GOVERNMENT OF PAKISTAN
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN -.-.-.-

Islamabad, the 16th February, 2024

NOTIFICATION

S.R.O. (I)/2024.- In exercise of the powers conferred by section 507 of the Companies Act, 2017 (XIX of 2017), the Securities and Exchange Commission of Pakistan is pleased to make the following alterations to the First Schedule to the said Act, namely: -

In the aforesaid Schedule, in Table F, in the section, Article of Association, in Clause 65, (Supplementary provision relating to Tax), for sub-clause (ii), the following shall be substituted, namely:-

“(ii) The company shall, in the event of its dissolution, after meeting all liabilities, transfer all its assets to another company licensed under section 42, preferably having similar or identical objects to those of the company, which is an approved non-profit organization, and intimation of such transfer will be given to Commissioner, Federal Board of Revenue, within ninety days of the dissolution.”.

[File No. CLD/CCD/PR(11)/2017]

( Ejaz Alam Khan )
Joint Director (CS)