RegAlertRule · SECP · 26 Jan 2018
SRO 75(I)/2018 – Notification under section 183 – notifying lease limits
For leasing contracts exceeding one million rupees, the board of a company must exercise powers on behalf of the company through a resolution passed at a meeting. This requirement applies to companies undertaking obligations under such leasing contracts.
GOVERNMENT OF PAKISTAN
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN -.-.- Islamabad, the 25 th January, 2018 NOTIFICATION S.R.O. 75(I)/2018.- In exercise of the powers conferred by section 510 read with clause (j) of sub-section (2) of section 183 of the Companies Act, 2017 (XIX of 2017), the Securities and Exchange Commission of Pakistan is pleased to notify that for undertaking obligations under leasing contracts of amounts exceeding one million rupees, the board of a company shall exercise powers on behalf of the company and shall do so by means of a resolution passed at its meeting. ______________________________________________________________________________ [File No.: CSD/ED/MISC-I/2016]
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