There are several types of companies in Pakistan including private companies, public companies, government companies, foreign companies, unlimited companies, producer's companies, and limited liability partnerships. Important company meetings include statutory meetings, annual general meetings, extraordinary general meetings, and class meetings. Key documents required for company registration include the memorandum of association, prospectus, and articles of association. The memorandum confirms the formation of the company. The prospectus provides details about the company and invites the public to subscribe to shares. The articles of association set out how the company will be governed and managed.

1. 1
Assignment
Types of Companies, Meetings and important
documents for company registration
Business Law
Fahad ur Rehman Khan (1496)
Iqra University
Submitted to Syeda Nazneen Waseem

2. Types of Companies, Meetings and Documents 2
Types of Companies
There are the following main types of companies are present in Pakistan, these are
following types of companies are existing;
Private Company:
Private Company, is characterized in section 3(1)(iii) of the Act may issue stock and
have shareholders. However, their shares do not trade on public exchanges and are not issued
through an initial public offering. In general, the shares of these businesses are less liquid and
the values are difficult to determine.
Public Company:
Public Company, is defined in section 3(1)(iv) of the Act and it means a company
which; is not a privately owned business; has a base paid-up capital of five lakh rupees or
such more generously compensated up capital, as may be endorsed; is a privately owned
business which is an auxiliary of an organization which is not a privately owned business.
Government Company:
Government Company, is characterized in segment 617 of the Act and it implies any
organization in which at the very least fifty-one for every penny of the paid-up offer capital is
held by the Central Government, or by any State Government or Governments, or
incompletely by the Central Government and somewhat by one or more State Governments
and incorporates an organization which is an auxiliary of a Government organization as in this
way characterized.
Foreign Company:

3. Types of Companies, Meetings and Documents 3
Foreign Company, is characterized in section 591 of the Act and it implies an
organization which;
a. is consolidated outside India and
b. has built up a position of business inside of India.
Unlimited Company:
Unlimited Company, is characterized in section 12(2)(c) of the Act and it implies an
organization not having any breaking point on the obligation of its individuals. The obligation
of a part reaches out to the entire measure of organization's obligations and liabilities however
the part will be qualified for case commitment from different individuals.
Producer’s Company:
Producer’s Company, is characterized in segment 581A of the Act and it implies a
body corporate having objects or exercises determined in segment 581B and enlisted as
Producer Company under this Act.
Limited Liability Partnership (LLP) Company:
Limited Liability Partnership, It might be noticed that LLP is not a Company under
the Companies Act, 1956 but rather it is characterized under segment 2(1)(n) of the Limited
Liability Partnership Act, 2008 as an "organization framed and enlisted under the Limited
Liability Partnership Act, 2008". LLPs are certain to pay Income Tax under IT Act on lines
like general associations. They are not required to pay profit dissemination impose or extra
charge.
Types of Meetings
Statutory Meeting:

4. Types of Companies, Meetings and Documents 4
An open organization restricted by shares or a certification organization having offer
capital is required to hold a statutory meeting. Such a statutory meeting is held just once in
the lifetime of the organization. Such a meeting must be held inside of a time of at the very
least one month or inside of a period not over six months from the date on which it is qualified
for start business i.e. it acquires declaration of beginning of business. In a statutory meeting,
the accompanying matters just can be talked about:
a. Floatation of shares/debentures by the organization
b. Change to contracts specified in the plan
A notification of no less than 21 days before the meeting must be given to individuals
unless agree is concurred to a shorter notification by individuals, holding at least 95% of
voting rights in the organization.
Annual General Meeting:
Must be held by each sort of organization, public or private, restricted by shares or by
insurance, with or without offer capital or boundless organization, once per year. Each
organization must in every year hold a yearly broad meeting. Not over 15 months must slip
by between two yearly broad gatherings. Notification of the meeting: as per sec.17 (1) of the
section.
Extraordinary General Meeting:
In a few settings, this is known as a Special General Meeting or an Emergency General
Meeting. An Extraordinary General Meeting, normally condensed as EGM, is a meeting of
individuals from an association, shareholders of an organization, or representatives of an
official body, which happens at an unpredictable time.
Class Meeting:

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Class gatherings are gatherings which are held by holders of a specific class of shares,
e.g., inclination shareholders. At such gatherings, these individuals examine the advantages
and disadvantages of the proposition and vote as needs be. Class gatherings are held to pass
determination which will tie just the individuals from the class concerned, and just individuals
from that class can go to and vote.
Important documents for registration of company
Organizations remain the most supported type of business associations in Pakistan
particularly for medium and substantial scale business endeavors. Lawful administration for
foundation and regulation of organizations in Pakistan is given in the Companies Ordinance,
1984. While the capacity of organization of these organizations is vested in the Securities and
Exchange. Commission of Pakistan and the Registrar of Companies selected by the Securities
and Exchange Commission of Pakistan for a Province of Pakistan where such organization is
to be enrolled.
Memorandum
The reminder affirms that the endorsers wish to shape an organization under the
Companies Act and consent to end up individuals from the organization. The notice, which
incorporates an announcement of consistence, must be conveyed to Companies House
together with an application for enlistment of the organization and the new organization's
articles of affiliation. Before the Companies Act 2006 came into power an organization's
update included procurements which now fall inside of the articles, including any
confinements on what the organization could do. For organizations framed before 1 October
2009 these confinements are presently regarded as being a piece of the articles of affiliation
and not the notice.

6. Types of Companies, Meetings and Documents 6
Things included in a memorandum;
 The heading a summary of the relevant facts
 Identification of the legal issues
 A discussion of the law relevant to the legal issues
 Application of that law to the facts a conclusion that is responsive to the legal issues.
Prospectus
A formal authoritative report, which is required by and documented with the Securities
and Exchange Commission, that gives insights around a venture offering available to be
purchased to general society. Segment 2 (36) of the Companies Act characterizes outline as
ought to contain the truths that a financial specialist needs to settle on an educated venture
choice. Otherwise called an "offer document." A record containing point by point data about
the organization and a welcome to the general population subscribing to the offer capital and
debentures is issued. This record is called 'plans. Privately owned businesses can't issue a plan
in light of the fact that they are entirely restricted from welcoming general society to subscribe
to their shares.
The accompanying matters are to be unveiled in a plan:
• Name and full address of the organization.
• Full particulars about the signatories to the reminder of affiliation and the quantity
of shares taken up by them.
• The number and classes of shares. The enthusiasm of shareholders in the property and
benefits of the organization.
• Name, location and occupations of individuals from the Board of Directors or
proposed Directors.

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 The time of opening of the subscription list.
 The nature and extent of interest of every promoter in the promotion of the company.
 The amount payable on application, allotment and calls.
 The particulars of preferential treatment given to any person for subscribing shares or
debentures.
 Particulars about reserves and surpluses.
 The amount of preliminary expenses.
 The name and address of the auditor.
o Particulars regarding voting rights at the meeting of the company.
Article of Association:
The articles of affiliation set out how the organization is run, administered and claimed.
The articles can put confinements on the organization's forces – which may be valuable if
shareholders need comfort that the executives won't seek after specific game-plans, at any rate
without shareholder endorsement. It is an open record, the shareholders might go into a
shareholders' consent to enlarge the articles in connection to the running, administration and
responsibility for organization that they need to keep out of people in general space.
Things included in article of association;
 Liability of members;
 Directors’ powers and responsibilities;
 Directors’ meetings, voting, delegation to others and conflicts of interest;
 Retaining records of directors’ decisions;
 Appointment and removal of directors;
 Shares, unless a limited by Guarantee Company;

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 issuing shares;
 different share classes;
 share certificates;
 share transfers;
 Dividends and other distributions to members;
 Members’ decision making and attendance at general meetings;
 Means of communication;
 Use of the seal, if applicable; and
 Directors’ indemnity and insurance.