Section 027

Memorandum of company limited by shares.—In the case of a company limited by shares-

(A) the memorandum shall state—

(i) the name of the company with the word “Limited” as last word of the name in the case of a public limited company, the parenthesis and words “(Private) Limited” as last words of the name in the case of a private limited company, and the parenthesis and words “(SMC-Private) Limited” as last words of the name in the case of a single member company;

(ii) the province or the part of Pakistan not forming part of a province, as the case may be, in which the registered office of the company is to be situate;

(iii) principal line of business:

Provided that—

(a) the existing companies shall continue with their existing memorandum of association and the object stated at serial number 1 of the object clause shall be treated as the principal line of business;

(b) if the object stated at serial number 1 of the object clause is not the principal line of business of the company, it shall be required to intimate to the registrar their principal line of business within such time from commencement of this Act and in the form as may be specified. A revised copy of the memorandum of association indicating therein its principal business at serial number 1 of the object clause shall also be furnished to the registrar; and

(c) the existing companies or the companies to be formed to carry on or engage in any business which is subject to a licence or registration, permission or approval shall mention the businesses as required under the respective law and the rules and regulations made thereunder;

(iv) an undertaking as may be specified;

(v) that the liability of the members is limited; and

(vi) the amount of share capital with which the company proposes to be registered and the division thereof into shares of a fixed amount;

(B) no subscriber of the memorandum shall take less than one share; and

(C) each subscriber of the memorandum shall write opposite to his name the number of shares he agrees to take.

RELEVANT FORM