In Pakistan, What Are The Basic Essentials For A Public Company?

A public company comes into being when any three or more persons assemble and associate with each other for a lawful and legitimate purpose by subscribing all their names to a Memorandum of Association and moreover abiding by the respective guidelines and fiats of the official and universal corporate ordinance of the area that the company is operating in. This is done to ensure a smooth registration process for the company. After the incorporation of the company if the number of the company gets reduced to less than three members and still the business goes on for a period of six months or more with the same reduced number of members (in other words, less than three members), each member of the company who is aware of this very fact is obligated acutely to pay the entire debt that the company has over it during that very period and also face the menace of being sued without any kind of rejoining given in the suit of another company member.

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