candidate must have a medical examination after submitting all needed papers. This is a necessary step before the applicant can meet with a Consular Officer at a U.S. Embassy or Consulate near them. If the applicant has any questions or concerns concerning the medical examination, he or she should contact the US Embassy or Consulate where he or she is applying. The US Embassy or Consulate will provide details on where to receive a medical appointment and what the medical examination will include, including any required vaccinations.
Step 4: Interview at the US Embassy or Consulate
All SB1 candidates must meet with a US Consular Officer at the US Embassy or Consulate where they apply. During the interview, the candidate must adhere to any specific criteria imposed by the US Embassy or Consulate, as well as submit the following documentation:
Form DS-260, Immigrant and Alien Registration Application; original passport of the applicant; two pictures of the applicant that fulfill the Department of State’s photo requirements; Any civil paperwork sought by the United States Embassy or Consulate. What is the cost of obtaining an SB1 visa? Form DS-117 has a processing charge of $180, while Form DS-260 has a fee of $325. The medical examination and mandatory immunizations will incur additional charges for SB1 applicants.
Salman Khan’s brother, actor Sohail Khan and his nephew Ayaan Agnihotri and Being Human Clothing CEO Sanjeev Rao will attend the opening programme
Photo: Collected
The inauguration program will be attended by Sanjeev Rao, CEO of Being Human Clothing, as well as Sohail Khan, Ayaan Agnihotri, and Salman Khan’s brother.
On Tuesday, Being Human Clothing Bangladesh posted a video about this on their Facebook page (13 September).
Be a part of the launch….Being Human Clothings’ first showroom in Banani, September 15, 2022,” the tweet added. “Official Confirmation from BHAI, Being Human Clothing is Launching in the Heart of Dhaka City.”
AI image generation has arrived in a major way. Stable Diffusion, a recently released open source image synthesis model, enables anyone with a PC and a decent GPU to create virtually any visual reality they can imagine. The results appear on your screen as if by magic when you feed it a descriptive phrase.
Some artists are thrilled by the prospect, while others are not, and society as a whole is still largely unaware of the rapidly evolving tech revolution taking place through Twitter, Discord, and Github communities. Image synthesis may have ramifications comparable to the invention of the camera, or even the creation of visual art. Depending on how things play out, even our sense of history could be at risk. In any case, Stable Diffusion is at the forefront of a new wave of creative tools based on deep learning that are poised to revolutionize the creation of visual media.
Advances in deep learning-based image synthesis
Stable Diffusion is the brainchild of Emad Mostaque, a former London-based hedge fund manager whose company, Stability AI, aims to bring novel deep learning applications to the masses. However, the origins of modern image synthesis can be traced back to 2014, and Stable Diffusion was not the first image synthesis model (ISM) to make waves in 2018.
OpenAI announced DALL-E 2 in April 2022, shocking social media with its ability to transform a written scene (called a “prompt”) into a variety of visual styles that can be fantastical, photorealistic, or even mundane. People with privileged access to the restricted tool produced astronauts on horseback, teddy bears purchasing bread in ancient Egypt, and novel sculptures in the style of renowned artists, among other things.
i) The model is being released under a Creative ML OpenRAIL-M license [https://huggingface.co/spaces/CompVis/stable-diffusion-license]. This is a permissive license that allows for commercial and non-commercial usage. This license is focused on ethical and legal use of the model as your responsibility and must accompany any distribution of the model. It must also be made available to end users of the model in any service on it.
ii) They have developed an AI-based Safety Classifier included by default in the overall software package. This understands concepts and other factors in generations to remove outputs that may not be desired by the model user. The parameters of this can be readily adjusted and they welcome input from the community how to improve this. Image generation models are powerful, but still need to improve to understand how to represent what they want better.
As these models were trained on image-text pairs from a broad internet scrape, the model may reproduce some societal biases and produce unsafe content, so open mitigation strategies as well as an open discussion about those biases can bring everyone to this conversation. Learn more about the model strengths and limitations in the model card.
This release is the culmination of many hours of collective effort to create a single file that compresses the visual information of humanity into a few gigabytes.
Additional functionality and API access will be activated shortly, including local GPU support, animation, logic-based multi-stage workflows and many more.
We are also happy to support many partners through our API and other programs and will be posting on these soon.
The recommended model weights are v1.4 470k, a few extra training steps from the v1.3 440k model made available to researchers. The final memory usage on release of the model should be 6.9 Gb of VRAM.
In the coming period They will release optimized versions of this model along with other variants and architectures with improved performance and quality. We will also release optimisations to allow this to work on AMD, Macbook M1/M2 and other chipsets. Currently NVIDIA chips are recommended.
They will also release additional tools to help maximize the impact and reduce potential adverse outcomes from these tools with amazing partners to be announced in the coming weeks.
This technology has tremendous potential to transform the way we communicate and we look forward to building a happier, more communicative and creative future with you all.
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