Section 8: Creation and maintenance of modaraba — Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980

Current legal status not independently verified — Source: Pakistan Code (single official PDF, 2026-08-21). Whether this provision is still in force has not been independently verified.

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8. Creation and maintenance of modaraba.__(1) A modaraba company registered under section 4 shall apply to the Registrar, in such form and with such documents as may be prescribed, for permission to float modaraba. (2) An application for floatation of modaraba shall be accompanied by a prospectus which shall contain, inter alia, the following information, namely:__ (i) the name and type of the modaraba; (ii) the conditions and amounts of the modaraba to be floated and the division thereof into Madaraba Certificate of fixed amount; (iii) the business scheme, prospects and mode of distribution of profit; (iv) the amount to be subscribed by the modaraba company to the modaraba in its own name supported by evidence about its ability to meet the commitment; (v) the form of the Modaraba Certificate; and (vi) such other matters as may be prescribed. (3) The application, the prospectus and the documents filed therewith shall be authenticated by all the directors of the company.

Effective date: 1980-01-01

Related sections

Section 7: Types of modaraba Section 9: Religious Board. The Federal Government shall, for the purposes of the Ordinance,Section 6: Application for registration Section 10: Business of modaraba. No modaraba shall be a business which is opposed to the Section 5: Eligibility for registration Section 11: Authorization. __The Registrar may, after obtaining from the Religious Board a certificate

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