The Registration Department is responsible for administration of the Companies Ordinance 1984, and the rules and regulations made there under along with other relevant laws. Its primary functions include registration of companies, regulating their statutory functions, and monitoring of corporate compliance through examination of statutory returns and accounts. These functions are performed by the eight regional offices of the SECP, the Company Registration Offices (CROs). The Registration Department supervises, coordinates, and monitors the workings of the CROs. The Department is headed by Executive Director.

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developmental activities

MARKET DEVELOPMENTS & MARKET ACTIVITIES
Our company portfolio consisted of 47,147 companies as of December 31st, 2005 as compared to 42,913 on December 31st, 2004 an increase of 4,174 companies or 9.87%. Private companies accounted for 91% of the total companies, followed by public unlisted companies at 4.6 % and public listed companies at 1.3%.

Table – I
(Total Number of Companies)

Sector-wise distribution of the total companies reveals 3,438 companies in the textile sector followed by 2,342 companies in services, 1,364 in chemical and pharmaceutical, 2,342 companies in services sector, 1,682 in trading sector, 1,318 companies in communication, 993 companies in information technology and 725 companies in real estate development sector.

NEW INCORPORATION
During quarter ending December 31, 2005 a total of 846 new companies were registered, an increase of 35% over the 629 companies incorporated during the corresponding quarter. Private companies accounted for 90% of these newly incorporated companies. Foreign companies had the largest percentage increase in new incorporation followed by public unlisted and private companies.

The total authorized and paid up capital of the 819 limited by shares companies registered during the quarter amounted to Rs.15,810.95 million and Rs.1,065.20 million respectively. CRO Lahore had the highest number of new incorporations during quarter ending December 31, 2005 followed by Karachi and Islamabad. However, Faisalabad saw the highest percentage increase in new incorporations that of 177% followed by Multan with 87%.

Table – II
(Total Number of New Incorporation)

Of the 846 newly incorporated companies, the most flourishing sector in terms of company incorporation was services whereby 134 companies were incorporated, followed by 88 in import/export, 56 in Information Technology and 49 companies in the real estate development sector.

PERFORMANCE REVIEW
During the quarter, Registration Department has undertaken various measures to promote corporatization, ensure healthy growth of corporate enterprises and improve public facilitation and regulatory compliance by companies. Some of the notable initiatives include establishment of a facilitation counter at CRO Lahore and development of new guideline booklets for awareness of general public and corporations.

Developmental Activities

i) Establishment of a Facilitation Counter at CRO Lahore

As part of its facilitation measures to promote a corporate culture in the country, SECP has established a Facilitation Centre at its Company Registration Office, Lahore on November 12, 2005. The various counters of the Centre such as; Help Counter, Special Services Counter, Receipt Counter and Dispatch Counter, will extend specialized and state-of-the-art facilities, in a time-bound and an effective manner. It is envisaged that the center will go a long way in providing an investor friendly environment, and promoting awareness and assistance to corporatization of businesses

ii) Foreign Companies’ Guide

Booklet named “Foreign Companies’ Guide” has been drafted outlining the legal and statutory requirements for a foreign company incorporated or formed outside Pakistan, willing to establish its place of business within Pakistan. The guide will be placed on our website in near future.

iii) Complaints Lodging and Redressal Guide

To better facilitate general public and stakeholders in submission of complaints, a Complaint Lodging and Redressal Guide has been developed. The guide will be placed on our website in near future.

publications

Director and Secretaries Guide

Guide on Winding up / Dissolution of Companies

Guidelines on making Alteration in Memorandum of Association under section 21 of Companies Ordinance, 1984

Mortgages Guide

Promoters’ Guide

Single Member Company Guide