Ch 1: Company: Introduction, Types and Registration
1. The Features of a Company
1-1 Company as Artificial Legal Person [O]
1-2 Transfer of Ownership and Perpetual succession [O]
Query: Sir agr company mn kisi member ki death hojay to legal representatives member bn jaty hyn agr wo na ho to door k relative bn jaty hyn agr wo b na hon to kon hota hh?
Response: Then, it shall be transferred in the name of State (e.g. Pakistan).
1-3 The Concept of Limited Liability [I]
2. Definitions and Types of Company
2-1 Company and Body Corporate [I]
2-2 Types of Company - Members' Liability [I]
2-3 Types of Company - Private vs Public [I]
Query: Is SECP a government?
Response: SECP is independent body corporate. It is accountable to government and government appoints its Commissioners and Board members but SECP and government are not one and same thing.
2-4 Types of Company - Holding & Subsidiary [R]
2-5 Q&A Body Corporate (ICAP Spring 2018) [O]
2-6 Q&A ABC (Pvt) Limited [R]
2-7 Q&A Kaghan Resham Limited [O]
2-8 Q&A Masters Limited (ICAP Spring 2019) [O]
3. Authorities, Officials, Members and Resolutions
3-1 Authorities & Officials in a Company [R]
3-2 Members of a Company [I]
Query: after registration of company subscribe to memrandum become member oky, but if they sell share so they are still member
Response: If a member sells some shares but not all held by him, he would still be member. If a member sells all the shares in a company, his name is removed from register of members and form such date he is not the member of company.
3-3 Resolutions by Members [R]
3-4 Q&A Becoming a member (ICAP Autumn 2019) [O]
3-5 Q&A Special Resolution (ICAP Autumn 2018) [O]
4. Association Not for Profit
4-1 Licensing of association with charitable and NFP objects [R]
4-2 Effect of revocation of licence (of association NFP) [I]
4-3 Q&A Al-Falah Associates [O]
4-4 Q&A Cancer Research Association (ICAP Spring 2020) [O]
4-5 Q&A Distinguishing Criteria Association NFP (ICAP Spring 2021) [O]
5. Registration of a Company
5-1 Obligation to register as company [R]
5-2 Mode of forming a company [R]
5-3 Registration of memorandum and articles [R]
5-4 Effect of registration of company [I]
Query: after registration of company subscribe to memrandum become member oky, but if they sell share so they are still member
Response: If a member sells some shares but not all held by him, he would still be member. If a member sells all the shares in a company, his name is removed from register of members and form such date he is not the member of company.
5-5 Company's business with less than minimum number of members [I]
Query: sir in case of running business with fewer no. of members, will the person paying liability has right to rcover it from other members further in case of a public company there was two members and one was known to fact that no. of members was below the minimum no. in that case both are liable or just one
Response: 1. Yes (later). 2. Just the one who was cognizant of the fact.
5-6 Q&A AB Limited [O]
5-7 Q&A Shahbaz Limited (ICAP Autumn 2019) [O]
5-8 Q&A Mandatory registration (ICAP Spring 2022) [O]
6. Objective Based Q&A