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Business Law Presentation comapny formation.pptx
1. Business Law Presentation
How to form a virtual public company
GROUP MEMBERS:
ARMUGHAN AHSAN (20L-0370)
MIRZA MOIZULLAH BAIG (19L-0386)
FARZAN JAFAR (19L-0419)
ZAIN AKRAM (20L-0367)
2. Overview
•Types of companies
•Documents to be filled for online registration of public company
•Registering a company name
•User registration and pin generation
•Application for reservation of name
•Application for company Incorporation and Reservation
•Memorandum of association
•Articles of association
3. Types of companies
•Single Member Company
A private company with only one member or director and the benefits
of limited liability.
•Private Limited Company
A private limited company is any type of business entity in "private"
ownership used in many jurisdictions, in contrast to a publicly listed
company, with some differences from country to country.
•Public Limited Company
A PLC designates a company that has offered shares of stock to the
general public. The buyers of those shares have limited liability, meaning
that they cannot be held responsible for any business losses in excess of
the amount they paid for the shares.
4. Documents to be filled for online
registration of public company
Online submission of application through E-Services
(https://eservices.secp.gov.pk/eServices/);
•Creation of User ID and Password:
•Filling of application form for name reservation or name reservation and
company incorporation (combined)
•Attachment of memorandum and articles of association, however in
case of combined process memorandum and articles of association are
auto generated.
•Attachment of copies of CNICs /passport of directors/subscribers
•Submission of process (Please note that all subscribers are required to
sign the process separately).
5. Registering a company name
Log in to e-services on the SECP website.
Pakistani nationals need a valid CNIC, and foreign nationals need a valid
passport.
Select the ‘Fast Track Registration Services (FTRS)’ for same-day registration
services.
Provide the required information on the online form and submit it.
You will receive a security code on your phone or email as selected by you.
A PIN will be generated once the security code is verified.
The challan form will be generated, which can be deposited in the selected
branches of MCB or UBL (or the fee can be deposited online via your credit
or debit card).
If there is no prohibited word in the company name, you will receive a
confirmation within a day that the company name has been reserved on
your credentials.
6. User Registration and Pin Generation
• User Registration as Pakistani or Foreign National
• CNIC verification from NADRA
• Security Codes verification
• PIN Generation
8. User Registration and Pin Generation
Provide Security Codes
PIN received
PINGeneration
Match Security Codes
Generate PIN and send it
through SMS and Email
Security Codes verification
9. Application for name reservation
•Introduction
•Log on to Eservices
•Enter information
•Application details
•Declarant
•Director/subscriber
•Company information
•Signatory
•Attach documents
13. Memorandum of association
• Constitution of a company
• Main document which provides information about
name
situation of registered office,
objects,
liabilities and
capital of a company
• Company cannot be incorporated without having a Memorandum of
Association
16. Articles of Association
• Discuss, deal, negotiate, and communicate with the Government
authorities
•Deal private individuals in all matters concerning or affecting the
business of its members. It shall have
• Power to appoint representatives
•Open branches or other activities aimed at advancing the objects of the
Association
