Session 1/3 Day 1. Audio Commentary by Anthony Williams (FPFA,LLB). For 1 on 1 discussion call +92-321-4409009, 0321-4409009, 92-42-35925972.

1. Person
Definition

2.  Person.-
 The following shall be treated
 as persons
 for the purposes of this Ordinance,
 namely:–

3.  An individual;
 a company
 or
 association of persons

4.  the Federal Government,
 a foreign government,
 a political subdivision of a foreign
government,
 or
 public international organization.

5.  “association of persons”
 includes
 a firm,
 a Hindu undivided family,
 any artificial juridical person and
 any body of persons formed under a
foreign law,
 but does not include a company;

6.  “company” means –
 a company as defined in the Companies
Ordinance, 1984 (XLVII of 1984);
 a body corporate formed by or
under any law in force in Pakistan;

7.  modaraba;
 a body incorporated by or
under the law of a country outside Pakistan
relating to incorporation of companies;
 a trust,
 a co-operative society or
 a finance society or
 any other society established or constituted by or
under any law for the time being in force

8.  a foreign association, whether
incorporated or not, which the Board has,
by general or special order, declared to
be a company for the purposes of this
Ordinance;
 a Provincial Government;

9.  a local authority in Pakistan;
 or
 a Small Company

10.  “firm”
 means
 the relation between persons
 who have agreed to share the profits
 of a business
 carried on by all or
 any of them
 acting for all;

11. Will the examiner ask Questions about
company
 Please see Q5 (b) March 8, 2008