Board Resolution For Incorporation Of Company for Pakistan

Board Resolution For Incorporation Of Company Template for Pakistan

A formal corporate document required under Pakistani law, specifically the Companies Act 2017, that records the decisions and authorizations made by the initial board members/subscribers for incorporating a new company. The resolution documents crucial decisions including the company name, registered office location, appointment of key officers, share capital structure, and other foundational aspects required by the Securities and Exchange Commission of Pakistan (SECP). It serves as a legal record of the company's formation and initial corporate governance decisions, ensuring compliance with Pakistani corporate law requirements.

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What is a Board Resolution For Incorporation Of Company?

A Board Resolution For Incorporation of Company is a fundamental corporate document required when establishing a new company in Pakistan. It is typically prepared during the initial stages of company formation and must comply with the Companies Act 2017 and SECP regulations. The resolution serves multiple purposes: it formally records the decisions made by the initial board members or subscribers, authorizes specific individuals to proceed with the incorporation process, and establishes the basic corporate structure and governance framework. The document is essential for company registration with SECP, opening bank accounts, and establishing the company's legal existence. It must include specific details about the company's structure, shareholding, management, and operations as required by Pakistani corporate law.

What sections should be included in a Board Resolution For Incorporation Of Company?

1. Title and Date: Specifies the type of resolution and date of the meeting

2. Meeting Details: Information about meeting time, place, and attendees

3. Quorum Confirmation: Confirmation that the required quorum was present for the meeting

4. Company Details: Proposed company name, registered office address, and type of company

5. Board Members: Names and details of initial directors/board members

6. Business Objects: Main objects and business activities of the company

7. Capital Structure: Authorized and paid-up capital, share structure details

8. Incorporation Authorization: Authorization to proceed with company registration

9. SECP Filing: Authorization for filing necessary documents with SECP

10. Bank Account: Resolution to open company bank account and authorized signatories

11. Appointment of Officers: Appointment of initial Chief Executive, Company Secretary, and other key officers

12. Certification: Certification of the resolution by the Chairman/Company Secretary

What sections are optional to include in a Board Resolution For Incorporation Of Company?

1. Foreign Investment: Required when there are foreign shareholders or investment, detailing compliance with foreign investment regulations

2. Special Business Activities: Required when company needs special licenses or permissions for specific business activities

3. Branch Office: Required when company plans to establish branch offices immediately upon incorporation

4. Share Transfer Restrictions: For private companies wanting to include specific share transfer restrictions

5. Additional Regulatory Compliance: Required for specific industries like financial services or insurance

6. Shareholder Agreement Reference: When incorporating provisions or references to a separate shareholder agreement

What schedules should be included in a Board Resolution For Incorporation Of Company?

1. Schedule A - Subscriber Details: Detailed information about initial subscribers/shareholders including their shareholding

2. Schedule B - Directors' Information: Detailed information about directors including their DIN, addresses, and shareholding

3. Schedule C - Objects Clause: Detailed description of company's objects and proposed business activities

4. Schedule D - Share Capital Structure: Detailed breakdown of share classes, rights, and capital structure

5. Appendix 1 - Specimen Signatures: Specimen signatures of authorized signatories for bank account and official documents

6. Appendix 2 - Consent Letters: Consent letters from directors and officers accepting their appointments

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Pakistan

Publisher

Genie AI

Document Type

Board Resolution

Cost

Free to use
Relevant Industries

Manufacturing

Technology

Financial Services

Retail

Healthcare

Real Estate

Professional Services

Education

Construction

Hospitality

Agriculture

Energy

Telecommunications

Transportation

Mining

Media and Entertainment

Relevant Teams

Legal

Corporate Secretarial

Compliance

Corporate Affairs

Board Secretariat

Corporate Governance

Executive Management

Finance

Administration

Relevant Roles

Chief Executive Officer

Company Secretary

Legal Counsel

Corporate Lawyer

Compliance Officer

Board Director

Managing Director

Chief Financial Officer

Corporate Governance Officer

Legal Director

Company Registration Officer

Corporate Affairs Manager

Legal Manager

Board Chairman

Investment Manager

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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