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Companies Ordinance 1984
The corporate sector in Pakistan was governed by the Companies Ordinance 1984 which was promulgated on 8 October 1984 and repealed the Indian Companies Act, 1913. It is now replaced by Companies Ordinance 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. Introduction 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. Main P ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pakistan
Pakistan, officially the Islamic Republic of Pakistan, is a country in South Asia. It is the List of countries and dependencies by population, fifth-most populous country, with a population of over 241.5 million, having the Islam by country#Countries, second-largest Muslim population as of 2023. Islamabad is the nation's capital, while Karachi is List of cities in Pakistan by population, its largest city and financial centre. Pakistan is the List of countries and dependencies by area, 33rd-largest country by area. Bounded by the Arabian Sea on the south, the Gulf of Oman on the southwest, and the Sir Creek on the southeast, it shares land borders with India to the east; Afghanistan to the west; Iran to the southwest; and China to the northeast. It shares a maritime border with Oman in the Gulf of Oman, and is separated from Tajikistan in the northwest by Afghanistan's narrow Wakhan Corridor. Pakistan is the site of History of Pakistan, several ancient cultures, including the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Preamble
A preamble () is an introductory and expressionary statement in a document that explains the document's purpose and underlying philosophy. When applied to the opening paragraphs of a statute, it may recite historical facts pertinent to the subject of the statute. It is distinct from the long title or enacting formula of a law. In parliamentary procedure using Robert's Rules of Order, a preamble consists of "Whereas" clauses that are placed before the resolving clauses in a resolution (formal written motion). However, preambles are not required to be placed in resolutions. According to Robert's Rules of Order, including such background information may not be helpful in passing the resolution. Legal effect While preambles may be regarded as unimportant introductory matter, their words may have effects that may not have been foreseen by their drafters. France In France, the preamble to the constitution of the Fifth Republic of 1958 was considered ancillary and therefore ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Security And Exchange Commission Of Pakistan
The Securities and Exchange Commission of Pakistan (SECP) (), formerly known as Company Law Administration, Company Law Board, and Corporate Law Authority, is the corporate legislative and financial regulatory agency of Pakistan whose objective is to develop a modern and efficient corporate sector and a capital market based on sound authority principles, in order to encourage investment and foster economic growth and prosperity in Pakistan. The SECP is a collegiate body with collective responsibility. The operational and executive authority of the SECP is vested in the Chairman who is the SECP's chief executive officer (CEO). The Chairman is assisted by four Commissioners to oversee the working of various operational units as may be determined by him. The SECP has nine company registration offices located in Islamabad, Karachi, Lahore, Multan, Peshawar, Sukkur, Faisalabad, Quetta and Gilgit-Baltistan. History The history of the Securities and Exchange Commission of Pakistan (S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Indian Companies Act 1913
The Companies Act 2013 (No. 18 of 2013) is an Act of Parliament, Act of the Parliament of India which forms the primary source of Indian company law. It received presidential assent on 29 August 2013, and largely superseded the Companies Act 1956. The Act was brought into force in stages. Section 1 of this act came into force on 30 August 2013. 98 different sections came into force on 12 September 2013 with a few changes. A total of another 183 sections came into force from 1 April 2014. The Ministry of Corporate Affairs thereafter published a notification exempting private companies from the ambit of various sections under the act. The Act increased the responsibilities of corporate executives in the information technology sector, increasing India's safeguards against organised cybercrime by allowing CEOs and CTOs to be prosecuted in cases of IT failure. The Act established the National Company Law Tribunal (NCLT), which was constituted on 1 June 2016, based on the recommend ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ordinance In Pakistan
Ordinance may refer to: Law * Ordinance (Belgium), a law adopted by the Brussels Parliament or the Common Community Commission * Ordinance (India), a temporary law promulgated by the President of India on recommendation of the Union Cabinet * Emergency Ordinance (Malaysia), a type of emergency decree under the Constitution of Malaysia * Ordinance (university), a particular class of internal legislation in a United Kingdom university * In England during the Civil War, a law passed by parliament without royal assent; see the list of ordinances and acts of the Parliament of England, 1642–1660 ** Self-denying Ordinance, passed by the Long Parliament of England on 3 April 1645 * Legislation made by the Legislative Council of Hong Kong; see also Law of Hong Kong * A royal decree, law promulgated on the monarch's own authority * Delegated legislation for the Australian territories of the Australian Capital Territory and the Northern Territory, passed by the Federal Executive Coun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporate Law
Corporate law (also known as company law or enterprise law) is the body of law governing the rights, relations, and conduct of persons, companies, organizations and businesses. The term refers to the legal practice of law relating to corporations, or to the theory of corporations. Corporate law often describes the law relating to matters which derive directly from the life-cycle of a corporation.John Armour, Henry Hansmann, Reinier Kraakman, Mariana Pargendler "What is Corporate Law?" in ''The Anatomy of Corporate Law: A Comparative and Functional Approach''(Eds Reinier Kraakman, John Armour, Paul Davies, Luca Enriques, Henry Hansmann, Gerard Hertig, Klaus Hopt, Hideki Kanda, Mariana Pargendler, Wolf-Georg Ringe, and Edward Rock, Oxford University Press 2017)1.1 It thus encompasses the formation, funding, governance, and death of a corporation. While the minute nature of corporate governance as personified by share ownership, capital market, and business culture rules diff ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
