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The Companies Ordinance 1984 was enacted under Zia's government to protect shareholders, develop investor trust, and maintain integrity standards. It defines a company as one formed and registered under the ordinance. Public limited companies have characteristics like being an artificial person, separate legal entity, perpetual succession, ability to sue and be sued, limited shareholder liability, a common seal, and transferable shares. Limited companies can be limited by shares or guarantee, with limited by shares companies further divided into private limited (2 directors) and public limited (3 directors, 7 if listed) companies.
The Companies Ordinance 1984 was enacted under Zia's government to protect shareholders, develop investor trust, and maintain integrity standards. It defines a company as one formed and registered under the ordinance. Public limited companies have characteristics like being an artificial person, separate legal entity, perpetual succession, ability to sue and be sued, limited shareholder liability, a common seal, and transferable shares. Limited companies can be limited by shares or guarantee, with limited by shares companies further divided into private limited (2 directors) and public limited (3 directors, 7 if listed) companies.
The Companies Ordinance 1984 was enacted under Zia's government to protect shareholders, develop investor trust, and maintain integrity standards. It defines a company as one formed and registered under the ordinance. Public limited companies have characteristics like being an artificial person, separate legal entity, perpetual succession, ability to sue and be sued, limited shareholder liability, a common seal, and transferable shares. Limited companies can be limited by shares or guarantee, with limited by shares companies further divided into private limited (2 directors) and public limited (3 directors, 7 if listed) companies.
Objective of Law Protection of shareholders Develop the trust of investors To maintain the minimum standard of integrity Standard of integrity Company definition: Company means a company formed and registered under companys ordinance and the existing company Characteristics of Public limited Company: Artificial person Separate legal entity Perpetual succession Capacity to sue and being sued Limited liability of shareholders Common seal Transferability Kinds of Company: Limited companies Unlimited companies Limited Companies: Limited by shares Limited by guarantee Limited by Shares: Private limited company (2 Directors) Public limited company (3 Directors) Public limited company: Non-Listed company Listed company (7 Directors)