We are pleased to present a Comparative Index of Sections under the newly promulgated Companies Act, 2017 and the repealed Companies Ordinance, 1984 to facilitate the users. The new law has been promulgated on May 30, 2017. Comparative Index of Sections under the Companies Ordinance, 2017 and the. STATUTORY COMPANY companies which are formed under special statutes are termed as statutory companies. These are governed by the Acts or Ordinance through which these are created Example of such type of companies are the state Bank of Pakistan, small Business Finance Corporation, investment Corporation of Pakistan, etc. Date Added Title Download;: Circular No.5 of 2018 (Amendments in circular No.40 of 2016) Download. (Grant of license under section 42 of the Companies Ordinance 1984) Download:: Circular No 30 of 2016 (Bonus share without authorized capital) Download. Open Library is an initiative of the Internet Archive, a 501(c)(3) non-profit, building a digital library of Internet sites and other cultural artifacts in digital form.Other projects include the Wayback Machine, archive.org and archive-it.org. The Companies Ordinance, 1984 iii of a private company, two members 31 SERVICE AND AUTHENTICATION OF DOCUMENTS 48. Service of documents on company 32 49. Service of documents on registrar 32 50. Service of notice on members, etc.
The corporate sector in Pakistan was governed by the Companies Ordinance 1984 which was promulgated on 8 October 1984 andrepealed the Companies Act, 1913. It is now replaced by Companies Ordnance 2016.The Companies Ordinance 1984 is a broad piece of Pakistani legislation that, according to its own preamble, is 'An Ordinance to consolidate and amend the law relating to companies and certain other associations'. It encompasses all legal rules and regulations for businesses registered with Security and Exchange Commission of Pakistan (SECP) and is enforced by that agency.
A company is a corporation. In the eye of law, it is a person which is different from its members. As company is person in the eye of law, it can own property. It can have rights and it can also be subject to the liabilities. A company is not agent of its members. The company cannot sue the members in case of liabilities and members of the company cannot sue it to enforce rights.
Companies Ordinance 32
Main Point of difference between Public and Private Company
- Relevant statute:
- PRIVATE COMPANY -Private company has following restriction while these restrictions does not apply to other companies.(1) It cannot have members more than 50 excluding those are the employees of the company (2) It cannot invite the general public to subscribe the share of the company (3) It restricts freely transfer of share
- PUBLIC COMPANY - Companies Ordinance define the public company as a company that is not a private company. It means every company that is registered in Pakistan either it is a private company or a public company.
The Ordinance also provides legal protection and regulates the business community of Pakistan, with the SECP keeping a close check on financial and corporate entities to insure stakeholder’s interest.Expert choice 11 free download for windows 7.
The previous Companies Act 1913 was in practice for the same purposes.
- ^'Archived copy'(PDF). Archived from the original(PDF) on 6 March 2009. Retrieved 30 August 2009.CS1 maint: archived copy as title (link)