Section 4: Registration of the company

4. Registration of the company.___ (1) Pursuant to the scheme for amalgamation made under section 3, the Federal Government shall, in collaboration with the shareholders of the R.D.F.C. and S.B.F.C., form a public limited company and register the same under the Companies Ordinance, 1984 (XLVII of 1984). (2) Notwithstanding anything contained in section 470 of the Companies Ordinance, 1984 (XLVII of 1984), and the Sixth Schedule thereto, the company shall be exempt from the payment of any registration fee or any other charges for the purpose of its registration. (3) The value ascribed to the assets and liabilities transferred to, and vested in the company by the Federal Government under the order shall represent the fair net value of the assets for taxation, depreciation or any other purposes. (4) No stamp duty or any other charges shall be payable by the company under -any law for the time being in force for the transfer and vesting of the assets, contracts, liabilities, proceedings or undertakings of the R.D.F.C. and S.B.F.C. to the company or any shares or securities issued in favour of the shareholders or financiers of the R.D.F.C. and S.B.F.C. by the company.

Effective date: 2001-01-01

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