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Corporate Law MGT-513: ARSHAD ISLAM Lecturer City University Peshawar Pakistam

Corporate law governs the legal rights and responsibilities of corporations and businesses. It includes laws around the formation, funding, governance, and dissolution of corporations. In Pakistan, corporate law originated from British company law and is now governed by the Companies Ordinance of 1984. This law aims to consolidate corporate laws, promote corporate enterprises and economic development, and protect investors and creditors. It recognizes three main types of companies - companies limited by shares, companies limited by guarantee, and unlimited liability companies. Limited liability companies can be private or public.

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Arshad Islam
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706 views9 pages

Corporate Law MGT-513: ARSHAD ISLAM Lecturer City University Peshawar Pakistam

Corporate law governs the legal rights and responsibilities of corporations and businesses. It includes laws around the formation, funding, governance, and dissolution of corporations. In Pakistan, corporate law originated from British company law and is now governed by the Companies Ordinance of 1984. This law aims to consolidate corporate laws, promote corporate enterprises and economic development, and protect investors and creditors. It recognizes three main types of companies - companies limited by shares, companies limited by guarantee, and unlimited liability companies. Limited liability companies can be private or public.

Uploaded by

Arshad Islam
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Corporate Law

MGT-513
ARSHAD ISLAM; Lecturer City University
Peshawar Pakistam
Corporate law

Definition
• Also known as business law or enterprise
law or sometimes company law
• It is the body of law governing the rights,
relations,
and conduct of persons, companies, organizati
ons and businesses.
•
ARSHAD ISLAM; Lecturer City University
Peshawar Pakistam
Definition
• The term refers to the legal practice of law
relating to corporations, or to the theory
of corporations. Corporate law often describes
the law relating to matters which derive
directly from the life-cycle of a corporation.

• It thus includes the formation, funding,


governance, and death of a corporation.

ARSHAD ISLAM; Lecturer City University


Peshawar Pakistam
Introduction company law
• The word Company is an amalgamation of the
Latin word Com meaning "with or together" and
Pains meaning "bread".
• Originally, it referred to a group of persons who
took their meals together.
• A company is nothing but a group of persons who
have come together or who have contributed
money for some common person and who have
incorporated themselves into a distinct legal
entity in the form of a company for that purpose.
ARSHAD ISLAM; Lecturer City University
Peshawar Pakistam
History of Company Law in
Pakistan
• Today the corporate sector of Pakistan is
governed by Companies Ordinance of 1984.
• The history of corporate law in this region is
much older than the history of Pakistan.
• Great Britain passed Companies Act in 1908
which introduced several important provisions
relating to company administrations.
• In 1913 after five years, Companies Act of
1913 was passed in British India.
ARSHAD ISLAM; Lecturer City University
Peshawar Pakistam
History of Company Law in
Pakistan
• Pakistan came into being on 14 August 1947
and adopted the companies Act of 1913.
• In 1959 a company Law Commission was set
up to make laws in accordance with modern
times.
• Report of Company Law Commission of
Pakistan was published in 1960.
• Finally the Companies Act of 1913 was
replaced by the Companies Ordinance 1984.
ARSHAD ISLAM; Lecturer City University
Peshawar Pakistam
History of Company Law in
Pakistan
Main Objectives of Companies Ordinance 1984
a. Its main purpose is to consolidate the law related with
companies and certain other associations.

b. Second purpose is to make sure the growth of


Corporate Enterprises in Pakistan.

c. To protect the investors and creditors. This is important


because foreign investments require better protection and
minimum risks and hence the objective of law is to save them.

d. Promotion of investment and development of economy.

ARSHAD ISLAM; Lecturer City University


Peshawar Pakistam
Types of Company
• The Companies Ordinance, 1984 provides for three different types of companies:

· A company limited by shares


· A company limited by guarantee
· An unlimited liability company

• Further, under the Companies Ordinance, 1984 two types of limited liability
companies are provided for, namely:

· A private limited company


· A public limited company (which may be listed or unlisted)
· A foreign company

ARSHAD ISLAM; Lecturer City University


Peshawar Pakistam
ARSHAD ISLAM; Lecturer City University
Peshawar Pakistam

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