Unlisted Companies: Section 118 of Companies Act, 2017 "Members of a company"
Reform ID		F497
Description		The Companies Act, 2017 has provided definitions for members, shareholders and subscribers. However, the contrast can be confusing when the terms are used under various sections of law. It was proposed to bring harmonization by bringing clarity and allow flexibility for innovative financing options.
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		Simplify
Cost Savings PKR (Mil.)
Evidence