Unlisted Companies: Section 16 of Companies Act, 2017 "Registration of memorandum and articles of association"
Reform ID		F451
Description		Earlier, the memorandum and articles of association were required to be registered, with a nominated director submitting a declaration of compliance and all subscribers signing the documents before a witness. Now, the requirement for a memorandum of association is eliminated for unlisted companies, the articles of association are retained, and all crucial information is required to be included in the articles.
Department		Securities and Exchange Commission of Pakistan (SECP)
Jurisdiction / Location		Federal - Entire Pakistan
Sector		All Sectors
Start Date
Target Deadline
Date Enacted
Implementation Status		In Progress
Progress		25%
CCORR Direction		Eliminate
Cost Savings PKR (Mil.)
Evidence