e Cha tered Accountants Ordinance, 1961 (X of 1961), h the approval of the Registrar and such auditor as an auditor of a company has under the Companies Act, 1913 (VIL F powers, duties and liabilities as are, or may be, provided in this t, ete.- No modaraba company, di in any document, prospectus, report, return, ion or be furnished in purse Ordinance or the in any J Ordinance or the rules, make nenit cor give has reasonable cause to believe to be false or incorrect or omitany other provision of this Ordinance, where the Registrar is satisfied that it is necessary and expedient so to do (a) in the public interest; or detrimental to the interest of holders of Modaraba Certificate: (c) to secure the proper management of any modaraba generally; he may directions to a modaraba company or the modaraba companies gener: deem fit, and the modaraba company and its agement shall be bound to comply with such direction: ‘The Registra cancel any dir impose such conditions as he thinks fi ntation made to him or on nd in so modifying or ca is own motion, modify or peeling any direction may,FBVVVYY VTE: © 0 80 (EERE nat 2 modaraba company has been conducting the affairs of a ‘modaraba in a manner prejudicial to the interest of the modaraba or the holders of Modaraba Certificates or in a fraudulent or unfawful manner or has committed a default in complying with the provisions of this Ordinance or the rules or with any direction made or given thereunder or any condition of the modaraba; (b) the registration of a modaraba company has been cancelled; or (c) any other modaraba under the mat ment of the modaraba company up by the Tribuna the Registrar, after affording the modaraba company an opportunity of being heard, may, without prejudice to any other action under the law, by order in writing ()_ appoint an administrator to take over and manage the modar: such period as the Registrar may specify; i) require th specified; or as been ordered to be wound aba in place of the modaraba company for odaraba company to ry out such changes in the management and procedure as may be Gii) remove the modaraba company and appoint another modaraba company in its place to manage the odaraba. ‘The Registrar shall rot make an order without the approval of the Commission21, Enquiries. © The Registrar may, on his own motion or on an application made by the holders of Modaraba Cer > value of which is not less than ten per cent of the total subscribed amount of the modaraba, by an order in writing cause on enquiry to be made by a person appointed by him in this behalf into the affairs of a modaraba company othe modaraba or any business transaction thereof, ‘© Where an enquiry under sub-section (1) has been ordered, every director, manager or other officer of the modaraba company to which the enquiry relates and every other person who has had any dealing with such modaraba company or director or officer shall furnish such information or document in his custody or power or within his knowledge relating to or having a bearing on the subject matter of the enquiry as the person conducting the enquiry may by notice in writing require. 1 an enquiry under sub-section (1) premises belonging to or in oce relates and may call for, i for the purpose of such enquiry enter into any faba company or of the person to whom the enquit spect and seize books of accounts and documents in possession of any such ector, manager or any other officer or employ there a court under the Code of Civil Pr matter, namely (a) enforcing the attendance of a person and examining him on oath or affirmation; (b) compelling the discovery and production of documents; and suIRIIRIIININRNINma ante . v hy i (a) enforcing the attendance of @ oh a5 i ‘on oath or affirmation; “and (b) compelling the ‘uments; (©) issuing commissi On receipt of ihe ir shall take such actior he may conside!‘Seed ee aso dod cing One 1 , i ‘official Gazette, constitute one or more Tribunals for the purpose ¢ here it constitutes: more than one Tribunal, shall specify in the a a i each such Tribunal shall. ise j is Ordin (2) A I shall consist of a person who is, or hame of winding up. © After a winding up order has been passed by the Tribunal, the modaraba company shall forthwith hand over charge of the modaraba to the liquidator and furnish him with such statements, documents, records, information and other material as may be required by him. ‘The liquidator shall conduct the winding up proceedings control and directions of the Tribunal, The winding up proceedings shall be completed within a period of one year from the date of appointment of the liquidator, unless the Tribunal, for special reasons to be recorded in writing. extends the period. i © During the winding up proceedings. the Tribunal may allow the administrator appointed by the Registrar under section 20, if any, to continue to function or may appoint an administrator to manage the modaraba till the disposal of the proceedings. in the prescribed manner under thehs I hi Ht HE va company or other of its affairs shall, unless he exercised all diligence to | ‘© Any sum directed to be © No prosecution for an 9 same facts on which a2 Objectivi 3. Professional Competence and Due Care 4. Confidentiality To not allowrbias, conflict of interest or undue influence of others to override professional or business j ts. To maintain professional knowledge and skill at the level required to ensure competent professional services based on current developments in practice, fegislation and techniques. To act diligently in accordance with applicable technical and professional standards. To refrain from disclosing confidential information acquired as a result of professional and business relationships without proper and specific authority to disclose unless there is a legal or professiona right or duty to disclose. To refrain from using confidential information acquired as a resu't of professional and business relationships for personalliadvantage or the . ba