Unlisted Companies: Section 174 of Companies Act, 2017 "Prohibition on assignment of office by director"
Reform ID		F506
Description		The law allowed no director to appoint a substitute for themselves, and the Board may appoint a substitute if director is abroad for a period of more than 90 days. However, it was proposed that exemption shall be provided to allow directors who proceed abroad to continue working.
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