Step | Action | Documentation | Signatures? | Timing | Originals? | Notarization/ Certification? |
Waiver of Step? |
Miscellaneous |
---|---|---|---|---|---|---|---|---|
1 |
Convening of BoD Meeting. |
Convening notice. |
Yes, to be signed by the Company Secretary. |
No specific deadline applies (however, in listed companies, the notice shall be sent at least 7 calendar days prior to the BoD Meeting). |
Yes, original notices are sent via post to those entitled to attend the BoD Meeting (it could also be published in a local newspaper). |
No. |
Yes, if the matter will be decided by an unanimous BoD Resolution. |
|
2 |
BoD Meeting. |
(i) Minutes of the BoD Meeting; (ii) Convening notice to all Shareholders, including draft resolution and statement of material facts. |
Yes, Minutes to be signed by the Chairman of the BoD and convening notice to be signed by the Company Secretary. |
BoD Meeting to be held at least 35 calendar days before the GM (cf. Step 6). Convening notice to be sent at least 21 calendar days before the GM (cf. Step 6). |
Yes, original convening notice to be sent to all Shareholders. |
No. |
No, however, no physical meeting is needed if the matter is decided by an unanimous BoD Resolution. |
|
3 |
Nomination of BoD member. |
No specific requirements. |
Yes, to be signed by the nominating person. |
At least 14 calendar days prior to the GM (cf. Step 6). |
Yes, original notice to be kept with the Company. |
No. |
No. |
|
4 |
Consent for appointment. |
Yes, consent to be included in Form 28 (cf. Step 7). |
Yes, to be signed by the BoD member accepting nomination. |
No later than 15 days calendar from the date of nomination (cf. Step 3). |
Yes, original notice to be kept with the Company. |
No. |
No. |
|
5 |
Notice of intention to contest the election. |
No specific requirements, however, the contents must be in writing. |
Yes, to be signed by the contesting person. |
To be received by the Company at least 14 calendar days before the GM and to be sent by the Company to all Shareholders at least 7 calendar days before the GM (cf. Step 6). |
Yes, original notice to be kept with the Company. |
No. |
No. |
If the Company is listed, notices received by the Company needs to be published at least in one issue of a daily newspaper in English language and a daily newspaper in Urdu language having circulation, not later than 7 calendar days before the GM. |
6 |
GM. |
(i) Minutes of GM; (ii) Ordinary Resolution by the Shareholders. |
Yes, to be signed by the Chairman of the GM. |
At the date stipulated in the convening notice (cf. Step 2). |
Yes, originals to be kept with the Company. |
No. |
No, and a physical meeting is always needed. |
|
7 |
Filing with SECP. |
(i) Form 29; (ii) Form 28. |
Yes, Form 29 to be signed by the CEO (or the Secretary and one other person). Form 28 to be signed by the new BoD member and an authorized officer of the Company. |
Within 15 calendar days from the GM. |
Yes. |
No. |
No. |
1
Step 1
|
2
Step 2
|
3
Step 3
|
4
Step 4
|
5
Step 5
|
6
Step 6
|
7
Step 7
|
|||||||
35-65 days** *However, this can be contained in the >35 days requirement in Step 2. **The need for a physical meeting may take additional time. |
Step | Action | Documentation | Signatures? | Timing | Originals? | Notarization/ Certification? |
Waiver of Step? |
Miscellaneous |
---|---|---|---|---|---|---|---|---|
1 |
Convening of BoD Meeting. |
Convening notice. |
Yes, to be signed by the Company Secretary. |
No specific deadline applies (however, in listed companies, the notice shall be sent at least 7 calendar days prior to the BoD Meeting). |
Yes, original notices are sent via post to those entitled to attend the BoD Meeting (it could also be published in a local newspaper). |
No. |
Yes, if the matter will be decided by a unanimous BoD Resolution. |
|
2 |
BoD Meeting. |
(i) Minutes of the BoD Meeting; (ii) Convening notice to all Shareholders, including draft resolution and statement of material facts. |
Yes, Minutes to be signed by the Chairman of the BoD and convening notice to be signed by the Company Secretary. |
Convening notice to be sent at least 21 calendar days before the GM (cf. Step 3). |
Yes, original notices to be sent to all Shareholders. |
No. |
No, however, no physical meeting is needed if the matter is decided by an unanimous BoD Resolution. |
|
3 |
GM. |
(i) Minutes of GM; (ii) Ordinary Resolution by the Shareholders. |
Yes, to be signed by the Chairman of the GM. |
At the date stipulated in the convening notice. |
Yes, originals to be kept with the Company. |
No. |
No, and a physical meeting is always needed. |
|
4 |
Filing with SECP. |
Form 29. |
Yes, Form 29 to be signed by the CEO (or the Secretary and one other person). |
Within 15 calendar days from the GM. |
Yes. |
No. |
No. |
1
Step 1
|
2
Step 2
|
3
Step 3
|
4
Step 4
|
||||
21-36 days* *The need for a physical meeting may take additional time. |