INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN

CORPORATE LAWS AND SECRETARIAL PRACTICES (STAGE-4)

INSTITUTE OF COST AND MANAGEMENT

ACCOUNTANTS OF PAKISTAN
VISION
“To be the Preference in Value Optimization for Business”.

MISSION STATEMENT
“To develop strategic leaders through imparting quality education and training in
Management Accounting, to continually set and upgrade professional standards and to
conduct research, bringing value-addition to the economy”.
Assignment Questions (Spring-2011 Session)
Corporate Laws & Secretarial Practices
Stage – 4
INSTRUCTIONS:

1. A student who takes admission in Correspondence Course shall be required to complete

all assignments of his respective group subjects within the same session, i.e. May –
November or November – May, he/she is enrolled. If he/she fails to complete 100%
assignments within that session, he/she shall be required to re-enrol himself/herself in
the next session after making payment of 100% correspondence course fee.
2. Each assignment is allocated a total of 100 marks.

3. The student must obtain 50% marks in each assignment and if he fails to obtain the said
percentage of marks, he/she has to re-write and resubmit the assignment within one
week, otherwise he/she will not be eligible to appear in the examination.

4. 100% assignments of all subjects must be submitted in the session in which the
examination is to be taken. The last date for submission of 100% assignments for May
Examination is 20th March and for November Examination is 20th September. Those
students who are not appearing in the particular examination may, however, submit the
assignments latest by 15th May and 15th November.

5. You are required to pay Annual Subscription of Rs.700/- during July – December each
year to avoid payment of Restoration Fee of Rs.1500/-.

6. Examination Fee is payable during March 1 – 20 for May Examination and September 1 –
20 for November Examination. Examination forms can be collected from any ICMAP
Centre.

7. Assignments would not be accepted after due date.

 INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN

CORPORATE LAWS AND SECRETARIAL PRACTICES (STAGE-4)

Assignment – 1

Q.1. Define the following with reference to Companies Ordinance 1984.

1. Company
2. Company Limited by Shares
3. Company limited by guarantee having share capital
4. Public listed company
5. Public unlisted company
6. Private company
7. Public quoted company
8. Public unquoted company
9. Company limited by guarantee not having share capital.
10. Registered office of a company
11. Common seal
12. Certificate of Commencement of Business.

Q.2. (a) What are the clauses of Memorandum of Association and Article of Associations?
(b) What are the nature of Memorandum and article of association and what is the difference between them.

Q.3. What are the steps involved in the formation / incorporation of a company as per the Companies Ordinance
1984.

Q.4. Discuss the provisions related to alteration of Memorandum and article of association under the companies
Ordinance 1984.

Assignment – 2

Q.1. Write down the provisions of the companies Ordinance 1984, regarding selection of a name for a company.
Mention the procedure if the company has decided to change its name.

Q.2. (a) What are the provisions regarding approval, issue, publication and filing of prospectus?
(b) Differentiate between statement in lieu of prospectus and prospectus?

Q.3. On what grounds the management may decide to convert the status of a company? Also give step wise
procedure for the conversion of following as given under the companies Ordinance 1984.

(a) From private to public company.

(b) From public to private company.

Q.4. What is a single member company? Compare it with a private limited company?

Assignment – 3

Q.1. Who are the promoters of a company, what are the duties, remuneration and liabilities of promoters? How
the first directors are appointed and what are their terms of office.

Q.2. (a) State the requirements as contained in companies Ordinance 1984 in respect of application for allotment
of shares.

(b) What are the effects of irregular allotment?

Q.3. Explain the legal provisions for holding a board of directors meeting. List and briefly state ten main items of
business that can be transacted at a board of directors meeting.

Q.4. “There is a prohibition on Insider Trading” discuss the statement in the light of provisions of the Securities
and Exchange Commission of Pakistan Act 1997. Also give description of the different persons whom the
term ‘Insider’ applies.
 INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN

CORPORATE LAWS AND SECRETARIAL PRACTICES (STAGE-4)

Assignment – 4

Q.1. Write short notes on the following:

1. Application of share premium.

2. Issuance of shares at discount.
3. Redemption of redeemable preference shares.
4. By Back of shares by listed companies
5. Under writing commission
6. Book Closure
7. Minimum Subscription
8. Transfer to of succession in interest

Q.2. The directors or promoters are responsible for any untrue statement contained in a prospectus. What are the
grounds on the basis of which directors or promoters can escape such liability?

Q.3. Distinguish between transfer and transmission of shares? Can a director of a public limited company refuse to
register or other wise legal transfer of shares? Briefly discuss.

Q.4. Can capital of the company be reduced? Discuss the procedures and legal formalities necessary to attain the
above. Mention the liabilities of members in respect of reduced shares.

Assignment – 5

Q.1. List down the names of books and registers to be maintained by a company under the companies Ordinance,
1984.

Q.2. (a) Differentiate between statutory, annual general and extra-ordinary meetings. Briefly state the provisions
regarding the time period required to held such meetings and the quorum required.
(b) Draft a special resolution regarding shifting of the registered office of ABC Company Ltd from Karachi to
Lahore.

Q.3. What are the requirements of the companies Ordinance 1984 regarding the maintenance of minutes of
proceedings of general meetings and meetings of directors and its inspection by the members.

Q.4. Draft a notice for the extra-ordinary general meeting of ABC Company Ltd.

Assignment – 6

Q.1. Write short notes on the following:

1. Adjournment of meeting
2. Vote by show of hands and poll.
3. Appointment of proxy.
4. Doctrine of indoor management
5. Doctrine of Constructive Notice.
6. Non-Banking Finance Companies.
7. Contributories
8. Modes of winding up of a company
9. Power of Official liquidator

Q.2. What are the provisions of law regarding election, appointment and removal of directors.

Q.3. (a) List down the circumstances under which a company may be wound up by the court under the Companies
Ordinance 1984.
(b) State the circumstances and procedures for voluntary winding up of companies under the Companies
Ordinance 1984.

Q.4. In accordance with the non-banking finance companies (NBFC) Rules, 2003 Elaborate the following:
1. Closed ended scheme
2. Open ended scheme
3. The situations in which the members of the Board can be disqualified.
 INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN

CORPORATE LAWS AND SECRETARIAL PRACTICES (STAGE-4)

Assignment – 7

Q.1. What are the legal requirements regarding declaration and payment of dividend.

Q.2. Explain the composition of the Securities and Exchange Policy Board under the Securities and Exchange
Commission of Pakistan Act 1997.

Q.3. What are the provisions regarding qualification of Company Secretary and CFO of company? what are the
duties of a Company Secretary.

Q.4. Describe the books of accounts to be maintained by each member of Stock Exchange to ensure compliance with
the Securities and Exchange Rules, 1971.

Assignment – 8

Q.1. What types of services are allowed for registration as NBFC? Also mention provision relating to an NBFC for
obtaining license for an existing organization already carrying on business to the enactment.

Q.2. (a) When conflict of interest is deemed to arise for a commissioner of SECP or member of Policy Board of
SECP under the SECP Act, 1997.
(b) How a commissioner or member is supposed to disclose conflict of interest.

Q.3. Discuss the concept of declaration of solvency u/s 362 of the companies Ordinance 1984 for members voluntary
winding up.

Q.4. What are the provisions of code of corporate governance for appointment of external auditor of a listed
company.

Assignment – 9

Q.1. What are the provisions relating to registration of resolution? Also mention the contents of Foam 26 relating to
that.

Q.2. (a) Discuss the contents of director report u/s 236 of the companies Ordinance 1984.
(b) Can a company commence its business or exercise the borrowing powers without obtaining a certificate of
commencement of business.

Q.3. (a) Discuss the provisions of section 132 for satisfaction of charge.
(b) Explain fixed and floating charges. Under what conditions floating charges is crystallized.

Q.4. Explain the circumstances when the liabilities of a director of a company becomes unlimited.

Assignment – 10

Q.1. Explain the procedure of further issue of shares? Can a company invite deposits without advertisement?

Q.2. (a) Can a company issue securities outside Pakistan? Comments

(b) What are 4th and 5th schedule under companies Ordinance 1984.

Q.3. What are the exceptions to law relating to loan to Directors of a company?

Q.4. State the disqualification of a person for appointment as receiver or manager?

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