AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 127.06 Increased By ▲ 0.02 (0.02%)
BOP 6.62 Decreased By ▼ -0.05 (-0.75%)
CNERGY 4.53 Increased By ▲ 0.02 (0.44%)
DCL 8.58 Increased By ▲ 0.03 (0.35%)
DFML 41.72 Increased By ▲ 0.28 (0.68%)
DGKC 87.40 Increased By ▲ 0.55 (0.63%)
FCCL 32.60 Increased By ▲ 0.32 (0.99%)
FFBL 64.87 Increased By ▲ 0.07 (0.11%)
FFL 10.22 Decreased By ▼ -0.03 (-0.29%)
HUBC 109.35 Decreased By ▼ -0.22 (-0.2%)
HUMNL 14.74 Increased By ▲ 0.06 (0.41%)
KEL 5.13 Increased By ▲ 0.08 (1.58%)
KOSM 7.55 Increased By ▲ 0.09 (1.21%)
MLCF 41.70 Increased By ▲ 0.32 (0.77%)
NBP 59.60 Decreased By ▼ -0.81 (-1.34%)
OGDC 193.00 Increased By ▲ 2.90 (1.53%)
PAEL 28.16 Increased By ▲ 0.33 (1.19%)
PIBTL 7.81 Decreased By ▼ -0.02 (-0.26%)
PPL 151.75 Increased By ▲ 1.69 (1.13%)
PRL 27.15 Increased By ▲ 0.27 (1%)
PTC 15.96 Decreased By ▼ -0.11 (-0.68%)
SEARL 86.02 Increased By ▲ 0.02 (0.02%)
TELE 7.75 Increased By ▲ 0.04 (0.52%)
TOMCL 35.55 Increased By ▲ 0.14 (0.4%)
TPLP 8.20 Increased By ▲ 0.08 (0.99%)
TREET 16.55 Increased By ▲ 0.14 (0.85%)
TRG 53.30 Increased By ▲ 0.01 (0.02%)
UNITY 26.30 Increased By ▲ 0.14 (0.54%)
WTL 1.28 Increased By ▲ 0.02 (1.59%)
BR100 9,989 Increased By 105.1 (1.06%)
BR30 31,165 Increased By 565.3 (1.85%)
KSE100 94,200 Increased By 844.9 (0.91%)
KSE30 29,189 Increased By 257.6 (0.89%)

The SECP has amended the Companies (General Provisions and Forms) Rules, 1985, particularly regarding transfers and further allotments of shares in the companies and has issued a notification in this regard. The amendments are aimed at minimising the growing corporate disputes between shareholders and the management or within the management of companies. The amendments prescribe the detailed procedure for transfer of shareholding in the private company.
The shareholders of the private company shall have pre-emptive right to buy shares offered by any other shareholder. All private and public unlisted companies are required to notify the transfer of shares on prescribed form to the registrar within 15 days from such transfer.
The proposed amendments further bind companies to send offer for new shares to the existing members at least 15 days before the last date of the acceptance of offer. The payment of the shares so accepted by the members shall only be made through normal banking channels. In case of removal of directors under section 181 of the Companies Ordinance, 1984, the proposed amendments prescribe certain documents to be annexed with the return (form-29) to be filed with the registrar for notification of such removal.-PR

Copyright Business Recorder, 2016

Comments

Comments are closed.