Failure to submit a certified copy of the minutes of the proceedings of the General Meeting of the Directors of the Company scope under the provisions of section 54 (vi), (xiv), 54 and section 54 of the 156 Insurance Ordinance 2000. The commission includes a certified copy of the meeting proceedings every day, which enters the insurance company's minutesbook within thirty days of the holding of the meeting's directors, in addition to the day-to-day operations and arrangements of the company. In this business, certain responsibilities, duties - duties of trust and some of the wider duties imposed by the law and violation of these legal obligations are usually a criminal offense, fined or imprisoned. Directors of the convicted company were punished against high standards. Accountability Due to which they must be alert and perform their duties with proper duty In the present case, the directors have failed to perform their duties with proper responsibility and dexterity. In relation to the legal requirements of Article 54 of the Insurance Ordinance 2000, directors should have been aware of their legal obligations; in these circumstances, this default could have been committed, and the review of the penalties provided under Section 156 of the Insurance Code. Can be taken The ordinance, 2000 that the company and / or its directors could impose on the commission, in view of the modesty, consoled the company because the company inadvertently filed minutes of the annual general meeting for the relevant period. Was.
Related judgments — Securities and Exchange Commission of Pakistan, 2014
