Unlisted Companies: Section 76 of Companies Act, 2017 "Restriction on transfer of shares by members of private company"
Reform ID		F464
Description		Earlier, members of a private company had to notify the board of their intention to transfer shares, which could then be offered to other members proportionally or sold outside if not taken. Now the existing section has been ammended for unlisted companies by adding two provisos to allow share transfers in accordance with the articles of association based on an agreement among shareholders.
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