The Companies (Second Amendment) Ordinance, 2020 [“2nd Amendment”] was promulgated on 7 July 2020 and is applicable with immediate effect and is deemed to have come in to force on the 30 April 2020.
The government has retracted certain amendments in the Companies Act 2017 which were introduced through Companies (Amendment) Ordinance 2020 [“1st Amendment”].
This 2nd Amendment would stand repealed at the expiration of 120 days from the date of its promulgation i.e. 04 November 2020.
This publication contains an analysis of significant provisions of the 2nd Amendment.