12-03-2011, 03:27 AM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by Bilal_JF</i>
<br />a private company incorporated this year and will hold first AGM next year. will it file form A to show particulars upto the last date of calender year ie 31 december??
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Yo have raised a very good point indeed. You have based your question on Section 156 of the Companies Ordinance, 1984, that says that when there is no Annual General meeting in a year, Form A shall be made up to last day of the calendar year. There is nothing in the law that may suggest that first year of incorporation is exception to this rule. So strictly according to law newly incorporated company should file Form A as on 31.12.2011
However, the practical position is that SECP does not demand furnishing of Form A for the first year. Probably it has interpreted , at least in practice, that section 156 will be applicable after the 1st AGM will become due in accordance with section 158. So if you don't file Form A at the end of first year of incorporation, SECP will not mind that.
<br />a private company incorporated this year and will hold first AGM next year. will it file form A to show particulars upto the last date of calender year ie 31 december??
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Yo have raised a very good point indeed. You have based your question on Section 156 of the Companies Ordinance, 1984, that says that when there is no Annual General meeting in a year, Form A shall be made up to last day of the calendar year. There is nothing in the law that may suggest that first year of incorporation is exception to this rule. So strictly according to law newly incorporated company should file Form A as on 31.12.2011
However, the practical position is that SECP does not demand furnishing of Form A for the first year. Probably it has interpreted , at least in practice, that section 156 will be applicable after the 1st AGM will become due in accordance with section 158. So if you don't file Form A at the end of first year of incorporation, SECP will not mind that.
