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Company Secretarial Practice 2021

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CHAPTER-1: Formation of Companies and matters Incidental Thereto

- Obligation to register certain association, partnership as companies

- Different forms of Businesses.
- Limited Liability Partnership & Related Matters
Procedure for Incorporation of Public Limited Companies having Share Capital
- Proposed name of the company.

- Manner to file combined application.
- Letters of availability of name
- Cancellation of name reserved.
- Refusal of availability of proposed name.
- Prohibition of certain names.
- The words specified are prohibited.
- SECP centralizes approving application.
- Rectification of name of a company.
- Registrar may register new name.
- Change of name by a company procedure.
- No approval is required for change of name

CHAPTER-2: Mode of Forming Company (S.14)

- Types of companies.

- Classification of companies.
- Procedure of registration of a company
- Forms to be filed with the registrar
- Prior approval for registration of Companies
- Application for incorporation of a company
- Public sector company etc etc.

CHAPTER-3: General Provisions with Respect to Registration of Memorandum and Articles of Association.

- Registration of memorandum and articles.
- Documents to be filed.
- Refusal of registration of the company.
- File an appeal against the order of refusal.
- Certificate of incorporation
- Combined procedure for reserving name
- Conditions and contents of memorandum.
- Witnesses
- Article of Association (AOA).
- Option to adopt AOA or Table A
- AOA is a contract.
- Effect of registration of a company.
- Company is legal entity on registration.
- Basic features-incorporate limited company
- Procedure for incorporation of Pvt. Company
- One window facility for registration a Company

CHAPTER-4: Conditions for Commencement of Business by a Company.

- Business may be commenced by Pvt. Company
- Requirements for Commencement of business by a public company.
- The Registrar may register the documents.
- Exceptions to furnish information etc.
- Certificate of receipt of share money.
- Consequences of non-compliance of S.19.
- Forms to be files with the registrar.

CHAPTER-5: Registered Office and Publication of Name

- Purpose of having registered office.

- Change of situation of registered office.
- Penalty for non-compliance.
- Publication of name by a company.
- Company to have common seal.
- Penalties for non-publication of name.
- Publication of authorized/paid up capital.
- Business and objects of a company etc etc

CHAPTER-6: Contents of Memorandum of Association of different Companies.
- Contents of memorandum of a company Limited by shares.
- Principles line of business covers
- Object Clause in memorandum association.
- Classes of share capital.
- Contents of memorandum of company Limited by guarantee
- Memorandum of unlimited company.
- Borrowing powers-a part of memorandum.
- Procedure for alteration in memorandum.
- Petition for alteration of memorandum.
- Exercise of discretion by Commission.
Articles of Association (Aoa)
- Registration of AoA.

- Requirements of an AoA.
- Limitations for alteration of AoA/memo.
- Distinction between Memo and AoA.
- AoA of a private company.
- Alteration of AoA -procedure.
- Copies of memo and AoA to members.
- Form of memorandum and articles.
- Memorandum vs. AoA.
Service and Authentication of Documents.
- Service of documents on a company.

- Service of documents on Commission.
- Service of notice on a member.
- Circulation of reports etc. by companies.
- Notice to joint holders.
- Notice in case of death or insolvency.
- Authentication, documents/proceedings etc etc

CHAPTER-7: Issue of Prospectus, IPOs, Shares and other Securities & Subscription Money paid electronically.

- The Security Act, 2015, defines ‘prospectus’
- Time for issuance of prospectus.
- Making calls of shares.
- Issue of prospectus by foreign company
- Restriction on canvassing for securities.
- SECP revamps public offering framework.
- IPO Regulations, 2017.
- SECP approves GEM
- DFIs/underwriters to submit affidavit.
- Role of consultant to the issue.
- Role of underwriter
- Remedies available to the Allottees.
- Directors not liable for misstatement.
- Contravention is liable for penalty.
- Classes and kinds of share capital.
- Director’s powers to issue share capital.
- Right shares.
- Variation of shareholders’ rights.
- Aggrieved member apply to the Court.
- Order of the Court.
- Abridged prospectus.
- Subscription applications are prohibited.
- Electronic mode of payments.
- Digital transforming IPO- E-IPO System.
- PSXs-IPO System (PES).
- Centralized e-IPO System (CES).
- Digital payments by CDC
- Approval and listing on PSX.
- Approval of prospectus by PSX.
- The directors are liable to refund money.
- Prohibition on issuance of bearer shares
- Concept of direct listing of companies etc etc

CHAPTER-8: Special Provisions to Issue of Debentures, Redeemable Capital & Convertible Debt Securities

- Shareholders Vs. debenture holders.

- Issue of debentures.
- Chief features of debentures.
- Payment of certain debts out of assets.
- Powers and liabilities of trustee.
- Trustee has right to sell property.
- Provision of exempting trustee is void.
- A trustee is entitled to the benefit.
- Issue of securities/redeemable capital.
- Agreement’s terms of redeemable capital.
- The term ‘Sukuk” explained.
- Instruments of redeemable capital etc etc

CHAPTER-9: Allotment, Share Certificates, Transfer of Shares, Application Money & other Securities.

- Application for, and allotment of Shares and debentures.
- Procedure of allotment.
- Refund to unsuccessful applicants.
- Director’s liability to refund.
- Directors are responsible for allotment.
- Allottees’ rights.
- Deposit of application money.
- Refund of money by the company.
- Return as to allotment.
- Shares allotted as paid-up in cash.
- Extension of the time for filing return.
- Penalty for non-compliance.
Share Certificates and other Securities:
- Forfeiture of shares.

- Limitation of time for issue of certificate.
- Procedure-issuance of share certificate
- Issue of duplicate certificate.
- Liability of the company and its officers.
Transfer of Shares and other Securities.
- Limitation to complete transfer.

- Transfer on the security exchange.
- Maintenance of records of transfer.
- Transfer Vs. Transmission of shares
- Forged transfer.
- Board not to refuse transfer of shares.
- Restriction on transfer of shares by the member of a private company.
- Notice of refusal to transfer.
- Transfer to successor-in-interest.
- Transfer to nominee of deceased member.
- Penalty for non-compliance etc etc

CHAPTER-10: Commission, Discount & Premium on further Issue of Shares.

- Application of premium received on issue of shares.
- The share premium account.
- New class of capital.
- Power to issue shares at discount.
- The directors are required to subscribe.
- Sanction of the Commission is necessary.
- Shares at discount, not reduction of capital
- Discount of shares to be published.
- Penalty
- Powers to issue shares at discount
- Further issue of capital.
- Procedure for increase share capital.
- Employees Stock Option.
- Issuance of shares for cash or otherwise.
- Circular to be issued.
- Conversion of loan into shares.
- Notice of increase of share capital.
- Issuance of bonus shares-related matters.
- Issuance of Right shares and other issues
- Payment by non-resident Pakistani.
- Raise of capital beyond authorized capital.
- The director’s obligations.
- SECP enables Startups to offer ESOP Plan.
- Conditions for issue of ESOS.
- SECP’s guidelines-convertible securities etc etc

CHAPTER-11: Invitation of Deposits, Purchase of own Shares and Share Holding by Subsidiary Company.

- Prohibition on acceptance of deposits from public
- Power of company-alter its share capital.
- Objects for alteration in memo.
- Subsidiary company not to hold shares in its holding company.
- Power of a company to purchase its own shares.
- Buy back of own shares
- Communication to the Commission.
- Procedure of purchase of shares.
- Offence etc etc

CHAPTER-12: Reduction of Share Capital, Creditor’s objections, Settlements & Unlimited Liability of Directors.

- Reduction of share capital.
- Powers to purchase and sale of shares.
- Procedure for reduction of share capital.
- Objection by creditors and settlements of list of objecting creditors.
- Diminution of assets.
- Power to dispense with consent of creditor on security being given for his debt.
- Confirmation order of the Court.
- Liability of members in respect of reduced shares.
- Penalty-concealment of name of creditor
- Publication of reasons for reduction.
- Limited company may have directors with unlimited liability.
- Special resolution of limited company making liability of directors unlimited etc

CHAPTER-13: Management, Administration, Register and Index of Members

- Members of a company.

- Register of members.
- Register of debenture-holders.
- Record of unlimited beneficial owner
- Right to inspect and require copies.
- Power of Court to rectify register.
- Punishment for fraudulent entries and omission from register.
- Notice for rectification of register.
- Annual return.

CHAPTER-14: Statutory, General Meeting Proceedings & Resolutions.

- Powers of shareholders Vs. directors
- Statutory meeting of a company and other related matters
- Directors to deliver to the registrar.
- Annual general meeting.
- Timing, place etc. for holding AGM.
- Practice Guide for Conducting Board and General Meetings by SECP.
- Businesses to be transacted at AGM.
- Notes in the notice of AGM.
- Statement of material fact at AGM.
- Listed companies to hold meeting through electronic mode
- Extension for holding AGM
- Shareholder’s conduct in the meetings.
- Extra ordinary general meetings.
- Objects of holding EOGM.
- Notice for holding EOGM.
- Notes in the notice of EOGM.
- Provisions as to meetings and votes.
- Facility of video-link.
- Statement of special business.
- Chairman of the meeting.
- Voting rights.
- Quorum of general meeting.
- Power of the Court to declare proceeding of general meeting invalid.
- Proxies.
- Representation of body corporate or corporation at meetings.
- Guidelines for CDC Account Holder.
- Representation of Federal Government at meetings of companies.
- Notice of resolution.
- Special resolution.
- Ordinary resolution.
- Voting by show of hands-first instance.
- Declaration by chairman-show of hands
- Demand for poll.
- Poll through secret ballot.
- Time of taking poll.
- Resolution passed-adjourned meeting.
- Power of Commission to call meetings.
- Punishment for default in complying with provisions of section 147.
- Passing of resolution by the members through circulation.
- Filing of resolution.
- Records of resolutions and meetings.
- Inspection of records of resolutions and meetings.

CHAPTER-15: Appointment-Election of Directors, Independent and Female Directors, BOD and their Removal etc.

- Powers for the management of a company.
- Ineligibility, to become director.
- Procedure for appointment of directors.
- Minimum number of directors of company
- The directors are trustees.
- Restrictions on number of directorships.
- Representation of minority shareholders.
- Director training program
- Orientation of local and foreign directors.
- Retirement of first, subsequent directors.
- Procedure for election of directors.
- Election of directors, limited by guarantee.
- Procedure of election, documents etc.
- Contesting Independent director
- Appointment of additional director.
- Alternate director.
- Fresh election of director of a listed Co.
- Power of the Court to declare election of directors invalid.
- Term of office of directors.
- Directors’ term under Trade Organization
- Election-directors in unlisted companies.
- Removal of directors.
- Nominee director.
- Certain provisions not to apply to directors representing special interests.
- Manner of selection of independent directors and maintenance of databank thereof.
- Ineligibility independent director.
- Election of an independent director.
- Selection of independent director
- Consent of independent director
- Independent director is mandatory.
- Board of election of independent director.
- Free from conflict interest.
- Conditions for independent director.
- Election of an independent director listed.
- Data bank-chosen independent director.
- Notified institutes for databank by SECP
- Independent director, training program
- Female director.
- SECP directed for gender diversity polices
- Consent to act as director to be filed.
- Validity of acts of directors.
- Restriction on director’s remuneration.
- Formal remuneration policy.

CHAPTER-16: Disqualification of Directors, Executive/Non-Executive Directors by the Commission:

- Disqualification orders.
- Personal liability for company’s debts where person acts while disqualified.
- Prohibition on assignment of office by directors
- Penalty for unqualified person as director.
- Use Video Conference Facility for Board’s
- Ineligibility of bankrupt to act as director.
- Liabilities of directors and officers.
- Protection to independent/non-executive.
- Independent/non-executive directors will be held liable
- Loans to directors.
- Directors shall disclose their interest.
- Responsibilities of directors towards Commission and registrar.
- Prohibition regarding making of political contribution.
- Prohibition regarding distribution of gifts etc etc

CHAPTER-17: Appointment of Chief Executive, Chairman, Secretary, Chief Financial Officer, Head of Internal Audit, their Removal and Share Registrar.

- Appointment of first chief executive.
- Appoint of subsequent chief executive.
- Terms of appointment of chief executive.
- Removal of chief executive.
- Chairman in a listed company.
- Public company to have a secretary.
- Approval of appointment of secretary.
- Qualification of company secretary.
- Role and responsibilities of secretary.
- Removal of a secretary.
- Appointment of CFO.
- Role of CFO.
- Duties and responsibilities of CFO.
- Leadership skill/Innovative.
- The CEO and CFO shall endorse financial Statement of the company.
- Challenges to be faced by the CFO.
- Removal of a CFO.
- Qualification of internal auditor.
- Internal audit team
- Management to establish internal control /audit
- Listed company to have share registrar.
- Bar on appointment of sole purchase, sale agents.

CHAPTER-18: Board of Directors, their Meetings, Functions and Responsibilities.

- Board of Directors’ role.
- Composition of Board.
- Board of Directors’ meeting and related matters.
- Proceedings of the board meetings .
- Records of resolutions and board meetings.
- Passing of resolution by the directors through circulation.
- Board is responsible for governance practice.
- Chief features of CCG 2019
- BOD has limited powers
- Functions and responsibilities of BOD.
- The board shall monitor the company’s policies.
- Annual evaluation of the board’s performance .
- Procedure of approval of capital expenditures.
- Consequences for non-presentation of annual Accounts in the AGM.

CHAPTER-19: Board of Directors Constitute the Committees.

- The Board to ensure adequate controls.
- The Board shall constitute Committees.
- Audit Committee and related matters.
- Human Resources and Remuneration.
- Nomination Committee.
- Risk Management Committee.

CHAPTER 20: Register of Directors & Other Officers, Investment, Contracts, Officers, Shareholdings, Trading & Interests.

- Particulars of directors and officers.
- Investments in associated companies and undertaking.
- Conditions to make investment.
- Limit of return on investment.
- Powers of Commission.
- Banks/DFIs can invest in associated Cos.
- Investments of company be held in its own name.
- Method of contracting.
- Execution of bills of exchange, promissory notes and deeds.
- Company has official seal for use abroad
- Duties of directors.
- Disclosure of interest by directors.
- Interest of officers.
- Related party transactions.
- Related party transaction requires Board approval
- Contract of employment with directors.
- Restriction on non-cash transactions involving directors.
- Declaring a director to be lacking fiduciary behavior.
- Director’s fiduciary position,
- Disclosure to members of directors’ interest in contract appointing chief executive or secretary.
- Contracts by agents of company in which company is undisclosed principal.
- Liability for undesired activities of shareholders.
- Securities and deposits.
- Employees’ provident funds, contributory retirement funds and securities.
- Agriculture Promotion Companies.
- Classification of farm companies.
- Economic growth through agriculture etc etc

CHAPTER-21: Books of Accounts, Financial Statements, Director’s Report and Disclosure Requirements of Companies & Modarabas.

- Maintenance of books of accounts.
- Branch office of the company.
- Books are open to inspection.
- Limitation period to keep records.
- Directors and the CEO are responsible.
- CEO/CFOs to endorse financial statements.
- Inspection of books of accounts the Commission.
- Default in compliance with provisions of section 221
- Financial Statements.
- The IFRS-disclosure requirements.
- Companies to follow IFRS 14
- Audit of the financial statement.
- Circulate audited accounts-electronically.
- Classification of Companies.
- Contents of Financial Statements.
- Commissioner to modify Schedule.
- Corporate reporting in Pakistan.
- Preparation of financial statements.
- Duty to prepare directors’ report and Statement of Compliance.
- Director’s report is mandatory.
- Contents of an annual report.
- Disclosures about Board’s Committees.
- Contents of directors’ report and statement of compliance
- Annexure A-Statement of Compliance.
- Consolidated financial statements.
- Interim financial statement.
- Auditors’ report.
- Rights of holding company’s representative and members
- Financial Statements of modaraba company to include modaraba accounts
- Approval and authentication of Financial Statements.
- Financial statement to endorse by the CEO and CFO.
- Initialing of financial statement by external auditor.
- Compliance by listed companies.
- Filing of unaudited financial statements.
- Quarterly financial statements of listed companies
- Reporting and disclosure requirements.
- Financial reporting/corporate compliance
- Electronically transmission of financial reports.
- Circulation of accounts through e-mail etc.
- Rights of debenture holders to obtain copies of financial statements.
- PSX -introduces ‘Compliance Calendar’.
- ICAP Ethics Code 2019.

CHAPTER-22: Electronically payments of Dividends, Unclaimed Dividends, Shares and Modaraba Certificates etc.

- Procedure of declaration of dividend.
- Dividend to be paid only out of profits.
- Dividend not to be paid except to registered shareholders
- Payment of dividend electrically.
- Share registrar to pay dividends.
- Directors not withhold declared dividend.
- Dividend deemed to have been declared.
- CEO’s responsible for payment of dividend
- Commission may allow withhold dividend.
- Unclaimed shares, modaraba certificates and dividend to vest with the Federal Govt.
- Unclaimed dividend deposit into F.G. A/C.
- Mechanism for payment of unclaimed
- Companies Unclaimed Instruments etc.
- Apply the Commission for unclaimed dividend
- Issues in respect of unclaimed dividends.
- Handling of unclaimed dividends u/s417.

CHAPTER-23: Appointment, Qualifications, Rights, Duties Removal & Rotation, etc. of Auditors.

- Appointment, removal and fee of auditors.
- Appointment of first-subsequent auditor.
- Representation by the retiring auditors.
- Consequences for not appointing auditor
- Remuneration of an auditor.
- Consent of the auditors.
- Director’s recommendation for Appointment of an auditor
- Mandatory conditions for appointment of an auditor by a company.
- Mandatory terms for appointment of external auditors.
- Prohibitions for external auditors.
- Qualification/disqualification of auditors
- Satisfactory rating by the auditor.
- Auditors safeguards shareholders’ interest
- Audit Committee, composition, functions...
- Ineligible persons for appointment auditor.
- An auditor is liable to penalty.
- Auditors’ right to information.
- Duties of an auditor to report facts.
- Auditor of a company to from an opinion.
- Independent auditors’ report of bank.
- Auditors’ responsibilities for the financial statement.
- Audit of cost accounts.
- Penalties

CHAPTER-24: Conversion of a Company of any Class into a Company of other Class and Related Matters.

- Procedure of conversion of private company into public company
- Conversion of private into public company.
- Altered memorandum and articles.
- Conversion of status of private company into a single-member company vice-versa
- Altered memorandum and articles.
- Conversion of status of unlimited company as limited company and vice-versa.
- Conversion of a company limited by Guarantee of a company limited by Shares and vice-versa
- Issue of certificate, effects of conversion
- Filing of altered memorandum and article
- Power of limited company to provide for reserve share capital on conversion of status to a limited company.
- Ceased to be a private company.
- Commission waives the consequences.

CHAPTER-25: Licensing of Association with Charitable and not for Profit objects.

- Procedure for formation of NPOs.
- Procedure for incorporation of company for charitable and public utility purposes
- Licensing of association with charitable and not for profit objects
- Conditions for granting the license.
- Memorandum and Articles Association.
- Commissioners’ powers to revoke license.
- Consequences of revocation of license.
- Penalty.
- Provision as to companies limited by guarantee.
- Right to participate in divisible profit void.
- SECP tightens rules for foreign funding etc.
- Permission from SECP for foreign donation.
- Appointment of an administrator.
- The members are not eligible to hold office
- NPOs be registered self-deregulatory entity
- Right to divisible profit.
- Guarantee of an agreed amount.
- Reserve capital.

CHAPTER-26: Registration of Mortgage, Charges, etc.

- Requirement to register mortgage/charge.
- Particulars in case of series of debentures entitling holders pari-passu.
- Endorsement of certificate of registration on Debenture/certificate of debenture stock.
- Duty of company and right of interested party as regards registration.
- Power of register to make entries of satisfaction and release in absence of intimation form company
- Punishment for contravention.

CHAPTER-27: Powers of Registrar to call for Information, Investigation of Company, Fraud and Related Matters.

- Seizer of documents by registrar, Inspector or investigation officer
- Investigation into affairs of company.
- Serious Fraud Investigation.
- Inspector-a Court for certain purposes
- Power of inspectors to carry investigation into affairs of associated companies.
- Duty of officers to assist the inspector.
- Inspector’s report.
- Prosecution.
- Power of Commission to initiate action against management
- Effect of Court’s order.
- No compensation to be payable for annulment or modification of contract
- No right to compensation for loss of office
- Application for winding up of company or an order under section 286.

CHAPTER-28: Miscellaneous Provisions - Mediation, Arbitration, Arrangements, Reconstruction, Amalgamation, Rehabilitation, Inactive and Defunct Companies etc.

- Imposition of restriction on shares and debentures and prohibition of transfer of shares or debentures in certain cases.
- Power of Commission to facilitate reconstruction or amalgamation of companies Amalgamation
- Notice to be given to registrar for applications under section79 and 282.
- Amalgamation of wholly owned subsidiaries in holding company.
- Amalgamation of subsidiaries.
- Filing of copy of scheme of amalgamation.
- Power to acquire shares of members dissenting from scheme or contract.
- Rehabilitation of sick public sector companies.
- Revival of stressed companies.
- Corporate Rehabilitation Regulations
- Corporate Restructuring Companies (CRC) (Amendments) Bill, 2020
- Inactive company.
- Registrar may strike defunct company off register.
- Easy exit of a defunct company.

CHAPTER-29: Foreign Companies established outside Pakistan, establishment of Places of Business in Pakistan, Offshore & Foreign Direct Investment in Pakistan.

- Application of this Part to foreign Companies
- Foreign companies-defined.
- Documents to be delivered to registrar by foreign companies.
- Requirements after establishment.
- Foreign investment/collaboration.
- Foreign direct investment.
- Agriculture Farming Sector.
- Foreign Companies Regulations, 2017.
- Return to be delivered to registrar by foreign companies whose documents altered.
- Furnishing documents for incorporation.
- Accounts of foreign companies.
- Books of accounts by foreign company.
- Certain obligations of foreign companies.
- Additional requirements for foreign subscribers.
- Security clearance.
- Shareholding limit for foreigners in PSX
- Power of the Commission to require information from foreign companies.
- Furnishing information etc.
- Foreign companies file declaration
- Service on foreign company.
- Company’s failure to comply with this part not to affect its liability under contract.
- Provisions relating to name, inquires to apply to foreign companies.
- Intimation of ceasing to have placed of business to be given.
- Striking name of the foreign company.
- Penalties.
- Interpretation of provisions of this part.
- Issue of prospectus.
- Restriction on canvassing for sale of securities.
- Registration of charges.
- Notice of appointment of receiver.
- Notice of liquidation.
- Companies Global Register of Beneficial Ownership.
- Offshore investments, expats etc.
- Declaration of shareholding in foreign Co.
- Records/disclosure of foreign investment.
- SECP directives for UBO information.
- Free Zone Company.
- Filing of documents through Intermediaries.

CHAPTER-30: General-Sharia Compliant Companies, Free Zone, Offshore Investment, Shariah Accounting & Audit Standards of AAOIFI etc.

- Certification of Shariah compliant Co’s and Shariah compliant. Securities.
- Internal Sharia Audit.
- PSX to conduct screening of companies.
- Minimum Shariah screening criteria’s.
- External audit of Shariah Compliant Co.
- Shariah Accounting and Audit Standards of Islamic Financial Institutions (AAOIFI).
- SBP adopts Shariah Standard of AAOIFI.

CHAPTER-31: Offences relating to Fraud, Money Laundering and Terrorist Financing Fata Requirements.

- Prevention of offences relating to fraud, money laundering and terrorist financing.

- FATA requirements.
- Donation in cash prohibited.
- Regulated persons to submit information to the Commission.
- SECP’s guide lines to implement AML/CFT.
- Reporting requirements.
- Acceptance of advance by real estate Cos engaged in real estate projects.
- Salient features in the section deleted.

CHAPTER-32: Registration Offices, Filing Documents, Electronic Notices, Transfer of Shares, Destruction of Records & Fees etc.

- Registration offices.
- Production of documents by registrar
- Registrar not accept defective ducts
- Special returns to rectify the data.
- Jurisdiction in the dispute relating to share-holding and directorship.
- Approval of transfer of shares by the agents licensed by the Commission.
- Acceptance of documents presented after prescribed time.
- Fees.
- Power to specify fees chargeable by cos.
- Filing of documents electronically.
- Destruction of physical record.
- Supply of documents, information, notices to the members electronically.
- Enforcing compliance with provisions of Act.
- Power of Court trying offences under Act direct compliance with the provisions

CHAPTER-33: Legal Proceedings, Offences, etc.

- Offences to be cognizable.
- Complaint to the court by the Commission, Registrar, member of or creditor in case of certain offences
- Penalty to be imposed by the Commission.
- Adjudication of offences and Standard scale of penalty.
- Review and revision.
- Appeal against order passed by officer of the Commission
- Appeal before the Appellate Bench.
- Powers of the Commission in relation to enquiries and proceedings
- Procedure for trial of a corporate bod
- Recovery penalty.
- Power o to require limited company to give security for costs.
- Penalty for false statement, falsification, forgery, fraud, deception.
- Penalty for false statement.
- Penalty for wrongful withholding of property.
- Liability of directors for allotment of shares for inadequate consideration.
- Penalty carrying on ultra vires business.
- Penalty for improper use if word ‘Limited’
- Penalty where no specific penalty is provided.

CHAPTER-34: Application of Act to Companies Governed by Special Enactments.

- Insurance Companies.
- General Takaful Accounting Regulations 2018 & 2019
- Non-Banking Finance Companies.
- Asset Management Companies.
- Modaraba Companies and Modarabas.

CHAPTER-35: Filing Procedures, Mode and Payment of Fee Schedule, Tables, Forms and General Rules.

- Filing procedures.
- Payment of fee etc. procedure.
- Mode of payment of fee.
- Service of documents on Commission etc.
- Forms.
- Former registration offices and registers continued.

FIRST SCHEDULE-Table A
FOURTH SCHEDULE:
FIFTH SCHEDULE:
SECPs REGULATIONS:


 

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