SECP places Model Memorandum of Association on website
Staff Report

ISLAMABAD—The Securities and Exchange Commission of Pakistan (SECP) has developed standardized models Memorandum of Association for 27 sectors and placed them on its website, www.secp.gov.pk.
This initiative of the SECP will facilitate promoters in preparation and submission of documents for registering a company, said a SECP statement issued here. Memorandum of Association is the constitution of a company; it is the main document which provides information about name, situation of registered office, objects, liabilities and capital of a company. A company cannot be incorporated without having a Memorandum of Association.
In case, promoters adopt a standard model Memorandum of Association for their proposed company, examination by the concerned registerer will be easy, lead to quick processing and the company could be registered on the same day if other documentation is also complete. On the other hand, if promoters file their own memorandum of Association, it may consume more time to study and examine the same before a company is registered. Presently, the model Memorandum of Association have been provided for Auto and Allied sector, Banking Company, Chemical and pharmaceutical, Communication and IT, Construction, Engineering, Exchange Company (A&B Type), Fuel and Energy,Insurance, Leather, Leasing, Textile (Composite, Spinning and others), Transportation, Security Service, Power Generation, Synthetic and Rayon, Jute, Fishing, Livestock , Poultry and Breeding and venture Capital Businesses.