Course Name : Company Law

Course Code : COM 303

Credit Hours : 03
Total Weeks : 16
Total hours : 48

Course Objective
The course has been designed to introduce the students with the theory & practice of
corporate Law in Pakistan. The course is intended for a diverse readership. It will benefit the
students, Businessmen, Business Executive, Traders, Professionals e.g. Chartered Accountants,
Cost & Management Accountants, Bankers & Investors, etc. However, the primary target
readership includes students, teachers and executives having interest in the corporate sectors
affairs of Pakistan.

Week 1: Introduction Commented [SR1]: LAW

History of Company Law in Pakistan
Constituents of the Company Ordinance
Legal Terminologies
Week 2: The Scope of Company Law Commented [SR2]: INTRODUCTION
Law Governing Companies
Companies Ordinance Preamble and Sections 4 and 5
Body Corporate Section 2 (4)
Week 3: An Overview of the Companys Formation Commented [SR3]: FORMATION
Procedure for Forming a Company
Week 4: The Companies Basic Legal Documents
Memorandum of Association Commented [SR4]: MEMORANDUM OF ASSOCIATION
Contents of Memorandum
Forms of Memorandum
Procedure for Alteration of Object Clause
Doctrine of Ultra Vires
Procedure of Change of Name
Week 5: Articles of Association Commented [SR5]: ARTICLES OF ASSOCIATION
The Contents of the Articles
Difference between Memorandum & Articles
Procedure for Alteration of Articles of Association
Week 6: The Prospectus Commented [SR6]: The PROSPECTUS
The Contents of Prospectus
Liabilities Arising from Mis-Statement in Prospectus
Statement in Lieu of Prospectus
Week 7: Company Courts Commented [SR7]: Company Courts
Section 2 (11)
Jurisdiction Section 7
Company Benches Section 8
Procedure of the Court Section 9
Appeal against Court Order Section 10
Week 8: Corporate Law Authority Commented [SR8]: Corporate Law Authority
 Meaning
Constitution,
Powers and Functions
Procedures
References to Court
Week 9: Share and Shareholders Commented [SR9]: SHARE CAPITAL
Share Certificates
Register of Members
Rights of Members
Liabilities of Shareholder
Week 10: Commission Discount and Premium
Commission on Issue of Shares
Premium on Issue of Shares
Issue of Shares at Discount
Week 11: Capital Structure
Meaning
Share Capital
Kinds of Preference Shares
Deferred Shares
Week 12: Underwriting of Shares Commented [SR10]: Underwriting of Shares
Underwriter
Underwriting
General
Definition of Underwriting
Objects
Duties of Directors in Underwriting Contract
Sub underwriting
Underwriting Commission
Overriding Commission
Week 13: Company Directors Commented [SR11]: DIRECTORS
Legal Relationship between Director and Company
Directors Trustees or Agents
Directors as Agents
Directors as Trustees
Person Eligible to become Director Section 175
Week 14: Ineligibility of Person to become Director
Powers of Directors
Procedure of Election of Director
Chief Executive
Week 15: Winding Up of Companies Commented [SR12]: WINDING UP OF COMPANY
Compulsory Winding by the Court
Powers of the Court on Hearing Petition
Voluntary Winding Up
Declaration of Solvency
Appointment of Liquidator
Creditors Voluntary Winding up
 Winding up subject to Supervision of Court
Week 16: Modarba Companies and Modarbas Commented [SR13]: MODARABA
Definitions
Registration of Modarba Companies
Types of Modarba

Total Marks : 100

Internal Assessment : 20
Mid Term : 30
Final Examination : 50

Recommended Books:

1. COMPANIES ORDINANCE 1984.

2. COMPANY LAW & PRACTICE IN PAKISTAN Latest Edition
Dr. Khawaja Ahmad Saeed. IBA Lahore Pakistan.