SROS: S.R.O. 1053(I)/93, dated 8-11-1993

COMPANIES(MANAGEMENT BY ADMINISTRATOR)RULES, 1993Gazette of Pakistan, Extraordinary, Part II,8th November, 1993S.R.O. 1053(I)/93, dated 8-11-1993.- In exercise of the powers conferred by subsection (12 of section 295. read with section 506 of the Companies Ordinance, 1984 (XLVII of 1984) and the Finance Division Notification No. S.R.O 698(1)/86, dated the 2nd July, 1986. the Corporate Law Authority hereby makes the following rules, the same having been published previously as required under the said section 506:PART I-PRELIMINARY1. Short title commencement.- (1) These rules may be called the Companies (management by Administrator) Rules, 1993.(.2) They shall come into force at once.2. Definitions.-(1) In these rules, unless there is anything repugnant in the subject or context,-(1) ordinance means the Companies ordinance, 1984 (XLVII of 1984); and(ii) "section" means a section, of the Ordinance.(2) All Other words, terms and expressions used but not defined in these rules shall the shall meaning as are assigned to them in the Ordinance .PART II---REPRESENTATION TO THE AUTHORITY3. Several creditors may join in one representation.---All creditors may be joined in one representation or the representation may be made by one or more creditors whose debt or aggregate debt is not less than sixty per cent. of the paid-up capital of the company.4. Documents to be accompanied with representation.-(1) The representation under rule 3 shall be in the form of an application to the Authority and shall be supported by such information as specified in the Annexure to these rules.(2) A representation shall be accompanied,(a) by supporting documents referred to or relied upon, alongwith certified copies of annual accounts of the company for the preceding three years; and(b) by the original receipt of the fee paid under rule 8.(3) The application shall be in triplicate.5. Register of Representation.-The Authority shall cause the particulars of every application to be entered in a register to be kept for the purpose. called "ËœRegister of Representations under section 295" entries wherein shall be serially numbered in every year and the number in the register shall be endorsed on…