Background of Company Law in Pakistan, Companies Ordinance 1984
At this time the organization industry of Pakistan is actually regulated by way of Companies Ordinance 1984. The background of company law in this subject is significantly over the age of historical past of Pakistan. The United Kingdom approved Companies Act in 1908 which generally brought in a number of essential procedures associated with company organizations. In 1913 right after 5 years, Companies Act 1913 had been approved throughout British India. Pakistan came to exist upon 14 August 1947 and also implemented the companies Act 1913. In 1959 a company Law Commission had been established to come up with laws and regulations as outlined by present times. Statement of Company Law Commission of Pakistan had been released in 1960. Lastly the Companies Act 1913 seemed to be swapped out through the Companies Ordinance 1984.
Most important Targets of Companies Ordinance 1984:
- The main target is usually to combine legal requirements related to companies as well as particular some other organizations.
- 2nd target is to try to guarantee the development of Corporate and business Associations in Pakistan.
- In order to safeguard the traders and lenders. This is significant due to the fact foreign opportunities need much better protection and minimum risks so because of this the purpose of law is to try to conserve all of them.
- Marketing and advertising of investment and progression of financial system.
The Companies Ordinance 1984 (XLVII of 1984)
Download: Companies Ordinance 1984 (pdf format)
Companies Ordinance 1984 Updated (17-03-2011)
Download: Companies Ordinance 1984 (updated) (pdf format)