FAROOQ HASSAN, EXECUTIVE DIRECTOR (MANAGEMENT ASSOCIATION OF PAKISTAN) versus DIRECTOR (CL)
Sections 42, 476 and 506 (2) of the Companies (General Provisions and Forms) Rules, 1985, Section 6 and 35 of the Securities and Exchange Commission of Pakistan Act (XLII of 1997), Section 33 of the Association's limited liability as a company. In addition to the prohibition of registering payments for services to its members, the Complaints Administration received information regarding the affairs of the Association of Pakistan, which found that the Association was paying compensation and financial benefits to the Executive Director of the Association, Who was a director / member. That the Executive Director was a designated member of the National Development Finance Corporation. And because of this, the membership held various key positions in the Association Appellants. The lawyer acknowledged that the executive director's membership fee was paid by the association and was not returned, the name of the executive director. Did not appear as an individual member. There was no evidence of consideration, approval or rejection of the Executive Director's membership by the Committee; under Article 4 of the Articles of Association, the Executive Director becomes an individual member only after the application has been submitted. Can The members were either selected or rejected by the committee, the circumstances were remanded to the department, so that a complete record of the members' registers could be obtained and a few minutes after the meeting of the committee it was decided that the executive director. Whether or not they were entered as an admission. Individual members of the Association and to ascertain whether the procedure has been determined or not, in accordance with Article 4 of the Articles of Association
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