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What is the extent of the Companies Act, 2017?
What is the extent of the Companies Act, 2017?
What does 'alter' or 'alteration' include in the Companies Act, 2017?
What does 'alter' or 'alteration' include in the Companies Act, 2017?
What are 'articles' in the Companies Act, 2017?
What are 'articles' in the Companies Act, 2017?
How are 'associated companies' and 'associated undertakings' defined in the Companies Act, 2017?
How are 'associated companies' and 'associated undertakings' defined in the Companies Act, 2017?
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What is 'authorised capital' or 'nominal capital' in the Companies Act, 2017?
What is 'authorised capital' or 'nominal capital' in the Companies Act, 2017?
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What is a 'banking company' in the Companies Act, 2017?
What is a 'banking company' in the Companies Act, 2017?
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What does 'beneficial ownership of shareholders or officer of a company' mean in the Companies Act, 2017?
What does 'beneficial ownership of shareholders or officer of a company' mean in the Companies Act, 2017?
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What is excluded from determining the status of a company, undertaking or person as an associated company, associated undertaking or associated person?
What is excluded from determining the status of a company, undertaking or person as an associated company, associated undertaking or associated person?
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When does the Companies Act, 2017 come into force?
When does the Companies Act, 2017 come into force?
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What is the short title of the Act?
What is the short title of the Act?
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Study Notes
The Companies Act, 2017
- The Act may be called the Companies Act, 2017, and extends to the whole of Pakistan.
- The Act comes into force at once, except for Section 456, which will come into force on a date to be appointed by the Federal Government.
Definitions
- An "advocate" has the same meaning as assigned to it in Section 2 of the Legal Practitioners and Bar Councils Act, 1973.
- "Alter" or "alteration" includes making additions or omissions without substituting or destroying the main scheme of a document.
- "Articles" refer to the articles of association of a company framed in accordance with company law or this Act.
Associated Companies and Undertakings
- Associated companies and undertakings mean two or more companies or undertakings interconnected with each other in specific ways, including:
- Common ownership or control of shares carrying not less than 20% of voting power.
- Common management or control.
- One company being a subsidiary of another.
- A modaraba managed by a company.
Associated Person
- An associated person is someone who owns or controls shares carrying not less than 10% of voting power in a company or undertaking.
- An associated person includes spouses, minor children, and those nominated by the Federal Government or a Provincial Government.
Other Definitions
- "Authorised capital" or "nominal capital" means the maximum amount of share capital authorised by a company's memorandum.
- A "banking company" is defined as in the Banking Companies Ordinance, 1962.
- "Beneficial ownership of shareholders or officers" refers to ownership of securities directly or indirectly held or controlled by officers or substantial shareholders.
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Description
Quiz on the Companies Act, 2017 of Pakistan, covering its definitions and implementation
