Unlisted Companies: Section 189 of Companies Act, 2017 "Restriction on appointment of chief executive"
Reform ID		F482
Description		Earlier, no person ineligible under Section 153 could be appointed as chief executive, and no person disqualified under Sections 171 and 172 could continue as chief executive. 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