Unlisted Companies: Section 177 of Companies Act, 2017 "Ineligibility of insolvent to be director"
Reform ID		F478
Description		Earlier, an insolvent or bankrupt person was ineligible to be a director, with violation punishable by a two-year sentence and a fine. This section has now been eliminated for unlisted companies.
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