Limitation Periods Company Law

Time Limits of different actions under Company Law

(prepared by: Masood Hassan)

Chapter 11
No. Description Days limit Starting from
1 Transfer of Assets on Revocation of Within 90 days Satisfaction of all debts and liabilities
Association Not For Profit
2 Compliace of report by board on Within 15 days After compliance of report by
wind up of Association Not For Profit registrar
3 Initiation of Necessary Proceedings Within 30 days Acceptance of report by registrar
by Board on wind up
4 Appeal against registrar’s refusal of Within 30 days The date of order of refusal
application

Chapter 12
No. Description
1. Reservation of Company’s Name
2. Appeal against registrar’s refusal of
application for reservation of name
3. Rectification of company name on
direction of registrar
4. Duration for which company must
mention former name with its new
name
5. Notice for passing special resolution
in general meeting
6. Intimation about shifting of
registered office
7. Intimation about change in principal
line of business clause
8. SECP forward its order confirming
alteration in memorandum to
company and registrar
9. Certified copy of alteration and
altered memorandum required to
be filed with registrar
Days limit Starting from
60 days Confirmation of availability of
name
30 days The date of order of refusal
30 days The date of receipt of
registrar’s direction
90 days The date of issuance of
certificate of new name
21 days Prior to the general meeting.
15 days When the company actually
shifts its registered office
30 days The date when special
resolution for change was
passed
7 days The date of confirmation oders
30 days The date of order for
registration by SECP

(prepared by: Masood Hassan) https://www.instagram.com/__m__a__s__o__o__d______

 Limitation Periods Company Law

Time Limits of different actions under Company Law

(prepared by: Masood Hassan)

10. Appeal against registrar refusal to 30 days The date of order of refusal by
register memorandum registrar
11. Copy of memorandum and articles 14 days The date of request by the
to the members member
12. Filing of the altered articles of 30 days The date of passing of the
association special resolution by the company
13. Company shall notify the address of 30 days The date of incorporation
registered office to the registrar

Chapter 13
No. Description Days limit Starting from
1. Filing of consent for appointment or 15 days The date of appointment or
election of directors election as director or chief
executive
2. Fixation of No. of directors to be < 35 days The Date Of General Meeting
Elected
3. Intention by any member interested 14 days Before the date when election
to contest the election of director was scheduled to be contested
4. Notice of intention to contest the < 7 days Before the date when election
election was scheduled to be contested
5. Directors shall fill casual vacancy on < 90 days The date casual vacancy was
board of a listed company created
6. Holding the position of a director 3 years From the date of assuming
office after election
7. Holding out of turn fresh election on 30 days When board receives the
the requisition of acquirer of requisition
substantial shareholding
8. Appeal to hold the election of 30 days The date of election
directors invalid
9. Powers of directors which can only 1 year The date of passing of special
be exercised through passing of resolution to authorize the
special resolution shall lapse if not director
implemented
10. After the retirement of 1st Chief 14 days Election of directors .
Executive appointment of Office of Chief Executive if
subsequent Chief Executive becomes vacant

(prepared by: Masood Hassan) https://www.instagram.com/__m__a__s__o__o__d______

 Limitation Periods Company Law

Time Limits of different actions under Company Law

(prepared by: Masood Hassan)

11. Maximum duration for which Chief 3 years The date of his appointment
Executive is appointed
12. Board of Directors appoint chairman 14 days The date of election of
of board from non-executive directors
directors
13. Chairman of the board shall hold 3 years The date of his appointment
office
14. Record of Board resolutions, 10 years When the resolutions, meeting
meeting and decisions physically or decisions were made

permanent
electronically
15. Maximum duration for which 3 years The date of his appointment
Chairman of Listed Company is
appointed

Chapter 14
No. Description Days limit Starting from
16. Validity of prospectus approved by 60 days The date of approval
Commission
17. Validity of shelf-prospectus >60 days The date of approval
18. The company must submit a copy of > 21 days The proposed date of
prospectus for approval publication of prospectus
19. Publication of prospectus in <7 days & >30 The commencement of the
newspaper days public subscription

Chapter 15
No. Description Days limit Starting from

(prepared by: Masood Hassan) https://www.instagram.com/__m__a__s__o__o__d______

 Limitation Periods Company Law

Time Limits of different actions under Company Law

(prepared by: Masood Hassan)

1. Statutory meeting 180 days The date at which the company

is entitled to commence
busines

9 months The date of incorporation

2. Notice of statutory meeting sent 21 days Before the proposed date of

along statutory meeting
with statutory report
3. 1st Annual General Meeting (AGM) Within 16 The date of its incorporation
month
4. Subsequent AGM Once in Last AGM
calendar
year
5. Holding Subsequent AGM Within 120 Closure of financial year
days
6. Maximum extension of time by 30 days The last due date of holding
Commission or Registrar AGM
7. Notice to the members for holding a 21 days Before the proposed date of
meeting holding the meeting
8. Request of public company 7 days Before the proposed date of
membersfor attending AGM through holding the meeting
video link
9. Directors on requisition of members 21 days The date of receiving the
required to act for holding written requisition
Extraordinary General Meeting
(EGM)
10. EGM must be held and conducted 90 days Receiving the requisition of
members by directors
11. Notice to members for holding EGM 21 days Before the proposed date of
meeting
12. Application to declare meeting 30 days The date of meeting
invalid
13. All special resolutions authenticated 15 days The date of passing of the
byone director or secretary resolution
14. Proxies filed before meeting 48 hours Before the proposed date of
meeting

(prepared by: Masood Hassan) https://www.instagram.com/__m__a__s__o__o__d______

 Limitation Periods Company Law

Time Limits of different actions under Company Law

(prepared by: Masood Hassan)

15. Minutes of proceedings of the 2 hours Each day

general meeting must be open for
inspection of members
16. When members can demand copies 7 days After the meeting
of the minutes of the meeting
17. Record of resolutions, meeting and 20 years When the resolutions, meeting
decisions physically or decisions were made

permanent
electronically

Chapter 16
No. Description Days limit Starting from
1. Notice to Registrar to keep books at 7 days Decision to change place takes place
place other than registered office
2. Books of accounts must be 10 years The date when the books were
preserved made
3. Financial statement of the company Within 16 The date of incorporation
must be presented to members months
in 1st AGM
4. Subsequent financial statement of Within 4 The close of the financial year
the company must be presented to months
members
5. Copies of financial statement, 21 days Before the proposed date of
auditor’s company’s meeting
& directors report and Chairman’s
review report (usually with notice of
meeting)
6. Quarterly statement of the company 30 days Close of 1st and 3rd Quarters
must be presented to members

60 days Close of 2nd Quarter

7. Extension in time for Annual Approval of extension by registrar or
Financial Statements and 1st Quarter < 30 days commission

(prepared by: Masood Hassan) https://www.instagram.com/__m__a__s__o__o__d______