Corporate Law & Secretarial Practices--Important Sections of the Companies Ordinance 1984 etc.from ACMA Examination point of View--Co-Researchers: Sara Baig & Ridha Zarnish--R&R Research & Publishing Company, Lahore, Pakistan--Resource Person Rehan Aziz Shervani. Cell-0333-4324961

The Companies Ordinance 1984 And Other Laws List Of Important Sections------Paper Corporate Law& Secretarial Practices In Pakistan Co-Researchers---Sara Baig & Rida Zarnish----R& Research COMPANIES ORDINANCE 1984

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Section 202 203

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204A. 205 206 208 209 211 212 213 214 216 217 219

15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31

221 222 224 226 227 230 231 233 234A. 235 236 237 241 242 245 248 250

Description/Title Removal of Chief Executive Chief Executive not to engage in business competing with company’s business. Certain companies to have secretaries and share registrars. Register of directors ,officers etc Bar on appointment of managing agents, sole purchase, and sales agents. Investments in associated companies and undertaking. Investments of company to be held in its own name. Bill of exchange and promissory notes. Executive of deeds. Power for company to have official seal for use abroad. Disclosure of interest by director. Interested director not to participate or vote in proceedings of directors. Declaring a director to be lacking fiduciary behavior. Register of contracts, arrangements and appointments in which directors etc are interested. Duty of directors etc to make disclosure of shareholdings etc. Submission of statements of beneficial owners of listed company. Trading by director, officers and principal shareholders. Securities and deposits etc. Employee’s provident funds and securities. Books of accounts to be kept by company. Inspection of books of account by registrar. Annual Accounts and balance sheet. Special Audit. Treatment of surplus arising out of revaluation of fixed assets. Director’s reports. Consolidated financial statements. Authentication of balance sheet. Copy of balance sheet to be forwarded to the registrar. Quarterly accounts of listed companies. Certain restrictions on declaration of dividend. Dividend not to be paid except to registered shareholders or to their order or to their bankers.

The Companies Ordinance 1984 And Other Laws List Of Important Sections------Paper Corporate Law& Secretarial Practices In Pakistan Co-Researchers---Sara Baig & Rida Zarnish----R& Research

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251 252 253 254 255 256 257 258 259 260 261 297 298 305 309 321 328

Period for payment of dividend. Appointment and remuneration of auditors. Provisions as to resolution relating to appointment and removal of auditors. Qualification and disqualification of auditors. Power and duties of auditors. Reading and inspections of auditor’s report. Signature on audit report. Audit of cost accounts. Penalty for non-compliance with provisions by companies. Penalty for non-compliance with provisions by auditors. Power of registrar to call for information or explanation. Modes of winding up. Liability as contributories of present and past members. Circumstances in which company may be wound up by Court. Provisions as to applications for winging up. Appointment of official liquidator. Statement of affairs to be made to official liquidator.

Section

OTHER LAWS SECURITIES AND EXCHANGE ORDINANCE, 1969

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2 5 15(A)

Definitions Registrartion Prohibition of insider trading

SECURITIES AND EXCHANG RULE, 1971 4

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Maintenance of books of accounts and other documents by the stock exchange

SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN ACT, 1997 5

2

Definitions

The Companies Ordinance 1984 And Other Laws List Of Important Sections------Paper Corporate Law& Secretarial Practices In Pakistan Co-Researchers---Sara Baig & Rida Zarnish----R& Research

6 7 8 9

17 18 20 21

Disclosure of interest by commissioners and members Disqualifications of members and commissioners Powers and functions of commission Functions and powers of the board

THE COMPANIES (ISSUE OF CAPITAL) RULES, 1996 10

8

Issue of shares for consideration otherwise than in cash

SINGLE MEMBER COMPANIES RULES, 2003 11 12 13 14 15

Definitions Change in status of a single member company Secretarial function of company secretary Functions of company secretary prior to incorporation of company Functions of central depositary

Modarba companies & Modarba rules, 1981 16

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Religious Board

NBFC(ESTABLISHMENT®ULATORY)RULES, 2003 17 18 19 20 21 22 23 24

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Definitions Eligibility for the establishment of a NBFC Promoter or sponsor Investment finance services Permission to form a NBFC Financial or chief officer of a NBFC Definitions Qualification of internal auditors & minimum experience

The Companies Ordinance 1984 And Other Laws List Of Important Sections------Paper Corporate Law& Secretarial Practices In Pakistan Co-Researchers---Sara Baig & Rida Zarnish----R& Research