Unlisted Companies: Section 81 of Companies Act, 2017 "Application on premium on shares"
Reform ID		F465
Description		Earlier, companies were required to keep the premium received on shares in a special account to cover preliminary expenses, commission or discount on shares, premium on redemption of preference shares, and to issue bonus shares. The requirement to maintain a special account has been eliminated for unlisted companies, with the remaining matters left to the articles of association.
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