Unlisted Companies: Section 187 of Companies Act, 2017 "Subsequent chief executive"
Reform ID		F480
Description		Earlier, the board was required to appoint a chief executive for three years within 14 days of directors’ election or a vacancy, with casual vacancies filled until the next directors’ election, and the chief executive continuing until a successor took over. This section has now been eliminated for unlisted companies, leaving the matter to be decided as per 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