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030123
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN, ISLAMABAD
Circular No. 3
Reference No. 6(90)R.M.2000-54
January 23 , 2003
Appointment of Director/Chief Executive in the Modaraba Companies.
The Chief Executives
of all Modaraba Companies
In terms of this office Circular No. 7/2000 dated May 25, 2000, all the Modaraba Companies submit applications for appointment of Director/Chief
Executive under conditions of Registration Certificate issued to the Modaraba Companies under section 6 and 11 of the Modaraba Companies and Modaraba
(Floatation and Control) Ordinance, 1980.
In order to ensure that the incumbent director/chief executive are fully aware of their obligations and responsibilities as defined under the Modaraba
Ordinance, 1980, Modaraba Companies and Modaraba Rules, 1981, Code of corporate governance and other corporate laws, it has been decided that the
Modaraba Companies while submitting the documents as prescribed vide this office Circular No. 7/2000, shall also submit a Consent of the proposed
director on the enclosed prescribed format duly signed by him and verified by the Chief Executive under his signature and office stamp. The Chief
Executives of all the Modaraba Companies are directed to comply with these instructions.
(Umar Hayat Khan)
Registrar
Modaraba Companies and Modaraba
The Registrar Modaraba,
Securities and Exchange Commission of Pakistan,
NIC Building, Jinnah Avenue,
Islamabad
CONSENT TO BECOME DIRECTOR OF *( )
I, -------------------- S/o ------------------- hereby give my consent to become director on the
board of *(------------------------) managers of **(-----------------------). I do solemnly and sincerely declare that I am aware of the duties and
responsibilities of director under the Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980, Modaraba Rules, 1981, prospectus of
**(-------------------------), the Companies Ordinance, 1984, the listing regulations of stock exchanges and the provisions of the Code of Corporate
Governance and have read the relevant provisions contained therein. I also know that I am liable to be held responsible jointly and severally as a
non-executive/executive member of the board for contravention and violation of the prospectus, Code of Corporate Governance, Modaraba Ordinance,
Modaraba Rules and Regulations and provisions of the Companies Ordinance, 1984 etc. committed by the management of the Modaraba during the tenure of
my directorship. I shall discharge my statutory and fiduciary duties honestly as a member of the Board of Directors.
2. Verified that the above is true to the best of my knowledge and belief and that nothing has been concealed.
Verified by me |
(Signature of the proposed director) |
*Name of management company
** Name of the modaraba
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