Authorities With In The Company ( Chapter 1)

Question 1

Describe Members?

Answer 1

Members include:

1. Subscriber to the MOA, who become members of the company on its registration.
2. A person who becomes shareholders of any class or kind of shares in the company, and whose name is entered in the register of members.
3. A person who agrees to become a member of the company, and whose name is entered in the register of members (for company NOT having share capital).

Question 2

What is board?

Answer 2

It means Board of Directors of company.

Question 3

What is meant by an officer in the company?

Answer 3

It includes any Directors, Chief executive, Chief financial officer, Company secretary, share Registrar or other authorized officer of the company.

Question 4

Define the registrar?

Answer 4

Registrar means a registrar, an additional registrar, an additional joint registrar, a joint registrar, a deputy registrar, an assistant registrar or such other officer as may be designated by SECP , performing duties and function under this act.

Question 5

What is The Commission?

Answer 5

The Commission means the Securities and Exchange commission of Pakistan

Question 6

Organization and offices of SECP?

Answer 6

Head office of SECP is in Islamabad

It has 8 regional offices ( called Company Registration Offices ) i.e.
1 in Islamabad,
4 in each provincial capital, and
1 each in Multan, Faisalabad, and Sukkur.

Question 7

Function/ Power of SECP?

Answer 7

SECP has function/ powers to regulate:
1. All the companies.
2. Banking companies and Non banking companies
3. Insurance companies and Modaraba companies