Unlisted Companies: Section 226 of Companies Act, 2017 "Director's Report"
Reform ID		F513
Description		The law required that if an unlisted company is a subsidiary of a public having more than PKR 3 million paid up capital, shall prepare a directors report each financial year. In light of internationals best practices, it was proposed that paid-up capital is not an accurate metric to determine the size of the company. Rather it shall be ascertained by taking into account the company's annual turnover, net assets and number of employees.
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