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BUSINESS FORMATION IN PAKISTAN » NOT FOR PROFIT ORGANIZATION
 

Under Section 42 Companies Ordinance, 1984

Associations not for profit are formed under section 42 of the Companies Ordinance, 1984 the said ordinance envisages two types of associations established for non-profit basis. An Association not for profit is an organization formed for the purpose of serving public or for mutual benefit other than pursuit of benefits. According to Section 42 of the Companies Ordinance, 1984 the main objects of the Association are for promoting commerce, art, science, religion, sports, social services, charity or any other useful object, and applies or intends to apply its profits, if any, or other income in promoting its objects. The Association shall on registration enjoy all the privileges of a limited company and be subject to all its obligations, except those of using the words Limited, Private Limited or Guarantee Limited. To get registered an Association for non-profit purposes first is to obtain license under Section 42 of the Ordinance from Securities & Exchange Commission of Pakistan and thereafter to register the Association as a company.

 
 
 
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SME Business Solutions Limited is a Corporate Law Consultant Business Services Company to provide quality services to its clients in different areas with the highest level of integrity.SME Business Solutions Limited is a Corporate Law Consultant Business Services Company.
 
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