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Solution The CGBLE Last Exam With Descriptive

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59 views23 pages

Solution The CGBLE Last Exam With Descriptive

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uroojfatima21299
Copyright
© © All Rights Reserved
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ANSWER 1

“Redeemable capital” includes


(i) Sukuk
(ii) other forms of finances obtained on the basis of participation term certificate (PTC)
(iii) Musharika certificate
(iv) Term finance certificate (TFC)
Or
(v) any other security or obligation not based on interest,
representing an instrument or a certificate of specified denomination, called the face
value or nominal value, evidencing investment of the holder in the capital of the
company other than share capital, on terms and conditions of the agreement for the
issue of such instrument or certificate or such other certificate or instrument as the
Federal Government may, by notification in the official Gazette, specify for the
purpose;
ANSWER 2

The public offer for debt securities shall be fully underwritten, except in case of
issuance of Sukuk, where underwriting may not be required in the following
conditions:
i. The issue is made for the repayment of debt;
ii. Utilization of the proceeds of the issue is solely for meeting the working capital
requirement; and
iii. The issuer has alternative funding arrangements in place for meeting short fall,
if any, in the event of undersubscription of the issue.
ANSWER 3

Permission to issue Certificate of Deposit by a Lending NBFC.

NBFCs, excluding those NBFCs which already have valid permission to raise
deposit, may apply to the Commission for permission to raise Deposit, after
complying with the following conditions, namely:-
(a) the NBFC is undertaking activities as a Lending NBFC for a minimum period of
three years and has been, as per the audited accounts, making profits for last two
years;
(b) the NBFC meets the minimum equity requirement as specified in these
Regulations;
(c) the NBFC complies with the Capital Adequacy Ratio as specified in these
Regulations;
(d) the NBFC, or any other NBFC in which its sponsors had a stake of more than
10%, has not defaulted on, or obtained write off on Finance availed from any
financial institution or investor in any of its redeemable capital instruments within
the last five years;
(e) the NBFC, or any other NBFC in which its sponsors had a stake of more than
10%, has not defaulted on any obligation towards any of its depositors, which term
shall include investors in any of its deposit raising arrangements;
(f) the NBFC is listed on a stock exchange:
Provided that the requirement to list the NBFC on a stock exchange shall not apply
to an NBFC which is 100% owned directly by the Federal or Provincial
Governments;
(g) the operations of the NBFC and the conduct of its directors with respect to the
NBFC has been in accordance with law; and
(h) the NBFC has been assigned a credit rating of minimum A- from a credit rating
agency registered with the Commission
Provided that an NBFC which has been assigned a credit rating of minimum BBB
from a credit rating agency registered with the Commission may apply to the
Commission to raise deposits from sources other than individuals, sole proprietors,
provident/gratuity funds, trusts, charitable institutions and section 42 companies.
An NBFC which is in compliance with the provisions of sub-regulation (1) shall
make an application to the Commission along with the evidence of compliance
with regulation 14 sub regulations (1) of the Non-Banking Finance Companies and
Notified Entities Regulations, 2008.

Answer
“financial statements” in relation to a company, shall comprise—
(a) a statement of financial position as at the end of the period;
(b) a statement of profit or loss and other comprehensive income or in the case of a
company carrying on any activity not for profit, an income and expenditure
statement for the period;
(c) other additional statements and information required by the accounting and
financial reporting framework applicable to the company; and
(d) any other statement as may be notified;
Answer (a)
In relation to the section 132
Notice of the meeting specifying the place and the day and
hour of the meeting along with a statement of the business to
be transacted at the meeting shall be given
i. to every member of the company;
ii. to every director;
iii. to any person who is entitled to a share in consequence of
the death or bankruptcy of a member,
iv. to the auditors of the company;
mentioning there in the notice
(i) Agenda/s of meeting
(ii) that members, may demand the company to provide
them the facility of video-link to for attending the
meeting.

Enclosure with the Notice


(i) Instrument of Proxy
(ii) Request form for Video-Link Facility
Further the notice of AGM will also be published in English &
Urdu Newspaper in each having widespread of daily issue.

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