ACT XVII OF 1991

COMPANIES (AMENDMENT) ACT, 1991

Act further to amend the Companies Ordinance, 1984

[Gazette of Pakistan, Extraordinary, Part I, 27th November, 1991]

Whereas it is expedient further to amend the Companies Ordinance, 1984 (XLVII of 1984) for the purpose hereinafter appearing;

It is hereby enacted as follows:--

1. Short title and commencement.------(1) This Act may be called the Companies (Amendment) Act, 1991.

(2) It shall come into force at once.

**2. Amendment of section 2, Ordinance XLVII of 1984.--**In the Companies Ordinance, 1984 (XLVII of 1984), in section 2, in subsection (1), for clause (15-A) the following shall be substituted and shall be deemed always to have been so substituted namely:--

"(15-A) "financial institution" means an institution not less than fifty per cent of the share capital of which is held by the Federal Government or a Provincial Government, whether directly or through a company or corporation set up or controlled by such Government, and includes such other institutions or companies as the Federal Government may, by notification in the official Gazette specify for the purpose;".

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