S.R.O. 264(I)/2003, dated 17th March, 2003

SROS: S.R.O. 264(I)/2003, dated 17th March, 2003 DRAFT AMENDMENTS IN THE COMPANIES(GENERAL PROVISIONS AND FORMS) RULES, 1985 Notification No. S.R.O. 264(I)/2003, dated 17th March, 2003.-The following draft of certain amendments in the Companies(General Provisions and Forms) Rules, 1985, which are proposed to be made in exercise of the powers conferred by section 506 of the Companies Ordinance, 1984(XLVII of 1984), read with clause(b) of section 43 of the Securities and Exchange Commission of Pakistan Act, 1997(XLII of 1997), is hereby published as required by sub-section(1) of section 506 of the Companies Ordinance, 1984(XLVII of 1984), for the information of all persons likely to be affected thereby and notice is hereby given that the draft shall be taken into consideration after thirty days of its publication in the official Gazette. Any objection or suggestion which may be received from any person in respect of the said draft before the expiry of the said period, shall be considered by the Securities and Exchange Commission of Pakistan. DRAFT AMENDMENTS In the aforesaid Rules, 1. After existing rule 2, a new rule 2A shall be inserted, namely:-- 2A. Additional particulars to be added/provided by a subscriber under clause(c) of sub-section(1) of section 19 and clause(c) of sub-section(l) of section 27.--In addition to the particulars to be added as contained in clause(c) of sub-section(1) of section 19 and clause(c) of sub-section(1) of section 27, a subscriber shall mention his national identity card number or in the case of foreign national, his passport number: Provided that in case of a person other than a natural person, the address of its registered office or principal office shall be mentioned and the authorized representative signing the documents shall also add his particulars, as stated in this rule. 2. After existing rule 14 a new rule 14A shall be inserted namely:-- 14A. Disqualification for appointment as director under clause(i) of section 187.--The amount of default in repayment of loan to a financial institution, for the purpose of clause(i) of section 187, shall be one million rupees and above.. 3. Aiier rule 14A added as aforesaid, the…