The Company's Ordinance, 1984

For business information, annual reports, laws, ordinances, regulations and articles.

PART VIII
MANAGEMENT AND ADMINISTRATION REGISTERED OFFICE, PUBLICATION OF NAME, ETC.

142. Registered office of company.

143. Publication of name by a limited company.

144. Penalties for non-publication of name.

145. Publication of authorised as well as paid-up capital.

COMMENCEMENT OF BUSINESS BY A PUBLIC COMPANY

146. Restrictions on commencement of business.

REGISTER OF MEMBERS AND DEBENTURE-HOLDERS

147. Register of members and index.

148. Trusts not to be entered on register.

149. Register and index of debenture-holders.

150. Inspection of registers.

151. Power to close register.

152. Power of Court to rectify register.

153. Punishment for fraudulent entries in and omission from register.

154. Notice to register of rectification of register.

155. Register to be evidence.

156. Annual list of members, etc.

MEETINGS AND PROCEEDINGS

157. Statutory meeting of company.

158. Annual general meeting.

159. Calling of extraordinary. general meeting.

160. Provisions as to meetings and votes.

161. Proxies.

162. Representation of corporations at meetings of companies and of creditors.

163. Representation of Federal Government, etc., at meetings of companies.

164. Notice of resolution.

165. Voting to be by show of hands in first instance.

166. Chairman's declaration of result of voting by show of hands to be evidence.

167. Demand for poll.

168. Time of taking poll.

169. Resolution passed at adjourned meeting.

170. Power of registrar to call meetings.

171. Penalty for default in complying with the directions of the registrar for holding the meeting.

172. Filing of resolution, etc.

173. Minutes of proceedings of general meetings and directors.

DIRECTORS

174. Minimum number of directors.

175. Only natural persons to be directors.

176. First directors and their term.

177. Retirement of directors.

178. Procedure for election of directors.

179. Circumstances in which election of directors may be declared invalid.

180. Term of office of directors.

181. Removal of directors.

182. Creditors may nominate directors.

183. Certain provisions not to apply to directors representing special interests.

184. Consent to act as director to be filed with registrar.

185. Validity of acts of directors.

186. Penalties.

187. Ineligibility of certain persons to become director.

188. Vacation of office by the directors.

189. Penalty for unqualified person acting as director, etc.

190. Ineligibility of bankrupt to act as director, etc.

191. Restriction on director's remuneration, etc.

192. Restriction on assignment of office by directors.

193. Proceedings of directors.

194. Liabilities, etc., of directors and officers.

195. Loans to directors, etc.

196. Powers of directors.

197. Prohibition regarding making of political contributions.

CHIEF EXECUTIVE

198. Appointment of first chief executive.

199. Appointment of subsequent chief executive.

200. Terms of appointment of chief executive and filling up of casual vacancy.

201. Restriction on appointment of chief executive.

202. Removal of chief executive.

203. Chief executive not to engage in business competing with company's business.

204. Penalty.

REGISTER OF DIRECTORS AND OTHER OFFICERS

205. Register of directors, officers, etc.

BAR ON APPOINTMENT OF MANAGING AGENTS, SOLE PURCHASE AND SALES AGENTS, ETC.

206. Bar on appointment of managing agents, sole purchase, sales agents, etc.

TERMS OF APPOINTMENT OF MANAGING AGENT

207. Terms and conditions of appointment of managing agent.

MISCELLANEOUS PROVISIONS REGARDING INVESTMENTS, CONTRACTS,
OFFICERS AND SHAREHOLDINGS, TRADING AND INTERESTS

208. Investments in associated companies and undertakings.

209. Investments of company to be held in its own name.

210. Form of contract.

211. Bills of exchange and promissory notes.

212. Execution of deeds.

213. Power for company to have official seal for use abroad.

214. Disclosure of interest by director.

215. Interest of other officers, etc.

216. Interested director not to participate or vote in proceedings of directors.

217. Declaring a director to be lacking fiduciary behavior.

218. Disclosure to members of director's interest in contract appointing chief executive; managing agent or secretary.

219. Register of contract, arrangements and appointments in which directors, etc., are interested.

220. Register of directors' shareholdings, etc.

221. Duty of directors, etc. to make disclosure of shareholdings, etc.

222. Submission of statements of beneficial owners of listed securities.

223. Prohibition of short-selling.

224. Trading by directors, officers and principal shareholders.

225. Contracts by agents of company in which company is undisclosed principal.

226. Securities and deposits, etc.

227. Employees' provident funds and securities.

228. Right to see bank receipts for. money or securities.

229. Penalty for contravention of section 226, 227 or 228.

ACCOUNT

230. Books of accounts to be kept by company.

231. Inspection of books of account by registrar etc.

232. Default in compliance with provisions of section 231.

233. Annual accounts and balance-sheet.

234. Contents of balance-sheet.

235. Treatment of surplus arising out of revaluation of fixed assets.

236. Directors' report.

237. Balance-sheet of holding company to include certain particulars as to its subsidiaries.

238. Financial year of holding company and subsidiary.

239. Rights of holding company's representatives and members.

240. Balance-sheet of modaraba company to include modaraba accounts, etc.

241. Authentication of balance-sheet.

242. Copy of balance-sheet to be forwarded to the registrar.

243. Right of member of company to copies of the balance-sheet, etc. and the auditor's report.

244. Penalty, for improper issue, circulation or publication of balance-sheet or profit and loss account.

245. Half-yearly accounts of listed companies.

246. Power of Authority to require submission of additional statements of accounts and reports.

247. Rights of debenture-holders, etc., as to receipt and inspection of report, etc.

DIVIDENDS AND MANNER AND TIME OF PAYMENT THEREOF

248. Certain restriction on declaration of dividends.

249. Dividend to be paid only out of profits.

250. Dividend not to be paid except to registered shareholders or to their order or to their bankers.

251. Period for payment of dividend.

AUDIT

252. Appointment and remuneration of auditors.

253. Provisions as to resolutions relating to appointment and removal of auditors.

254. Qualification and disqualification of auditors.

255. Powers and duties of auditors.

256. Reading and inspection of auditor's report.

257. Signature on audit report, etc.

258. Audit of cost accounts.

259. Penalty for non-compliance with provisions by companies.

260. Penalty for non-compliance with provisions by auditors.

POWER OF REGISTRAR TO CALL FOR INFORMATION, ETC.

261. Power of registrar to call for information or explanation.

262. Seizure of documents by registrar.

INVESTIGATION AND RELATED MATTERS

263. Investigation of affairs of company on application by members or report, by registrar.

264. Application by members to be supported by evidence and power to call for security.

265. Investigation of company's affairs in other cases.

266. Inspector to be a Court for certain purposes.

267. Power of inspectors to carry investigation into affairs of associated companies.

268. Duty of officers, etc., to assist the inspector.

269. Inspector's report.

270. Prosecution.

271. Power of Authority to initiate action against management.

272. Effect of Court's order.

273. No compensation to be payable for annulment or modification of contract.

274. No right to compensation for loss of office.

275. Application for winding up of company or an order under section.

276. Proceedings for recovery of damages of property.

277. Expenses of investigation.

278. Inspector's report to be evidence.

279. Imposition of restrictions on shams & debentures and prohibition of transfer of shares or debentures in certain cases.

280. Saving for legal advisers and bankers.

281. Enquiries and investigations not to be affected by winding up, etc.

282. Application of sections 261 to 281 to liquidators and foreign companies.

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