In Pakistan, Companies Act 2017, Trust Acts (of Federal, Provinces, AJK, GB), Charities Acts of Provinces and Societies Act 1860 govern non-profit organizations. But what is Section 42? – Wait, I am discussing it in the coming paras.
Section 42 (of the Companies Act 2017) gives features of a company to an NGO, a charity or society. Other acts do not give charitable organizations the status of company – limited liability, perpetual succession etc. Sec 42 governs matters of registration of charities, NGOs and welfare organizations.
Here, we are sharing the link where you can download it and save it in PDF version.
SECP is the Securities and Exchange Commission of Pakistan which is the regulator of the corporate sector and capital market. SECP issues licenses to non-profit organizations under section 42 of the Companies Act 2017.
List of approved objects for charities, NGOs, societies and welfare organizations under Section 42
- Advocacy, Research and Public Policy
- Agriculture, Livestock and Fish Farming
- Animal Rights
- Arts, Culture and Humanities
- Charity
- Religion
- Commerce
- Community Development
- Disaster Response Programme
- Education
- Educational Institutions
- Employees Housing Foundation
- Energy Conservation
- Environmental Protection
- Fitness Centers / Clubs
- Good Governance
- Health and Education
- Healthcare
- Hospitals / Clinics
- Information and Communication Technologies
- Infrastructure Development
- Local Support Organization
- Media and Communication
- Microfinance services
- Orphanage
- Provision of food and shelter services
- Rehabilitation Services
- Research and Development
- Rural Support Programme
- Science and Technology
- Social Welfare
- Sports and Tourism
- Vocational Trainings
- Water Sanitation and Hygiene
- Women Development
- Youth Development
- Sports Goods
- Other useful objects allowed by SECP
The Disclaimer
ConSerIC is an accounting and business consultancy firm. We have applied our diligence in compiling this list. This list is based on SECP legal resources and our practice experience.
SECP is the regulator and final authority to decide on licensing. It has powers to change rules, cancel licenses and dissolve charity. SECP keeps on changing rules as per their needs and policies.
Before making any decision on the basis of content on our website, you should perform your diligence and research. ConSerIC is not responsible for your actions, their outcomes and SECP decisions.
Source links and references
ConSerIC is sharing source links and references.
- Section 42 of the Companies Act 2017
- The Association Not for Profit and Charitable Organizations 2018