Unlisted Companies: Section 186 of Companies Act, 2017 "First chief executive"
Reform ID		F479
Description		Earlier, directors nominated in the memorandum continued until the first annual general meeting or for a shorter period determined by members. This section is now eliminated for unlisted companies, whose Board of Directors represents 75% of shareholders and resolves otherwise being 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