January 13, 2017

Types of companies allowed to be registered under companies’ ordinance 1984

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Types of companies allowed to be registered under companies’ ordinance 1984

Types of companies allowed to be registered under companies’ ordinance 1984:

Companies’ ordinance 1984 has specified various type of companies that can be registered:

  1. Statutory Company:
  2. Chartered company
  3. Government Company
  4. Registered Company
    1. Company Limited by Shares:
    2. Company Limited by Guarantee
    3. Unlimited company

As per companies’ ordinance, 1984 the companies that are under special statues are normally termed as statutory companies. Once the statutory companies are registered then they are governed by the statues or acts or ordinance through which these companies are registered in Pakistan. A most common example of this type of company is State Bank of Pakistan.

Chartered companies

as per the provisions of companies’ ordinance 1984 are those companies that are constituted under special charter granted by Government of Pakistan. An example of chartered company is East India Company.

Under the provisions of companies’ ordinance 1984 Government companies are those companies in which more than 51% of share are owned by Government. An important point worth mentioning here is that if any company is subsidiary of Government Company it automatically becomes Government Company.

Registered companies

as per provisions of companies’ ordinance, 1984 are those companies which are registered under any provision of companies’ ordinance. These companies are normally classified under three categories:

As per companies ordinance 1984 limited companies are those companies in which the liability of the members is limited to the amount of any unpaid on the shares.

Under companies ordinance 1984 company limited by Guarantee are those companies in which the liability of members is limited to the amount of any amount that member have guaranteed to contribute in the event of winding up of company.

Although this type of company is not allowed to register currently however for the purpose of information unlimited company are that type of company in which the liability of member is not restricted to the amount of capital.

The last point worth mentioning here is that these are types of companies by virtue of legal form and there are also different types of companies with reference to article of association which are motioned in another article.

Other useful articles on the website:

Company registration in Pakistan, company registration Pakistan, company registration, how to register company in Pakistan, partnership registration in Pakistan, sole proprietor registration in Pakistan