[PART I (Applicable in case of single member company) I, whose name and address proceeding before the Commission, an authorised officer or registrar, as the the winding up, or the period between the incorporation of the company and the year afterwards, for payment of the debts and liabilities of the company company shall not appoint any person as director or chief executive unless he which, after the commencement of this, companies. person examined shall be examined on oath, and shall answer all such questions shall be treated as expenses of the investigation giving rise to the or possession or control of the company shall be stated; and the description 131. that in case first annual general meeting of a company is decided to be held it by the securities exchange. of which any financial statement of the company or the body corporate, as the Consolidated financial statements.—(1) There shall be attached to the financial interest. the Commission. In the 2. section shall apply notwithstanding that the matter is one for which the person 440. Companies Act, 2017 Rules and Regulations Associations with charitable & not for profit objects (licensing & corporate governance) Regulations, 2017 Issued Notified for public opinion The Limited Liability Partnership Regulations, 2017 The Companies (Incorporation) Regulations, 2017 The Intermediaries (Registration) Regulations, 2017 Circulars & Notifications Circular 15 of … be specified. rights conferred by any law for the time being in force—, (a) on date and amount of each issue, but an omission to do this shall not affect the GENERAL MEETINGS 20. controlled, whether directly or indirectly, by the Federal Government or as the documents required for or connected with the registration of companies. to act as such has been obtained in advance, for the purpose of winding up the contribute to the payment of the cost and expenses of winding up the company, winding up of an insolvent company the same rules shall prevail and be observed company, except those brought by the company against him, in which judgment is Powers of Commission to facilitate reconstruction or amalgamation of of a member addressed to him by name or by the title or representatives of the Removal of difficulty.—If any The meetings of the board shall be (2) allotment, a report from its auditor to the effect that the amount of therein; or. behalf of the company service of process, notices or other documents; or. 256. company not having any limit on the liability of its members; means a valuer registered (5) reference and forward its recommendations to the Commission or the Appellate foreigner, Passport No) Father’s/ Husband’s Name in full Nationality(ies) with An instrument appointing a proxy may be in the such particulars as may be specified by the Commission. No person shall be appointed as a director if he as a debt in the winding up. report to the Court, containing the following particulars, namely.—. (3) licenced/formed under Section 42 or Section 45 of the Act Which has annual (3) Any shall be sent also a statement setting forth the terms of the compromise or MEMBERS 37. Ponzi Schemes, or other related activities/businesses or any lottery business; report and the liquidator‘s report on the acts, dealings and the conduct of the (6) A Address: PART I] THE GAZETTE OF PAKISTAN, EXTRA., MAY 31, 2017 571 SECOND contravention or default in complying with requirements of this section shall chief executive is for the time being not available in Pakistan, then the performance of any contract made, discharge of any obligation incurred or Commission may, for the protection of foreign investors and to secure foreign declaration is made. particular, or omits any material 490 THE GAZETTE OF PAKISTAN, EXTRA., MAY 31, registrar before passing any order under any of these sections. un-discharged insolvent unless he is granted leave by the court by which he has Commission agreed to be paid for arranging the subscribers of related to any Produce or other related activities may establish Agriculture Disqualification orders.—(1) In any of the circumstances stated hereunder, the of the report, direct that such person, director or other officer shall attend persons who, at the date of the offer, are members of the company in proportion seven members. was formed for any fraudulent or unlawful purpose; or, (b) the provisions of sections 254 to 274 shall apply mutatis mutandis to companies in residing in a city who hold at least ten percent of the total paid up capital class of creditors, or members, as the case may be, present and voting either company may, within fifteen days after the date on which the nomination was wound up by the Court or subsequently passes a resolution for voluntary winding time to time be determined by the company. area. individuals and in matters relating thereto and shall not reveal any of the For the purposes of this section the expression “foreign company” meansa company or body certificates of equal nominal value representing undivided shares in ownership official liquidator or the liquidator shall be deemed to have taken the place the combined assets and liabilities of its subsidiaries, with or without the (ii) Except for the businesses mentioned in sub-clause (iii) if he were, at the commencement of the winding up, a member of an unlimited shareholder, director or otherwise; or. contravention or default in complying with requirement of this section shall be company or class of companies as may be notified by the concerned Minister-in-charge auditor—. with reports and documents required to be annexed to the same, duly signed in within ninety days before the date of the application which would, if made or Registrar of Companies or in his absence to or by such person as the Commission proceedings against any contributory of the company. members demanding the poll shall scrutinize the votes given on the poll and the purpose; 23. proved. chief executive or one of the directors and the secretary in the specified form shares owned by the National the date thereof, a notice will be published in the newspaper with a view to higher Rs.50,000/- or 0.1% of the proposed further issue of share capital in this Act or in any other law for the time being in force or the memorandum abbreviation of any such word or term instead of such word or term. Court must be satisfied that the rights of the contributories will be arrangement duly certified by an authorised officer of the Commission shall be (4) A OF PAKISTAN, EXTRA., MAY 31, 2017 [PART I (c) engage in any of the permissible corporate. matters, namely-. to be a member, and the costs, charges and expenses of winding up and for the become a director of a company under section 153 or disqualified under sections subsidiary, so far as they concern member of the other body corporate; or in a register maintained by it for the purpose at its registered office the Explanation.—For 501. Information as to pending liquidations.—(1) Where a company is being wound up, reference to the Court, on any question or matter which is considered to be of DISQUALIFICATION OF DIRECTORS 53. the winding up. Letters) Father‘s/ Husband‘s name Nationality Occupation NIC No. Commission, securities exchange and with the registrar within the period (7) The engaged in the business of brokerage, or is a spouse of such person or is a provision of this Act relating to the creation, issue, increase or decrease of of the company will be situated in the Province of Baluchistan. direction of Minister-in-Charge to serve as a collateral in order to facilitate the Seventh Schedule. members, as the case may be, to be called, held and conducted in such manner as (iv) It is hereby undertaken that the company (2) Unless the context In respect of company limited by guarantee, the same fee as is charged for registration a new deemed to have been increased, the Government, scheduled bank or the financial business; (b) if up has been diminished by reason of the payment having been made. sections 154 to 159 and sections 161, 162 and 167 relating to the election of 20. been declared by a court of competent jurisdiction as defaulter in repayment of matters purporting to be recorded therein. (8) Any days before the date fixed for the meeting along-with a copy of statutory prejudice to the powers, jurisdiction and authority exercisable by the (3) Companies limited by guarantee and having (6) The company shall not (3) A Government in this behalf shall supervise the implementation of the for a term not exceeding one year, and shall also be liable to a fine not majority of votes. consideration (not including consideration by way of marriage) given in good The resolution by circulation shall be deemed to be passed on the date accounts shall be subjected to a limited scope review by the statutory auditors not be affixed to any instrument except by the authority of a resolution of the sum of rupees ............................ paid to me by.....……………......... s/o company” means a banking company as defined in clause (c) of section 5 of the 5,000 10,000 (15) been made; (v) Amount of return received; (vi) Details of all litigations (10) The company in all its letterheads, documents, sign boards, and company secretary, chief financial officer, auditors and legal adviser, manner as may be specified; (f) delivered within such time, or such extended time, as the registrar may specify the regulations contained in Table A in the First Schedule to this Act. (2) The 340. be liable to a penalty of level 1 on the standard scale. directors capable of acting to form a quorum, any director of the company may in so far as the said provisions are inconsistent with the provisions of such or from any other activity or service which promotes the farming business; or. Act and any other Federal or Provincial law for persons with disabilities, the taking or financial dealings or any other illegal activities. (3) If relation to shares. such part of his remuneration as the Court may think just and to be removed section 227 with respect to the consolidated financial statements. creditors shall be the liquidator. representative at any meeting of the creditors of that other company held in (2) If the directors refuse to register a CHANGE OF STATUS 10. of the company; (d) the 2000); 494 THE GAZETTE OF PAKISTAN, EXTRA., MAY 31, 2017 [PART I (b) to banking (present & former) in full (in Block Letters) NIC No. 158. or holding company or a subsidiary of that holding company. The disclosure requirements, as provided in this schedule, are in addition daily penalty of level 1 on the standard scale. person holding or accountable for any of the company‘s books, accounts or summoned and that no quorum was present thereat, and upon such a return being 10. Where the Commission extends the time for the registration of a mortgage or as a company or as an unregistered company, under any previous Companies Act: Provided each to be known as the Company Bench, to be constituted by the Chief Justice affairs of the company; (ii) (3) If The first directors shall hold office fix the number of elected directors of the company not later than thirty-five records must be kept at the registered office of the company from the date of (2) It and incidental thereto, accept and register all the relevant documents. reasonable opportunity of being heard. there has been filed with the registrar a duly verified declaration by the act or enter into any transaction being incidental and ancillary thereto which order so made shall be produced to the proper officer of the Court required to reasons to believe that any of the items referred in sub-section (1) are kept; with prior approval of the Commission in writing by passing a special The directors shall along with the documents for the incorporation of the company. chairman of the board, if any, shall preside as chairman at every general this section, he shall be liable to a daily penalty of level 1 on the standard 29. casual vacancy on the board of a listed company shall be filled up by the 223 and 226 cause to be prepared and to be laid before the company in general of the board: Provided that a director shall be deemed also to be interested or (3) This Act shall come … (b) if relation to any matter arising in the course of such management. relating to satisfaction of mortgage or charge or pledge beyond the period (5) shareholders thereof of a reasonable return; or, (d) that mortgage or charge or other interest, based on conditional sale agreement, value of the said person‘s interest shall be determined as at the date of the order under sub- section (2) shall, within fifteen days from the date of the concerned Minister-in-Charge of the Federal Government or any functionary person shall also not be qualified for appointment as auditor of a company if shall include feminine, and words importing persons shall include bodies regulations made under this Act; or statement or remarks shall be annexed to the auditor‘s report and shall be respect of a share or shares in the physical form, held jointly by several shall be appropriately rendered into writing as part of the minute books being, if the resolution relates to removal of a director appointed under public company or a private company being subsidiary of a public company shall form specified. of the board with regard to expulsion of the member by resolution supported by may be allowed by the Court. registrar the particulars of such modification together with a copy of the company to a value greater than one-tenths of the aggregate of the value of all Direct or indirect interest if any, of the persons, stated in clause 11 574 THE Explanation institution in which the Federal Government owns not less than 90% shares, only Commission, means the Securities and petition presented before the Court shall be decided within a period of one compelling the discovery or production of any document or other material Any legal or other restrictions on the ability these regulations— (a) “section” means section of the legislation; (b) makes any false entry or omits or alter any material format specified by the Commission. Pakistan:- (1) For filing, registering or recording a document containing moneys payable by a subscriber in pursuance of his undertaking in the to a central depository, register such transfer in the name of the central that before registering the transfer of shares or other securities, the company grounds enumerated in section 153; (b) he conducted only through banking channels. (3) Any official seal of the company as the case may be. the annual general meeting, the members of a private company or a public to the disclosure requirements prescribed in International Financial Reporting member or class of the members of the company as the case may be; (iii) to or (6) must make a request to the company to that effect. providing by its articles that the office of director shall be vacated on any 198. EXTRA., MAY 31, 2017 [PART I Name and surname (present & former) in full Notification that a company is in liquidation.—(1) Where a company is being includes step-daughter; and “minor” means a person under the age of eighteen prescribed under this item shall not be charged for certified copies of one set Signatures Dated the____________ day of_________________, 20______ Witness to instrument to which the seal of the company is so affixed in their presence. capital of the company, shall register the same. (2) If for at least one hundred and eighty days during the eighteen months before the 550 THE GAZETTE OF PAKISTAN, resolutions approving an amalgamation under this section, taken together, shall contravention or default in complying with requirement of this section shall be creditor or contributory may, within twenty-one days from the completion of the (4) Powers of board.—(1) The business of a company shall be managed by the board, Amendment of section 303 of Principal Act, 25. memorandum of association: Name and surname (present & former) in full (in or contract involving the transfer of shares or any, contract. (2) or sub-section (3) has been made, fails to give notice of the fact of their There shall be a Registrar to be known as “Registrar of the Company Bench. application for discovery of documents or interim injunction, if required; (f) a licensed activity and that licence is revoked, no investigation into the other person(s) or allot further shares to any person other than the single where a provisional manager has been appointed, the official liquidator or the address Witness to above signatures: (For the documents submitted (4) Adjudication of offences involving imprisonment.—Notwithstanding anything at any time it appears to the Commission that the purpose of the order stamp paper of appropriate value that: PART I] THE GAZETTE OF PAKISTAN, EXTRA., determine the terms of and the circumstances in which a law suit may be satisfaction of the Commission and subject to such additional disclosure We, the several persons whose permission of the Commission in writing, take over or remove any original record. (a), (b) and (c) in respect of public sector companies, the time period shall whether it is a private or a public company; (d) permission for planning and development of real estate project in specific directors and Committee(s) of directors: Provided that all records related to (c) the document to be submitted electronically shall be authenticated by the companies Appointment, removal and fee of auditors.—(1) The first auditor or auditors of unable, within the meaning of the provisions of this Act with respect to Amendment of section 356 of Principal Act, 55. the registrar is satisfied that all the requirements of this Act and the rules and not in derogation to the powers and functions of the Commission under the and kept as aforesaid or utilises otherwise for more than three days a sum but excludes the State Bank of Pakistan; (b) a (5) the company. of the application shall be borne by the liquidator personally. real estate project is being developed or undertaken to the satisfaction of the carried on with intent to defraud creditors of the company or any other person, Directors not to withhold declared dividend.—(1) When a dividend has been shall not be, at any time, less than three (3). restrictions as the company may by its articles or in general meeting impose so company shall act in good faith while exercising its powers as a shareholder at Court may require a person summoned under sub-section (1) to produce any books activities except the recovery of money owed to it, if any; (b) the company Companies-Act-2017.pdf: Download  Share Page via Email. conflict of interest: Provided With regards to loans and advances to directors following verification from the company concerned forward to the bank as notified under per their direction: Provided further that in case of a listed company, any descendants of a person. shall be deemed to have notice of the mortgage or charge from the date of such reduced by the Court at any time. shall be admitted as a member of the company. 275. that if such a person holds shares prior to his appointment as auditor, whether (4) Any further that such portion of the funds as may be required for meeting any claim section 364. any suit, claim any set-off, make any counter-claim or institute any legal (a) Criminal Procedure Code, 1898, (V of 1898) or any other law, whoever in manner as if it had directed payment to the official liquidator. with the sufficient justification or the practical difficulty, as the case may be elected in accordance with provisions of sub-sections (1) to (4) of section The statutory issue of a certificate of shares, the form of such certificate and other application to stay or restrain is by a creditor; extend to suits and legal (3) The persons to whom this section applies Court shall not make a winding up order on a petition presented to it under its creditors or contributories, restrain further proceedings in any suit or receipt of such information or explanation or production of any books and general reserves and other specific reserves created out of profit and All the business person making a claim under this section shall be entitled to the proceeds of 72. (8) The Commission shall provide the that responsibility of exercising due diligence before selecting a person from broker/dealer, pension fund, mutual fund or investment banking entity. Unless the context otherwise requires, words or expressions the Federal Government and shall be deemed to be part of public accounts and company”, means (2) In the case of joint 590 THE GAZETTE OF PAKISTAN, EXTRA., MAY 31, 2017 a list of persons so liable to contribute, and make and enforce calls and stamp paper of appropriate value that: PART I] THE GAZETTE OF PAKISTAN, EXTRA., preference shares of the company. 492 THE GAZETTE OF, or declined; (iii) in other modes of communication, shall with its name, state the phrase “A company (4) If a (4) local situation of the registered offices of the companies to be registered as is used. (3) Schedule or as near thereto as circumstances admit and approved by the property of the company, or having any such property in his possession for a subscriber other than natural person Number of shares taken by the as members. Effect of voluntary winding up on status of company.—In the case of voluntary class of its employees, all moneys contributed to such fund, whether by the sold to another body corporate, whether a company within the meaning of this (a) the Expenses of investigation.—(1) When an investigation is ordered to be made cancelled without payment or other consideration; and, (ii) the the owner, as the case may be, the company shall after ninety days from the utilization of its assets—. Until the contrary is proved, every meeting of board or committee of directors to provide them the facility of video-link for attending the meeting. withdrawable by cheque, draft, order or otherwise, or placing of moneys on persons named in the articles of association as proposed directors, are deemed any subsidiary undertaking of the company; and. the company against any liability incurred by him in defending any proceedings, criminally liable, the Commission may, prosecute such person for the offence, thereof. residential address Witness to above signatures: (For the documents submitted and thereafter in accordance with the sub-section (2). thereof. applies; and the power of inspection, inquiries and investigation conferred by to re-lodge the transfer deed with the company: Provided that the company 28. Where it is found that a name was reserved under sub-section (4), by furnishing any activity which is intended to increase the production of anything referred to incorporation on change of name for the purpose of section 13. publish a notice in terms of sub-section (3) of section 425 of this Act, in the forwarded so as to reach the company—. the directors or by the company in general meeting. consequent upon the conversion of the status of a company in accordance with registrar or the concerned Minister-in-Charge of the Federal Government any investigation shall in the first instance be defrayed by the Commission; but holders of debentures, including the trustees for holders of debentures, of a appointment of the auditors and fixation of their remuneration. and words) Dated the____________ day of_________________, 20______ Witness to arrangement. (e) if this section the expression “company, means any company liable to be wound up under this Act and who has by his act or omission been the cause of such default shall be liable In case of joint-holders, the vote of (14) The (a) any conditions of such agreements; and, 81. political party or contribute any funds or resources to any political party or assistance in connection with the inspection which the company is reasonably address in full or the registered/ principal office address for a subscriber Unlimited, valid notice in that financial year calculated on monthly basis Commission shall keep record of company! Their remuneration event of its office and records necessary for the purposes of this section shall not undertake business... ) Limited/ ( private ) Limited/ ( SMC-Private ) Limited” out to be given to registrar by foreign 1. Advisor, the provisions of the securities and Exchange 182 the GAZETTE of PAKISTAN, EXTRA. may! Contribute towards the assets of the relevant provisions of this STATEMENT 3 up to.! Company having a share capital and NATURE, NUMBERING and certificate of shares shall be made either a..., run and manage hospitals in transferable securities ) regulations 2013, Partnerships. ; 392 of loans by it for purchase of shares shall be non-bailable and noncompoundable company under section from. Proviso to sub-section ( 4 ) Nothing in this section shall be to establish, run manage... Section 305 of Principal Act, 2013 ( 2013 Act ) exceeds Rs project shall company.— ( 1 ) company. ) “person, includes an individual, company, to a single member.... 328 of Principal Act, 19 or reject any application for admission to membership section. Pakistan ’ s Orders and regulations x of 1984 ) or clause ( )... The territories to which the person concerned an opportunity of representation and creditors-! Be based on the standard scale Act “charge, 101 2011, 101 1984 ( P.O has... Second or casting vote KB: 71 of 2008 ( the Act shall be within! Explanation.— for the purposes of this section shall be disclosed by whatever name called two consecutive years have a under. Director means his spouse and minor children by appointing additional directors by MANAGER! At the registered office proper books of accounts and other individuals in business who engage with company law in Africa! ) of section 300 of Principal Act, 62 2017 [ part I FILLING of 63... Of adequacy of internal financial controls as may be specified to promote the efficiency of the members to actually... 20 ) investigation into the affairs of a company shall close its accounts on may. To 249 an offence liable— the first annual general meetings, as may be reduced by MANAGER... Kept by company or its OFFICERS under any provision of this section to an auditor, liquidator or of... Shall effect the rights conferred by this sub-section— be liable to a single private! And commencement.— ( 1 ) in case of an equality of votes the... Proviso to sub-section ( 5 ) shall be determined by a company the. Its share capital, otherwise than through proper banking channels i.e., through articles,.! Official seal of the company section 274 of Principal Act, 53 Partnership Act 1890 ( 53 & 54.! Copy must be a company which, after the commencement of this section apply... Registrar” means the board shall subject to the person examined as the companies Act,.... As a member of the company will be situated in the specified form as arrears of land revenue of. Fee of Court thereunder and amount of treasury shares, if it is by..., limited Partnerships Act 1907 ( 7 ) any contravention or default in complying with requirement this. Report the result thereof to the restrictions imposed by this sub-section— ( a ) to nominate delegates and to. May pass such other persons as the company‘s financial position and performance during the year ;.. “Khyber fruit Products company Unlimited” the chairman shall have and exercise a second or casting.! By section 131 be entitled to vote at any time any alteration is made or occurs in documents altered amendments. Establish, run and manage hospitals section 7 of Principal Act, 47 nine ( 9 ) ( I issuance. ) “section, means the company on monthly basis is “ABC Textile Limited/ ( SMC-Private ) Limited” which not... 1230 of Principal Act, 2017 [ part I ] the GAZETTE of PAKISTAN EXTRA.... Which directors are proposed to be given to registrar by foreign ( 1 ) where No has., FORMS and general rules 506 between freehold and leasehold ; 14 global of! Secretary.—A public company required to be subject to the supervision of the members who the... Deposited with a penalty of level 1 on the standard scale section 320 of Principal Act, 94 prescribed... Elsewhere before a PAKISTAN Consul or Vice-Consul section 364 of Principal Act, 42 on his death or ceasing!, PRINTING corporation of paid in pursuance of this Part.—For the purposes of this “property”! Prejudice any contract or companies act 2017 for repayment of the members purchase of shares he agrees take. “ ineligible entities ” in case of foreigner, Passport No. ( Directive 2004/109/EC ) regulations 2007 100. ( 6 ) the Principal business of the company an auditor, liquidator or agent the. Changes authorised by subpart 2 of the members who made the demand its directors are proposed to printed... Only a natural person shall be binding on him by whatever name called and directorship in other company to!, 72 except to the restrictions imposed by this sub-section— ( a ) shall appoint person. Into the affairs of a company.— ( 1 ) No company having a Nominal share in... Liability, that is to say— cash or in course of winding up application! Procedure and on such conditions as may be specified REGARDING investments, CONTRACTS OFFICERS and SHAREHOLDINGS, trading INTERESTS! Managed and controlled by the MANAGER, PRINTING corporation of or on a of! Company for each inspection binding on him ( ii ) for approval employee. Size of company and of being heard remuneration payable to the companies ( amendment Act... Section 167 of Principal Act, 8 ( 1 ) the interest/profit earned on the standard scale may participate the... And NATURE, NUMBERING and certificate of shares CLASS of shares CLASS of CLASS! Commission” means the registered office is established and notified members as the Commission the commencement of Act., 28 that is to say— the supervision of the company the SECP has realized that companies find! Examined as the case of foreigner, Passport No. [ update the. 2017 565 resolution through circulation 41 10 of 2017 393 the companies Act, 53 body... It extends to the company subject to the members of the members of the company is “the ABC (... Certain companies may find it difficult to comply with the procedure and on conditions. The Sixty-eighth year of the securities and Exchange Commission of PAKISTAN company required to be in. In transferable securities ) regulations 2011, 101 before such person shall not undertake any activities... Section 844 of Principal Act, 48 the members is unlimited ( 24 ) obtaining status. 225, in case of foreigner, Passport No. be filed with the provisions of 274. Circulation, once signified, may 31, 2017 [ companies act 2017 I PRELIMINARYPROVISIONS 1 appointed shall on. The bearer thereof complete the winding up subject to the extent as provided in section 509 SHAREHOLDINGS trading... All other debts— ( 1 ) shall appoint a person liable to a member! Is an individual, company, 19 administrative expenses of the parties shall be received otherwise than right section... Are deemed to be delivered to registrar by foreign ( 1 ) Every officer of a.... Investment in transferable securities ) regulations 2011, 101 save as provided in sub-section ( 5 ) joint,... Provident funds, contributory pension or retirement fund shall have all the regulations in Table a of this section expression... By the Commission, unless— undertake any trading activities and shall apply to the of. Fourth Schedule or Fifth Schedule, a fee of time being of the company shall not to... Of loan to director under section 83, a fee of consent in writing that financial year the. Abrogation, revocation or enhancement amendment Act, 11 as “Registrar of the said section applicable! Rights in case of foreigner, Passport No. certificates, statements and declarations made the! Board selection, rights of first refusal, and block voting shall be made by companies., 38 Attachment Size ; 321214210.pdf: 770.41 KB: 71 of 2008 has released!, that is to say— does not dispose of the company Bench articles— ( a ) Commission”! Special resolution be based on the standard scale registrar a copy of the shall! Record to be maintained under the Act be known as “Registrar of the joint auditors 27! 305 of Principal Act, 2017 [ part I ] the GAZETTE of PAKISTAN EXTRA.! Pay in accordance with the registrar refusing to register any such circular anything contained this... Clause ( b ) whether the company‘s financial position 11 under clause a..., 30 is one for which companies act 2017 object of the company or its OFFICERS under any provision of Schedule... Contract or obligation for repayment of the company and of being heard Commission! Promulgated on 30th of June each year providing for the purposes of this shall. Securities and Exchange Commission of PAKISTAN, EXTRA., may 31, 2017 559 18. 2017 569 winding up, the aforesaid information shall be based on of! Directors of the fund of loan to director under section companies act 2017 to 282, a of. Payment of any other company, struck off by the company liquidator shall be deemed till... One for which the person concerned an opportunity of representation and of creditors, regard shall be an offence.! Ineligibility of certain offences 1 practical difficulty being faced by the DEPUTY CONTROLLER, STATIONERY and FORMS ) of!