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In the name of Allah, Most Gracious, Most
Merciful

THE BUSINESS LAW
Presented by;
RAFIQUE AHMED
Advocate High Court
LL.M,LL.B (Hon’s)
In-House Legal Counsel
Pak Telecom Mobile Limited (PTML)
email: rafiqueah@gmail.com

COURSE OVERVIEW
 Provides an understanding of the legal framework of business
in Pakistan
 Offers experiential analysis to understand the challenges of
Market in managing legal risks
 The course provides an excellent understanding of the
Business Law to help management in business decision-
making
 It covers various laws relevant to business practices, i.e.
• Company Law and Regulatory Law
• Law of Contract

COURSE OVERVIEW (Cont:)
• Law of Partnership
• Law of Negotiable Instruments
• Law relating to transfer of property
• Law relating to sales of goods and carriage of goods
• Law of Trust
• Law of Insurance Labour laws i.e Industrial Relations Act & Ordinance,
Factories Act, Workmen’s Compensation Act, Payment of Wages Act,
Minimum Wages Ordinance, Employees’ Old-Age Benefits Act, Social
Security Law

 Literary Meaning
 Definitions
 Structure
 Characteristics
 Nature of Business
 Component of Business
o Industry
o Commerce
CONCEPT OF BUSINESS

CONCEPT OF LAW
 Literary Meaning
 Definitions
 History of Law
 Natural Law and Positive Law
 Classification of Law
 Sources of Law
 History of Business Law
 Understanding of Law and Litigation
 Corporate Law
 An Overview of Regulatory Law

BUSINESS ORGANIZATION
Scope Of Business Organization
 Types of Business
• Sole Proprietorship
• Partnership
• Company
• Cooperative Societies
• Combination

FORMATION OF BUSINESS
Sole Proprietorship
 Incorporated & Unincorporated Proprietorship
 Concept of Small and Medium Enterprise (SME)
 Partnership (Under the Partnership Act 1932)
 Nature of Partnership
 Registration of Firm
 Profit and Loss Distribution
 Limited & Unlimited Liability
 Number & Relation of Partners
 Dissolution

 COMPANY (Under Companies Ordinance 1984)
 Concept of Natural and Legal Person
 Corporate Law Authority (Statutory Body)
 Incorporation of Companies
 Statutory Requirements
o Name of Company
o Types of Companies
o Memorandum of Association
o Article of Association
FORMATION OF BUSINESS (Cont:)

FORMATION OF BUSINESS (Cont:)
• Prospectus, Allotment, Issue and Transfer of Shares
• Share Capital & Debentures
• Management and Administration of Company
o Registration of office
o Register of Members and Debenture Holders
o Meetings and Proceedings
o Directors
o Chief Executive
o Non-Banking Finance Companies
o Modaraba Company
o Winding Up
 COMBINATION

STATUTORY AND REGULATORY
BODIES
 Introduction
 Difference Between Statuary and Regulatory Bodies
 Types of Regulatory Bodies
• License of Business
• License issuing Authorities
• General Terms and Conditions of License
• Difference between License and Contract
• Regulatory Aspects of Business
o Financial Aspects (Under Companies Law/Tax Law)
o Manpower Aspects (Under Labour Law)
o Infrastructural Aspects (Under Regulatory Law)

AN OVERVIEW OF APPLICABLE
LAWS
 Laws Relevant to Financial Functions
 Companies Ordinance 1984
 Income Tax Ordinance 2001 (with Amendments)
 Sales Tax Act 1990
 The Federal Excise Act, 2005
 Laws Relevant to Manpower Functions
 West Pakistan Shops and Establishments Ordinance,1969
 West Pakistan Industrial & Commercial Employment (Standing
Orders) Ordinance, 1968
 Industrial Relations Act, 2008-2012
 The Factories Act, 1934

AN OVERVIEW OF APPLICABLE
LAWS (Cont:)
 The Minimum Wages Ordinance, 1961
 The Payment of Wages Act, 1936
 The Employees’ Old-Age Benefits Act, 1976
 The Workmen’s Compensation Act, 1923
 the Provincial Employees Social Security Ordinance,
1965

LAW RELATED TO THE EXCHANGE
OF BUSINESS INTEREST
 Contract Act, 1872
o Scope & Significance of the Contract
o Offer, Acceptance and Consideration
o Essentials of Contract
o Kinds of Contract
o Legal Capacity of Parties to a Contract
o Basic Elements for Creation a Draft of Contract
o The Legal Requirements of a Contract
 Negotiable Instruments Act, 1881
 Sales of Goods Act, 1930
o The Role of the International Chamber of Commerce (ICC)
o Incoterms

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