Documentos de Académico
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GROUP MEMBERS:
PRELIMINARY
1. Short title, extent and commencement 1. This Ordinance may be called the Companies Ordinance, 1984 2. It extends to the whole of Pakistan. 3. It will come into force at once and the remaining provisions of this Ordinance shall come into force by Federal Govt. by notifications in future.
PRELIMINARY
3. Meaning of "subsidiary" and "holding company"
MEMORANDUM OF ASSOCIATION
19. PRINTING, SIGNATURE, ETC. OF MEMORANDUM
c. dated.
MEMORANDUM OF ASSOCIATION
20. RESTRICTION ON ALTERATION OF MEMORANDUM
A company shall not alter the conditions contained in its memorandum except in the cases and in the mode and to the extent specified in this Ordinance.
MEMORANDUM OF ASSOCIATION
21. ALTERATION OF MEMORANDUM
The alteration shall not take effect until and except in so far as it is confirmed by the Commission on petition:
ARTICLES OF ASSOCIATION
27. PRINTING, SIGNATURE, ETC., OF ARTICLES
c. dated
ARTICLES OF ASSOCIATION
28. ALTERATION OF ARTICLES
A company may alter Articles of Association only if the condition is mentioned in Memorandum
It shall be carried out only if a majority of at least threefourths of the members OR If there is sufficient votes by the Members affected by such Alteration
The alteration shall not take effect until and except in so far as it is confirmed by the Commission on petition:
CONTINUE
4. In Case of any Blame over the Name of Company, The provisions of this section says that the decision of the Commission shall be final
CONVERSION OF COMPANIES
44. CONVERSION OF PUBLIC COMPANY INTO PRIVATE COMPANY
A Public Company can be change to Private and Private company into Public Limited only if there is the Prior written approval of the Commission in writing The Commission may impose certain Conditions in this behalf
DISCOUNT on shares
84. POWER TO ISSUE SHARES AT A DISCOUNT: 1. Only allowed if it is
a. Authorized by resolution passed in AGM b. The resolution must specify the maximum rate1 of discount, at which shares are to be issued
c. d. After one year of commencement Share on discount can be issued only when issue is sanctioned
2. Issue of shares at a discount shall not be deemed to be reduction of capital. 3. Balance sheet and other Statements must have the Discount value in all
Not exceeding 10 % or a higher rate fixed by the Authority" by Companies (Amendment) Ordinance, 2002.
DIRECTORS
174. MINIMUM NUMBER OF DIRECTORS
SM
shall have at least one director;
PVT LTD
private company shall have not less than two directors;
DIRECTORS
176. FIRST DIRECTORS AND THEIR TERM
After selection in AGM of the Director, He can continue for Three Years Until he not Resign He becomes disqualified
In any of below cases while making a false Statement about a company shall be punishable with fine not exceeding one hundred thousand rupees.
Report, Certificate, Balance Sheet, Profit And Loss Account, Income And Expenditure Account, Prospectus, offer of shares, books of accounts Explanation required by or for the purposes of any of the provisions of the Company Documents
Omits any material fact knowing it to be material
(Aquedate Disclosure)
In any Above Case, The Company will be liable to a fine not exceeding fifty thousand* rupees and,
In the case of a continuing offence, the company will liable to a further fine not exceeding five hundred* rupees Each Day.