Learn the SECP annual filing deadline of 28 October, plus Form 19, Form A and Form 9 requirements and audited accounts rules for private companies and SMCs.
- SECP annual filing
- Annual General Meeting SECP
- AGM 28 October
- Form 19 beneficial owner declaration
- Form A annual return
- Form 9 SECP
- Single Member Company filing
- Private Limited Company filing
- Section 42 company
- audited accounts SECP
- Securities and Exchange Commission of Pakistan
If your company is registered with the Securities and Exchange Commission of Pakistan (SECP), you may be unsure which filings are required each year and when they must be made. Missing track of these obligations can create difficulties later, so understanding the annual cycle is important.
This article explains the SECP annual filing deadline and the main forms involved. The rules discussed here apply to Private Limited Companies, Single Member Companies (SMCs) and Section 42 companies. Company owners, directors, business professionals and anyone responsible for corporate compliance will find a clear overview of when to hold the Annual General Meeting (AGM), which forms to file, and when audited accounts must be reported.
When Must the Annual Filing Be Made?
The key date to remember is 28 October.
If your company was registered with SECP before 30 June, the practical approach is to hold your first Annual General Meeting (AGM) by 28 October and report it to SECP as your first filing.
After that, the company must hold its AGM on or before 28 October every year and report it to SECP. In short, 28 October is the date company owners should keep in mind each year.
Forms Involved in the Annual Filing Process
Several forms are involved in this process. The main ones are described below.
Form 19: Beneficial Owner Declaration
Form 19 is the beneficial owner declaration form. It has replaced the earlier Form 45.
- It is mandatory for all companies.
- It reports the details of directors, shareholders and ultimate beneficial owners.
Form A: Annual Return
Form A is the Annual Return.
- It applies to companies that have share capital, which includes both SMCs and Private Limited Companies.
- It is used to report the appointment, re-appointment or retirement of directors.
SMCs may have certain special exemptions with respect to Form A. Even so, it is recommended that the first AGM be held and the filing be made, so that difficulties with banks can be avoided later.
Form 9: Applies to All Companies
Form 9 applies to all companies. A common misunderstanding is that Single Member Companies are exempt from it, but this is not correct. SMCs are not exempt from Form 9.
If there is a change in the position of the company’s directors or in the structure of the company, it must be reported through Form 9.
Audited Accounts: When Are They Required?
Whether audited accounts must be reported depends on the company’s share capital:
- Share capital of Rs. 10 million (1 crore) or more: audited annual accounts must be reported to SECP.
- Share capital below Rs. 1 crore: there is relief in the requirement to file audited accounts.
Legal Advisor Requirement
An additional point to note: for private companies with a share capital of Rs. 7.5 million (75 lakh), there is a requirement to appoint a legal advisor.
Quick Summary of the Main Points
- If the company was registered before 30 June, hold the first AGM by 28 October.
- Every year after that, hold the AGM on or before 28 October and report it to SECP.
- Form 19 is mandatory for all companies.
- Form A (Annual Return) applies to companies with share capital, including SMCs and Private Limited Companies.
- Form 9 applies to all companies, and SMCs are not exempt from it.
- Audited accounts must be reported where share capital is Rs. 10 million (1 crore) or more.
Frequently Asked Questions
Question: Which companies do these SECP annual filing rules apply to? Answer: The rules discussed apply to Private Limited Companies, Single Member Companies (SMCs) and Section 42 companies.
Question: What is the date to remember for the annual AGM? Answer: The date to remember is 28 October. A company registered before 30 June should hold its first AGM by 28 October, and after that the AGM should be held on or before 28 October every year and reported to SECP.
Question: What is Form 19? Answer: Form 19 is the beneficial owner declaration form. It has replaced the earlier Form 45, is mandatory for all companies, and reports the details of directors, shareholders and ultimate beneficial owners.
Question: What is Form A and who files it? Answer: Form A is the Annual Return. It applies to companies with share capital, including SMCs and Private Limited Companies, and is used to report the appointment, re-appointment or retirement of directors.
Question: Are Single Member Companies exempt from Form 9? Answer: No. Form 9 applies to all companies, and SMCs are not exempt from it. Changes in the position of directors or in the structure of the company must be reported through Form 9.
Question: When must audited accounts be reported to SECP? Answer: Audited annual accounts must be reported where the company’s share capital is Rs. 10 million (1 crore) or more. If share capital is below Rs. 1 crore, there is relief in this requirement.
Question: Is a legal advisor required for private companies? Answer: For private companies with a share capital of Rs. 7.5 million (75 lakh), there is a requirement to appoint a legal advisor.
Conclusion
The SECP annual filing cycle revolves around one key date: 28 October. A company registered before 30 June should hold its first AGM by that date and report it, and then hold its AGM on or before 28 October every year. Form 19 is mandatory for all companies, Form A is the Annual Return for companies with share capital, and Form 9 applies to all companies, including SMCs. Companies with share capital of Rs. 10 million (1 crore) or more must report audited accounts.
This article is for general educational purposes and is based on the information discussed in the source video. It should not be treated as legal advice.
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About the Author
Ch. Muhammad Saeed, Advocate High Court Senior Member, High Court Bar Association Lahore
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