Unlisted Companies: Section 133 of Companies Act, 2017 "Extra-ordinary general meetings"
Reform ID		F471
Description		Earlier, a company could call a meeting at any time for matters requiring board approval, and members holding at least 10% voting power (for companies with share capital) or 10% of members (for companies without share capital) could requisition a meeting. If the board did not call the meeting within 21 days, requisitionists could hold it within 90 days. This obligation has now been removed for unlisted companies, whose Board of Directors represents 75% of shareholders and resolves otherwise are exempted.
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