presentation on formation of company in Pakistan

1.  Presented by:
ARSHAD ISLAM

2. HOWTOREGISTERA NEW Company in
Pakistan.???????
STEPS ANDREQUIREMENTS!!!!

3. Stages in the
formation of
company
Incorporation
stage
Subscription
stage
Commencement
stage
Promotion stage

4.  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…

5.  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

6.  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..

7.  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.

8.  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.

9.  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…

10.  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

11.  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.

12.  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.

13. 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.

14.  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

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

16.  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).

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