Index

Corporate Laws

Open Book
Toolkit
Smart Tools for planning the syllabus

A: Topical Map of Syllabus (Laws Cross Linked) 547

B: Cross Linking of Laws with each other 550
C: Topical clubbing of different sections of Companies Act 2017 553
D: Sequence wise Track of sections of Companies Act 2017 554
E: Important Sections/Rules/Regulation/Paras etc 556
F: Common Law Terminologies 558

Syllabus Area wise Mind Maps (of all Laws) 559

Open Book Practice Question Bank 612

A. Topical Map of Syllabus (Laws cross linked) Page 547

A: Topical Map of Complete Syllabus (Laws Cross Linked)

Ch Broad Topic Relevant Syllabus Area

Basics of Companies Act

1 Introduction to A 1.1: Companies Act, 2017

Company Law and (Section 1-8, 14(2), 42-44, 45, 52, 54, 254, 255)
Companies
2 Incorporation of A 1.1: Companies Act, 2017
Companies (Section 9-18, 21-24, 26-29, 31-41, 46-51, 53, 118)
A 1.2: First Schedule of the Companies Act, 2017
A 1.9: Companies Regulations, 2024
(Regulation 8 to 11,13, 14, 19 36 to 38, 54)

Management of Companies

3 Meetings and A 1.1: Companies Act, 2017 (Section 55, 131-152, 178, 215)
Proceedings A 1.3: Companies (Postal Ballot) Regulations, 2018
A 1.4: Companies Regulations, 2024
(Regulation 55 & 56)
4 Directors and Other A 1.1: Companies Act, 2017
Officers (Section 98, 99, 153-198, 204-213, 246-253)
A 1.4: Companies Regulations, 2024
(Regulation 12, 49 to 53)
A 1.7: Companies (Related Party Transactions & Maintenance of
Related Records) Regulations, 2018 (Regulation 3 to 6)
A 3.6: Companies (Manner and Selection of Independent Directors
Regulations, 2018)
5 Investments, A 1.1: Companies Act, 2017
contracts and (Section 84, 199-203, 214, 217-219, 240-245)
dividends A 1.6: Employees’ Contributory Fund (Investment in Listed Securities)
Regulations, 2018
A 1.5: Companies (Investment in Associated Companies and
Associated Undertakings) Regulations, 2017
A 1.8: Companies (Distribution of Dividends) Regulations, 2017
6 Accounts and A 1.1: Companies Act, 2017 (Section 56, 119-130, 216, 220-239)
Records A 1.4: Companies Regulations, 2024
(Regulation 41, 47 & 48)
A. Topical Map of Syllabus (Laws cross linked) Page 548

Advance Areas of Companies Act

7 Investigation of A 1.1: Companies Act, 2017 (Section 256-275)

Companies
8 Mediation, B 1.1: Companies Act, 2017 (Sections: 276 to 292)
Arbitration, B 2.1: Corporate Restructuring Companies Act, 2016 (Sections: 1 to
Mismanagement, 6)
Restructuring and B 2.2: Corporate Rehabilitation Act, 2018 (Chapter: I and II)
Rehabilitation B 2.3: Corporate Restructuring Companies Rules, 2019
B 2.4: Corporate Rehabilitation Regulations, 2019
9 Winding Up A 1.1: Companies Act, 2017
(Section 293 to 302, 304 to 306, 312 to 396, 406 to 426)
10 Other A 1.1: Companies Act, 2017
Miscellaneous (Sections: 427 to 468,471 to 473, 498, 500, 505)
Areas of
Companies Act

Laws Related to Share Capital and Securities

11 Introduction to A 1.1: Companies Act, 2017 (Section 25, 60-62, 71-80, 85-87, 89-97)
Share Capital A 1.4: Companies Regulations, 2024
(Regulation 40, 42 to 44)
12 Debentures A 1.1: Companies Act, 2017 (Section 30, 63, 65, 66, 100-117)
A 1.4: Companies Regulations, 2024
(Regulation 45 & 46)
13 Further Issue of A 1.1: Companies Act, 2017 (Section 58, 59, 70, 81-83)
Share Capital A 1.4: Companies Regulations, 2024
(Regulations: 39)
A 2.1: Private Placement of Securities Rules, 2017 - Rules 4 to 6
A 2.2: Companies (Further Issue of Shares), Regulation 2020
14 Buy back of Share A 1.1: Companies Act, 2017 (Section 88)
Capital A 3.3: Listed Companies (Buy-Back of Shares) Regulations, 2019
15 Insider trading and A 3.1: Securities Act 2015 (Section 2, 63-65, 96-106, 128-131) and
other Areas of Relevant Rules and Regulations made there under
Securities Act 2015
16 First Issue of A 1.1: Companies Act 2017 (19, 20, 57, 67-69)
Capital (Initial A 3.1: Securities Act 2015 (Section 87-95) and Relevant Rules and
Public Offer - IPO) Regulations made there under
A 3.5: Public Offering Regulations, 2017
A 1.2: Second Schedules of the Companies Act, 2017
17 Stock Exchange A 3.2: Rule Book of Pakistan Stock Exchange - Chapter 5
Rule Book
18 Substantial A 3.1: Securities Act 2015 (Sec 107-126)
Acquisition A 3.4: Listed Companies (Substantial Acquisition of voting shares and
Takeovers) Regulations, 2017
A. Topical Map of Syllabus (Laws cross linked) Page 549

Specialised Companies

19 Non Banking C 1.1: Companies Ordinance, 1984 (Section 282A to 282N)

Finance C 1.2: NBFC (Establishment and Regulation) Rules 2003-Rules 1 to 7
Companies C 1.3: The Non-banking Finance Companies and Notified Entities
Regulations, 2008 (Regulation 2, 3, 9, 10, 15B, 16-18, and 25)
20 Banking C 3.1: The Banking Companies Ordinance, 1962
Companies and • Part I (Sections 1, 2, 5 & 6)
transactions • Part II (Sections 9, 11, 13 to 19, 21, 22, 24, 29, 34 to 38)
D 5.1: Payment Systems and Electronic Fund Transfers Act, 2007
(Section 2, 4, 5, 8, 14, 18)
21 Insurance C 2.1: Insurance Ordinance, 2000
Companies • Part I (Sections 1 to 4)
• Part II (Sections 5 to 13)
• Part III (Section 14)
• Part IV (Section 28)
• Part V (Sections 35, 36)
• Part VII (Sections 45 to 48)

Laws relating to different Authorities

22 Competition Act D 2.1: Competition Act, 2010 (Chapter I and II)

2010
23 Anti-Money D 3.1: Anti-money Laundering Act, 2010 and Anti-money Laundering
Laundering Regulations, 2015 (Rule 4, 5, 7 and Appendix I&II); and
SECP (Anti Money Laundering & Countering Financing of
Terrorism) Regulations 2020
24 Foreign Exchange D 1.1: Foreign Exchange Manual of State Bank of Pakistan
Regulations (Chapter 19 and 20)

Governance & Ethics

25 Code of Corporate D 4.1: Listed Companies (Code of Corporate Governance)

Governance Regulations, 2019 and Public Sector Companies (Corporate
Governance) Rules, 2013
26 Code of Ethics for D 6.1: ICAP Code of Ethics for Chartered Accountants (Revised 2019)
CA in Business (Part I and II)
B. Cross Linking of Laws with each other Page 550

B: Cross Linking of Some big Laws with each other

Companies Act2017
Sec Cross Linked with
58, 59 Reg # 6 - Companies (Further Issue of Shares), Regulation 2020
83 Reg # 3 & 5 - Companies (Further Issue of Shares), Regulation 2020
88 Listed Companies (Buy-Back of Shares) Regulations, 2019
143-145 Postal Ballot Regulations,2018
154 Reg # 7 - Code of Corporate Governance 2019
155 Reg # 3 - Code of Corporate Governance 2019
156 Reg # 36 - Code of Corporate Governance 2019
166 Reg # 6 - Code of Corporate Governance 2019
170 Reg # 16, 17 - Code of Corporate Governance 2019
176 Reg # 11, 12 14, 15 - Code of Corporate Governance 2019
183 Reg # 10 - Code of Corporate Governance 2019
199 Investment in Associated Companies and Associated Undertakings 2017
218 Employees’ Contributory Fund (Investment in Listed Securities) Regulations, 2018
226, 227 Reg # 34 - Code of Corporate Governance 2019
247 Reg # 32 - Code of Corporate Governance 2019

Securities Act 2015

Sec Cross Linked with
88 Public Offering Regulations, 2017
109, 110 Reg # 4 - Listed Companies (Substantial Acquisition) Regulation, 2017
111, 114 Reg # 3, 7-13,18-20 - Listed Companies (Substantial Acquisition) Regulation, 2017
112 Reg # 14 - Listed Companies (Substantial Acquisition) Regulation, 2017
119 Reg # 5, 25-29 - Listed Companies (Substantial Acquisition) Regulation, 2017
123 Reg # 15, 16 - Listed Companies (Substantial Acquisition) Regulation, 2017
120 Reg # 17 - Listed Companies (Substantial Acquisition) Regulation, 2017
121 Reg # 23 - Listed Companies (Substantial Acquisition) Regulation, 2017
122 Reg # 22 - Listed Companies (Substantial Acquisition) Regulation, 2017
B. Cross Linking of Laws with each other Page 551

Companies (Further Issue of Shares), Regulation 2020

Reg Cross Linked with
3,5 Sec 83 - Companies Act2017
6 Sec 58, 59 - Companies Act2017

Companies Ordinance 1984

Sec Cross Linked with
282 A-N NBFC (Establishment and Regulation) Rules, 2003
282 A-N Non-banking Finance Companies and Notified Entities Regulations, 2008

Listed Companies (Substantial Acquisition of voting shares & Takeovers) Reg 2017
Reg Cross Linked with
4 Sec # 109, 110 – Securities Act 2015
3, 7-13, 18-20 Sec # 111, 114 – Securities Act 2015
14 Sec # 112 – Securities Act 2015
5, 25-29 Sec # 119 – Securities Act 2015
15, 16 Sec # 123 – Securities Act 2015
17 Sec # 120 – Securities Act 2015
23 Sec # 121 – Securities Act 2015
22 Sec # 122 – Securities Act 2015

Code of Corporate Governance 2019

Reg Cross Linked with
3 Sec 155 – Companies Act 2017
6 Sec 166 – Companies Act 2017
7 Sec 154 – Companies Act 2017
10 Sec 183 – Companies Act 2017
11, 12 14, 15 Sec 176 – Companies Act 2017
16, 17 Sec 170 – Companies Act 2017
32 Sec 247 – Companies Act 2017
34 Sec 226, 227 – Companies Act 2017
36 Sec 156 - Companies Act 2017
B. Cross Linking of Laws with each other Page 552

Anti-money Laundering Act, 2010 Anti-money Laundering Regulations, 2015

Sec # 6 Reg # 7
Sec # 7 Reg # 4, 5

Laws which are not (materially) linked with any other law of the syllabus

 The Banking Companies Ordinance, 1962

 Insurance Ordinance, 2000
 Competition Act, 2010
 Foreign Exchange Manual of State Bank of Pakistan (Chapter XIX and XX)
 ICAP Code of Ethics (2019 Edition)
 SECP (Anti Money Laundering & Countering Financing of Terrorism) Regulations 2020
C. Topical clubbing of section in Companies Act 2017 Page 553

C: Topical clubbing of different sections of Companies Act 2017

Ch Topic (Broad area) Relevant Section of the Act

1 Introduction to Company Law 1-8, 14(2), 42 to 44, 45, 52, 54, 254, 255
and Companies
2 Incorporation of Companies 9-18, 21-24, 26 to 29, 31 to 41, 46 to 51, 53, 118
1st Schedule
3 Meetings and Proceedings 55, 131 to 152, 178, 215
4 Directors and Other Officers 98, 99, 153 to 198, 204 to 213, 246 to 253
5 Investments, contracts and 84, 199 to 203, 214, 217 to 219, 240 to 245
dividends
6 Accounts and Records 56, 119 to 130, 216, 220 to 239
7 Investigation of Companies 256 to 275
8 Mediation, Arbitration, 276 to 292
Mismanagement, Restructuring
and Rehabilitation
9 Winding Up 293 to 302, 304 to 306, 312 to 396, 406 to 426
10 Other Miscellaneous Areas of 427 to 468, 471 to 473, 498, 500, 505
Companies Act
11 Introduction to Share Capital 25, 60 to 62, 71 to 80, 85 to 87, 89 to 97
12 Debentures 30, 63, 65, 66, 100 to 117
13 Further Issue of Share Capital 58, 59, 70, 81 to 83A
14 Buy back of Share Capital 88
16 First Issue of Capital 19, 20, 57, 67 to 69
(Initial Public Offer - IPO) 2nd Schedules

Sections not part of Syllabus

These 56 sections should be 303, 307 to 311, 397 to 405, 469, 470, 474 to
skipped while preparation 497, 499, 501 to 504, 506 to 515
D. Sequence wise Track of sections of Companies Act 2017 Page 554

D: Sequence wise Track of sections of Companies Act 2017

Sec Ch Sec Ch Sec Ch Sec Ch Sec Ch Sec Ch Sec Ch Sec Ch

1 1 32 2 63 12 94 11 125 6 156 4 187 4 218 5
2 Mix 33 2 64 9 95 11 126 6 157 4 188 4 219 5
3 1 34 2 65 12 96 11 127 6 158 4 189 4 220 6
4 1 35 2 66 12 97 11 128 6 159 4 190 4 221 6
5 1 36 2 67 16 98 4 129 6 160 4 191 4 222 6
6 1 37 2 68 16 99 4 130 6 161 4 192 4 223 6
7 1 38 2 69 16 100 12 131 3 162 4 193 4 224 6
8 1 39 2 70 13 101 12 132 3 163 4 194 4 225 6
9 2 40 2 71 11 102 12 133 3 164 4 195 4 226 6
10 2 41 2 72 11 103 12 134 3 165 4 196 4 227 6
11 2 42 1 73 11 104 12 135 3 166 4 197 4 228 6
12 2 43 1 74 11 105 12 136 3 167 4 198 4 229 6
13 2 44 1 75 11 106 12 137 3 168 4 199 5 230 6
14 2 45 1 76 11 107 12 138 3 169 4 200 5 231 6
15 2 46 2 77 11 108 12 139 3 170 4 201 5 232 6
16 2 47 2 78 11 109 12 140 3 171 4 202 5 233 6
17 2 48 2 79 11 110 12 141 3 172 4 203 5 234 6
18 2 49 2 80 11 111 12 142 3 173 4 204 4 235 6
19 16 50 2 81 13 112 12 143 3 174 4 205 4 236 6
20 16 51 2 82 13 113 12 144 3 175 4 206 4 237 6
21 2 52 1 83 13 114 12 145 3 176 4 207 4 238 6
22 2 53 2 84 5 115 12 146 3 177 4 208 4 239 6
23 2 54 1 85 11 116 12 147 3 178 3 209 4 240 5
24 2 55 3 86 11 117 12 148 3 179 4 210 4 241 5
25 11 56 6 87 11 118 2 149 3 180 4 211 4 242 5
26 2 57 16 88 14 119 6 150 3 181 4 212 4 243 5
27 2 58 13 89 11 120 6 151 3 182 4 213 4 244 5
28 2 59 13 90 11 121 6 152 3 183 4 214 5 245 5
29 2 60 11 91 11 122 6 153 4 184 4 215 3 246 4
30 12 61 11 92 11 123 6 154 4 185 4 216 6 247 4
31 2 62 11 93 11 124 6 155 4 186 4 217 5 248 4
D. Sequence wise Track of sections of Companies Act 2017 Page 555

Sec Ch Sec Ch Sec Ch Sec Ch Sec Ch Sec Ch Sec Ch Sec Ch

249 4 282 8 315 9 348 9 381 9 414 9 447 10 480 x
250 4 283 8 316 9 349 9 382 9 415 9 448 10 481 x
251 4 284 8 317 9 350 9 383 9 416 9 449 10 482 x
252 4 285 8 318 9 351 9 384 9 417 9 450 10 483 x
253 4 286 8 319 9 352 9 385 9 418 9 451 10 484 x
254 1 287 8 320 9 353 9 386 9 419 9 452 10 485 x
255 1 288 8 321 9 354 9 387 9 420 9 453 10 486 x
256 7 289 8 322 9 355 9 388 9 421 9 454 10 487 x
257 7 290 8 323 9 356 9 389 9 422 9 455 10 488 x
258 7 291 8 324 9 357 9 390 9 423 9 456 10 489 x
259 7 292 8 325 9 358 9 391 9 424 9 457 10 490 x
260 7 293 9 326 9 359 9 392 9 425 9 458 10 491 x
261 7 294 9 327 9 360 9 393 9 426 9 459 10 492 x
262 7 295 9 328 9 361 9 394 9 427 10 460 10 493 x
263 7 296 9 329 9 362 9 395 9 428 10 461 10 494 x
264 7 297 9 330 9 363 9 396 9 429 10 462 10 495 x
265 7 298 9 331 9 364 9 397 x 430 10 463 10 496 x
266 7 299 9 332 9 365 9 398 x 431 10 464 10 497 x
267 7 300 9 333 9 366 9 399 x 432 10 465 10 498 10
268 7 301 9 334 9 367 9 400 x 433 10 466 10 499 X
269 7 302 9 335 9 368 9 401 x 434 10 467 10 500 10
270 7 303 x 336 9 369 9 402 x 435 10 468 10 501 x
271 7 304 9 337 9 370 9 403 x 436 10 469 x 502 x
272 7 305 9 338 9 371 9 404 x 437 10 470 x 503 x
273 7 306 9 339 9 372 9 405 x 438 10 471 10 504 x
274 7 307 X 340 9 373 9 406 9 439 10 472 10 505 10
275 7 308 X 341 9 374 9 407 9 440 10 473 10 506 x
276 8 309 X 342 9 375 9 408 9 441 10 474 x 507 x
277 8 310 X 343 9 376 9 409 9 442 10 475 x 508 x
278 8 311 x 344 9 377 9 410 9 443 10 476 x 509 x
279 8 312 9 345 9 378 9 411 9 444 10 477 x 510 x
280 8 313 9 346 9 379 9 412 9 445 10 478 x 511 x
281 8 314 9 347 9 380 9 413 9 446 10 479 x 512 x
E. Important Sections etc Page 556

E: Important Section/Rules/Regulations/Paras

Description of Law Important Sec/Rule/Reg/Paras

Companies Act, 2017 Sec # 9, 10, 32, 38, 46, 59, 66, 68-70, 74, 76, 79,
82, 83, 86-88, 90, 98, 100, 106, 110, 118, 125,
130-135, 137, 143-145, 149,151, 153, 159, 162,
165, 171, 178, 182, 190, 199, 200, 207, 208,
217, 218, 223, 228, 233, 234, 237, 243-245,
247, 257, 258, 262, 272, 286, 291, 292, 294,
302, 315, 317, 320, 321, 347, 352, 356, 362,
369, 370, 390, 416, 417, 424, 426, 427, 428,
435, 437, 440 and 1st Schedule
Companies (Postal Ballot) Regulations, 2018 Reg # 4, 6, 10
Companies (Regulations), 2024 Reg # 8, 19, 38, 39, 49, 52, 56

Companies (Investment in Associated Reg # 3, 4, 5

Companies and Associated Undertakings)
Regulations, 2017
Employees’ Contributory Fund (Investment Reg # 3, 4
in Listed Securities) Regulations, 2018
Companies (Related Party Transactions & Reg # 4, 5
Maintenance of Related Records)
Regulations, 2018

Companies (Distribution of Dividends) Reg # 4, 6

Regulations, 2017

Private Placement of Securities Rules, 2017 Rule 4

Companies (Further Issue of Shares), Reg # 3, 5-7

Regulation 2020
Securities Act 2015 Sec # 63, 88, 91, 95, 96, 101, 104, 105, 110-112,
114, 120-122, 128-130
Listed Companies (Buy-Back of Shares) Reg # 3, 6, 9, 10, 13
Regulations, 2019
Rule Book of Pakistan Stock Exchange - Rule # 5.2.2, 5.4, 5.5, 5.8, 5.10, 5.13, 5.15
Chapter 5
Listed Companies (Substantial Acquisition of Reg # 5, 6, 7, 13, 14, 17, 22, 23
voting shares & Takeovers) Regulation, 2017
Public Offering Regulations, 2017 Reg # 3, 7, 8, 9
E. Important Sections etc Page 557

Description of Law Important Sec/Rule/Reg/Paras

Companies (Manner and Selection of Reg # 4, 5
Independent Directors Regulations, 2018)

Corporate Restructuring Companies Act, Sec # 5, 6

2016

Corporate Rehabilitation Act, 2018 Sec # 6 to 10, 14, 17, 18

Corporate Restructuring Companies Rules, Rule # 3, 4

2019

Corporate Rehabilitation Regulations, 2019 Reg # 4, 5

Companies Ordinance, 1984 Sec # 282C, 282CA, 282E, 282L

NBFC (Establishment and Regulation) Rules Rule # 5, 7
2003
The Non-banking Finance Companies and Reg # 9, 10, 17, 25
Notified Entities Regulations, 2008
Insurance Ordinance, 2000 Sec # 3, 4, 7, 12, 14, 28, 46
The Banking Companies Ordinance, 1962 Sec # 14, 21, 22, 24, 33A-38
Foreign Exchange Manual of State Bank of Chapter XIX - Para # 2, 3, 7, 8, 11
Pakistan (Chapter XIX and XX) Chapter XX - Para # 3, 6, 7, 9A, 10
Ca10: Competition Act, 2010 (Chapter I and Sec # 3, 4, 7, 11
II)
Payment Systems and Electronic Fund Sec # 4, 5, 14
Transfers Act, 2007

Anti-money Laundering Act, 2010 Sec # 3-18, 24, 27-29, 31, 37

SECP (Anti Money Laundering & Countering Reg # 4, 8, 12-14, 19, 21
Financing of Terrorism) Regulations 2020
Anti-money Laundering Regulations, 2015 Reg # 4, 7
Code of Corporate Governance for Listed Reg # 5, 10, 19, 22, 23, 27, 31, 32, 36
Companies
Code of Corporate Governance for Public Rule # 2A, 11, 17, Annexure
Sector Companies
Code of Ethics 2019 Broad Area # 114, 200, 210, 220, 250
F. Common Law Terminologies 558

F: Common Law Terminologies (used in Bare Laws)

Latin Term Description

Ab initio From the beginning.
Bona fide Genuine, Real; With legitimate intentions; In good faith.

Ex parte Decided by a judge without requiring all of the parties to the

dispute to be present
Inter alia Among other things.
Ipso facto By definition; By the fact itself

Prima facie Self-Evident; On first appearance.

Mutatis Mutandis Same effect with the necessary adjustments made

Pari passu At an equal rate (ranking); Same in the eyes

Per se In itself; Intrinsically; Essentially

Vice versa Other way round; the order being changed; the position having
been reversed
Ultra vires Beyond the powers; In excess of the authority conferred by law

Other Phrases Description

Without Prejudice Without detriment (harmful) to any existing right or claim;
Without affecting that thing
Notwithstanding In spite of; Without being opposed; Not considering

Save as provided Except, but, other than; Reserve; Exempt