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THE SCHEDULE
POWERS
AND FUNCTIONS CONFERRED ON THE AUTHORITY UNDER THE ORDINANCE TO BE EXERCISED
BY THE COMMISSION
(See
clause (o) of sub-section (4) of section 20)
1.
To call for any information, document etc. for purposes of any
proceeding or inquiry (section 12(4) of the Ordinance).
2.
To allow alteration in the Memorandum of Association (section 21
of the Ordinance).
3.
To decide whether a name of a company is appropriate and permissible
(section 37 of the Ordinance).
4.
To grant licence to an association not for profit to be registered
as a company (section 42 of the Ordinance).
5.
To accord approval for conversion of a public company into a private
company (section 44 of the Ordinance).
6.
Approval of prospectus (section 57 of the Ordinance).
7.
To allow issue of securities outside Pakistan (section 62A of the
Ordinance).
8.
To specify minimum amount of shares to be applied
for and the form of application for shares (section 67 of the Ordinance).
9.
To prescribe maximum rate of commission on issue of shares (section
82 of the Ordinance).
10.
To sanction issue of shares at discount (section 84 of the Ordinance).
11.
To grant extension in time for holding AGM in the case of listed
companies (section 158 of the Ordinance).
12.
To allow a company to make a loan to a director (section 195 of
the Ordinance).
13.
To grant exemption for appointment of managing agent and to approve
appointment of sole sale/purchase/distribution agents (section 206
of the Ordinance).
14.
To recover tenderable gains (section 224 of the Ordinance).
15.
To prescribe cost accounting records for manufacturing companies
(section 230 of the Ordinance).
16.
To extend period for laying annual accounts in the AGM by listed
companies (section 233 of the Ordinance).
17.
To direct a change in financial year of holding companies and their
subsidiaries (section 238 of the Ordinance).
18.
To call for additional statements of accounts from companies (section
246 of the Ordinance).
19.
To appoint auditors in certain cases (section 252(6) of the Ordinance).
20.
To conduct investigation into the affairs of the companies (sections
263 and 265 of the Ordinance).
21.
To prosecute a company or person found guilty as a consequence
of investigation (sections 270 and 271 of the Ordinance).
22.
To appoint administrator (section 295 of the Ordinance).
23.
To make application to the Court for winding up a company (section
309 of the Ordinance).
24.
To recommend a panel of persons to the Court for appointment as
official liquidator (section 321 of the Ordinance).
25.
To order restoration of the names of defunct companies (section
439(9) of the Ordinance).
26.
To exercise similar powers in the case of foreign companies (section
457 of the Ordinance).
27.
To accord special permission to take over original documents from
custody of Registrar (section 467 of the Ordinance).
28.
To prescribe additional fees for filing of documents (section 469
of the Ordinance).
29.
To force companies to comply with the provisions of the Ordinance
(section 472 of the Ordinance).
30.
To impose fine as penalty (section 476 of the Ordinance).
31.
To hear appeals against the orders of Registrar (section 477 of
the Ordinance).
32.
To exercise powers of court in relation to enquiries and proceedings
(section 478 of the Ordinance).
33.
To direct appearance of officers of companies (section 479 of the
Ordinance).
34.
To apply amount of fine towards payments of costs, compensations,
etc. (section 483 of the Ordinance).
35.
To hear revision petition against the orders of Registrar, etc.
(section 484 of the Ordinance).
36.
To grant relief in certain cases (section 488 of the Ordinance).
37.
To impose penalty for wrongful withholding of company profit (section
493 of the Ordinance).
38.
To impose penalty for non-compliance with directions (section 495
of the Ordinance).
ABDUL
QAYYUM KHAN
Secretary
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