Formation of company in pakistan

Presented to: Miss, Mahwish Sher Presented by: Arif ullah & Wasif ullah

ID #: M463 & M464 Programe:MBA (M)

Department of management sciences Islamia college university Peshawar

HOW TO REGISTER A NEW Company in Pakistan.???????

STEPS AND REQUIREMENTS!!!!

Promotion means to start the business it is the first stage in the formation of company that people who take inetial steps in the formaton of company are called promoters these people prepare the legal documents and takes step for its registration the promoters shall have to observe the legal formalities drafting the following documents…

Memorandum of association An important step in the formation of a

company is to prepare a document called Memorandum of Association. It is the charter of the company that contains the basic conditions on which the company is incorporated

Name it is the legal requirement that a company must state the name of the company

Address a company is required to state the name of the province in which the office is situated its also necessary to give the exact address and name of the city where the company is located

Liability this Claus show the nature of the liability of the members.etc..

These are the regulations that govern the internal management affairs of the company and the conduct of its business.

The Articles are subordinate to the Memorandum of Association.

Amount of share capital issued Rights of shareholders regarding voting

dividend return of capital. Rules regarding issue of shares and

debentures. Procedure as will as regulation in respect of

making calla on share. Procedure of transfer of shares.

Rules regarding appointment of directors, managing directors, agents and secretaries.

Numbers ,qualification, power and liabilities of directors Rules regarding to the winding of the company Matters related to the account and audit etc…

The second stage for formation of company is to get the company registered. for registration of company following documents are submitted registrar for the registration of company.

Memorandum of association Article of association Nominal capital Qualification of shares

List of directors Declaration If the registrar is satisfied with documents

then he will issue certificate of incorporation private limited company can start its business after receiving certificate of incorporation. but a public limited company wait for certificate of commencement.

After the receipt of certificate of incorporation the promoters issue prospectus of the company with a copy of application form for share. Prospectus shows the rules regarding purchase and sale of share and about the mode of payment. A copy of prospectus should be submitted to the registrar.

When the requisite minimum number of share has been subscribed and the qualifying shares of the directors have been paid the company will submit a

declaration to the registrar.

A public company has to received the certificate of commencement before starting the business.

A company submits the following documents to registrar.

Prospectus Minimum subscription Directors shares

After verifying these documents registrar issue a certificate of commencement they can start the business.

Securities and Exchange Commission of Pakistan established under the Pakistan Act 1997

It was operational as a body Corporate on 1st January 1999.

important functions of the SEC is registration of companies.

This task has been entrusted to the Registration Department, Company Law Division which has its field offices known as Company Registration Offices (CROs).

SECP web site (www.SECP.com.pk) Chamber of commerce kpk (member) Introduction to business book (prof,M saeed nasir) http://pakistanilaws.wordpress.com/ Zaman khan vardag (barrister supreme

court of Pakistan) Email:zamankhanvardag@yahoo.com

Cell#: 0092 333 424 1182 (3 pm to 9 pm)

Any Question???????

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