Companies Act, 2017

Companies Act, 2017 From: 2024-07-31 - To: 0000-00-00 THIRD SCHEDULE (Section 224 1[and 225] of the Act) Classification of Companies S. No. Classification Criteria of Company Applicable Accounting Framework Relevant Schedule of Companies Act 1. Public Interest Company (PIC) Sub-categories of PIC: a) Listed Company International Financial Reporting Standards Fourth Schedule 2[(b) Non listed company which is: (i) a public sector company as defined in the Act; or (ii) registered and/or licensed under the Administered Legislation or Rules, or regulations made thereunder, as follows,- a) Non-banking Finance Companies which are Asset Management Companies, Pension Fund Managers, REIT Management Companies or Deposit Taking NBFCs; b) Modaraba Company c) Insurer d) Securities Exchange e) Commodity Exchange f) Central Depository g) Clearing House; or 3[(iia) Securities brokers having license as Trading and Self Clearing or Trading and Clearing category and having custody of customers assets and Professional Clearing Member;] (iii) Registered, notified and/or licensed under the Banking Companies Ordinance, 1962 (LVII of 1962) or Microfinance Institutions Ordinance, 2001 (LV of 2001), as follows: a) Banking Company including Foreign Banking Company b) Microfinance Bank c) Development Finance Institution (DFI) 4[; or] b) 5[(iva)* all companies engaged in production and sale of sugar] ] 2. Large Sized Company (LSC) Sub-categories of LSC a) Non-listed Company with: (i) paid-up capital of Rs.200 million or more; or 6[(ii) turnover greater than Rs. 800 Million]; (iii) Employees 7[750 or more]. International Financial Reporting Standards Fifth Schedule b) A Foreign Company with turnover of Rs. 1 billion or more. c) Non-listed Company licenced/ formed under Section 42 / Section 45 of the Act having annual gross revenue (grants/income/subsidies/ donations) including other income / revenue of Rs.200 million 8[or more]. International Financial Reporting Standards and Accounting Standards for NPOs Fifth Schedule 3. Medium Sized Company (MSC) Sub-categories of MSC: a) Non-listed Public Company with: (i) paid-up capital greater than Rs. 10 million but 9[less than] Rs.200 million;…