RSM Pakistan's purpose in the release of this document is to provide our valued clients a detail of the significant amendments introduced to the Companies Act 2017 through the Companies (Amendment) Ordinance, 2020 promulgated on April 30, 2020. These amendments were proposed by the Securities and Exchange Commission of Pakistan (SECP) to help promoting and nurturing startups as well as attract local and international innovators. SECP believes that these amendments besides improving ease of doing business in general will also positively impact country’s position in global rankings.
For the ease of understanding we have divided all the significant amendments into three broader categories as:
- Insertions – where a new section/sub-section/provision has been included
- Omissions – where a section/sub-section/provision has been deleted
- Alterations – where a section/sub-section/proviso has been substituted/amended