Tuesday, 13 October 2015

Requirements for Registration of Association under Section 42 of the Companies Ordinance 1984

The following are the requirements for the registration of an association under section 42 of the Companies Ordinance 1984.

1.       Registered Office Address (There must be office address of organization)

2.       Objects of Association (What the association will do, its functions and purposes)
3.   Three Directors There shall be at least 3 directors (Copies of their CNIC are required)
4.  Occupation of Directors What is the present occupation (Designation and organization name) of directors forming the association

5.   Share Capital The amount which each director is contributing verbally in the association. That amount can be any such as 10,000 to 100,000. We have to make at least 100,000 basic amount in total. If it is more than 100,000 then incorporation fee increases.
6.  Appointment of Company Secretary There shall be at least one company secretary appointed for one year at the time of incorporation. The company secretary shall be at least MBA or Accountant by qualification. His CNIC copy would be required.
7.         Legal Advisor A legal advisor of the association is mandatory.
8.  National Institution Facilitation Technologies Certificate (NIFT) In online registration NIFT Certificates operate as witness to digital signatures. For that reason we have to fill NIFT forms and pay them 1800 Rupees per director for obtaining digital signatures for filing.
9.     Webmail Address In the NIFT forms we have to provide webmail addresses of each directors. Such as Asif@PCDIA.org .. We cannot use gmail, yahoo, hotmail, etc email addresses. We would be requiring passwords of these email addresses also for downloading digital signatures and working on them. If you do not have these addresses then we can purchase those for you in almost 5000 rupees.
10.      NTN Numbers NTN numbers of directors are required
Feel comfortable to ask us any question at internationalawyerinfo@gmail.com

Salman Yousaf Khan (Golra)
Corporate Lawyer

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Salman Yousaf Khan
International Lawyer