Unlisted Companies: Section 228 of Companies Act, 2017 "Consolidated financial statements"
Reform ID		F514
Description		The provision requried holding companies to provide consolidated report on all companies as if it were one entity. Private company and its subsidiary, where none of the holding and subsidiary company has the paid up capital exceeding one million rupees, is exempted. However, it was proposed that the threshold shall be significantly enhanced to exempt more companies from this obligation, and SECP to have prior consultation with BOI regarding such notification.
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