Unlisted Companies: Section 157 of Companies Act, 2017 "First director and terms"
Reform ID		F502
Description		The Companies Act, 2017 considered the directors nominated in the memorandum and added in a general meeting are first directors and required them to continue till election at AGM. However, it was proposed that they can continue until any election at a general meeting as per 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		Simplify
Cost Savings PKR (Mil.)
Evidence