Unlisted Companies: Section 234 of Companies Act, 2017 "Unaudited financial statements"
Reform ID		F516
Description		Unlisted companies, not being subsidiary of a public company, having not more than PKR 1 million in paid up capital are required to file duly authenticated financial statements before SECP whether audited or not within 30 days of meeting. However, it was proposed that rather than paid-up capital, the exemption shall be based on the annual turn-over, net assets and number of employees of a company. SECP shall also consult BOI prior to notifying the thresholds.
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