Failure to Appoint Sections 204A and 498 Company Secretaries The Company's annual report discloses that the Company did not appoint any person as Company Secretary Company, under the circumstances, the provisions of Section 204A of the Company Ordinance, 1984 Was violated. Section 204A of the Companies Ordinance, 1984, was to improve corporate culture and bring good corporate governance while ensuring standard secretary services for the corporate sector. The law requires that a listed company be held full-time by the Company Secretary. In the present situation, the Board of Directors has yet to appoint the Company Secretary, which failure was in violation of the provisions of section 204A of the Company Ordinance. The Chief Executive did not comply with the provisions of the law and was responsible for compliance with the provisions of Section 204A. The CEO of the Companies Ordinance, 1984, which attracted the provisions of Section 498 of the Ordinance, was fined Rs 15,000 by the CEO.
Related judgments — Securities and Exchange Commission of Pakistan, 2010
