Chapter 3: Directors

Question 1

if an undischarged insolvent acts as a CEO or director, he shall be liable to imprisonment for upto?

Answer 1

2 years, or fine, or both

Question 2

ineligibility criteria
a person who lacks fiduciary behavior as declared by a court during the last what years?

Answer 2

5 years

Question 3

subsequent directors shall be elected by members at general meeting, and they shall hold the office for

Answer 3

3 years

Question 4

casual vacancy in a listed company, to be filled in

Answer 4

90 days of occurrence

Question 5

existing directors shall fix the number of directors to be elected atleast what days before the meeting?

Answer 5

35 days

Question 6

notice of the general meeting shall be sent to members atleast what days before the meeting? along with what documents?

Answer 6

21 days, along with a notice that expressly states the number of directors to elected and the name of the retiring directors

Question 7

a person whether retiring or otherwise, seeking to contest election shall file a notice of his intention in writing with company at least what days before relevent general meeting?

Answer 7

14 days

Question 8

all notices of intention received by company shall be transmitted to members at least what days before the general meeting?

Answer 8

7 days

Question 9

to declare election invalid, members holding 10 percent or more voting power, to apply to court within what days from the date of the election

Answer 9

30 days

Question 10

to hold fresh election, a person having requisite shareholding may apply to hold fresh elections.
within what days of request, company shall proceed to hold fresh election?

Answer 10

within 30 days from request

Question 11

consent to act as director, the company shall file such consent to the registrar within what days of his appointment?

Answer 11

15 days

Question 12

approval of general meeting for specific powers shall stand valid for?

Answer 12

1 year

Question 13

a copy of minutes of the board meeting shall be sent to every director within what days of the meeting?

Answer 13

14 days

Question 14

an alternate director can be appointed by a director if he is absent from pakistan for what days/

Answer 14

90 days or more

Question 15

the record of minutes of a board meeting shall be kept in the registered office for what time? both physical and electronic?

Answer 15

10 years physically, and permanently in electronic form

Question 16

4 criteria for independant director

Answer 16

3 years

Question 17

a person who is a graduate for a HEC recognized university or a member of a professional body, with what years experience (independent director)

Answer 17

5 years

Question 18

a person with what years experience in disciplines relevant to the companies business (independent director)

Answer 18

15 years

Question 19

after appointment as an independent director, a person shall complete directors training program within what months of appointment?

Answer 19

12 months