Rule · SECP · 14 Nov 2017
The Federal Government amends the Companies (Appointment of Legal Advisers) Rules, 1975 by substituting a reference in Rule 2 to the Companies Act, 2017, replacing the prior reference to the Companies Act, 1913. Rule 4 is updated to capitalize the term 'Legal Adviser' wherever it appears. Additionally, Schedule I is replaced with a new register format requiring legal advisers or firms to record details including names, partner counts, CNICs, bar council enrollment numbers, business addresses, remuneration, and appointment dates.
GOVERNMENT OF PAKISTAN
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN -.-.- Islamabad, 13 th November, 2017 NOTIFICATION S.R.O. 1176(I)/2017.- In exercise of the powers conferred by section 8 of the Companies (Appointment of Legal Advisers ) Act, 1974 (X of 1974), the Federal Government is pleased to direct that the following amendments shall be made to the Companies (Appointment of Legal Advisers) Rules, 1975, namely:- In the aforesaid Rules,- (1) In Rule 2, in clause (b), for the expression “ sub-section (15) of section 2 of the Companies Act, 1913” the expression “clause (57) of section 2 of the Companies Act, 2017 (XIX of 2017)” shall be substituted; (2) in Rule 4, for the word “legal adviser”, wherever appearing, the word “Legal Adviser” shall be substituted; and (3) for “Schedule I”, the following shall be substituted, namely:- “SCHEDULE I [See rule 3] REGISTERS OF LEGAL ADVISER Name of the Legal Adviser (If the legal adviser is a firm, name of firm and its partners should be given) Number of partners in case of a firm CNIC of the Legal Adviser appointed or of each partner if the Legal Adviser is a firm Name of Bar Council and enrollment number of the Legal Adviser or of each partner if the Legal Adviser is a firm Business Address Remuneration Date of appointment Date of termination of appointment 1 2 3 4 5 6 7 8 [F.No. SY/SECP/8/13]
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“direct that the following amendments shall be made to the Companies (Appointment of Legal Advisers) Rules, 1975”
“In exercise of the powers conferred by section 8 of the Companies (Appointment of Legal Advisers ) Act, 1974 (X of 1974)”
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