Deposits received as security against section 32 (2) (k) and 156 guarantees against securities received as security against the guarantees of insurance company as acceptable assets against section 32 (2). The infringement was included as an allowable asset. ) (K) of the Insurance Ordinance, in addition to the Company's 2000 Directors, the Company's day-to-day operations, and the management of its business, there are also some "sincere" duties, namely, trustee duties and some wider duties of law. Enforcement; and violation of these legal duties will have a high standard of accountability, which requires them to be vigilant and perform their duties with proper care; in the present case, their responsibilities with reasonable responsibility and discretion. Were unable to pay. He was fully aware of his legal obligations under Section 32 (3) of the Insurance Ordinance 2000, and it was necessary to ensure that the clear words of section 32 (2) of the Insurance Ordinance were complied with. I was. Instead of imposing a maximum penalty of only Rs 1 lakh on the exercise of the powers conferred under Section 156 of the Insurance Ordinance 2000, the company was issued a stern warning that in case of non-compliance. In the meantime, strict action will be taken. This is \ r \ n
Related judgments — Securities and Exchange Commission of Pakistan, 2013
