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    Section 42 Companies

    Section 42 Company (the Company) includes all those companies that are working on the principle of non-profit earning organizations. It is an organization having a separate identity from the Government and works to help others.
    Benefits

    Because of its separation from Government interaction, it has a fast speed of actions in its execution. Their major execution breaks out when the country needs them in any emergency scenario.

    The company fulfill the condition of "Perpetual Succession". Even if the director is no longer in contact with the company, the organization continues to exist and work.

    Licensing
    For the license acquiring process, first of all, applicant need to file the form of NFP Form 1. When applying for the license, the members (Promotors) must have sufficient knowledge and experience in the execution of the objects of the company.


    Rules & Regulations

    It follows the rules and regulation set under Section 42 under the act of Companies Act, 2017.

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      Attachments

    • CNIC of Trustees

    • Profile of Trustees

    • Qualification/ Education Documents of Trustees


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