THE COMPANIES (APPOINTMENT OF LEGAL ADVISERS) ACT, 1974 (X of 1974) was promulgated for the appointment of Legal Advisers to companies.
Section 3 of the Companies Appointment of Legal Advisers Act says that Every company shall appoint at least one Legal Adviser on retainership to advise such company in the performance of its functions and the discharge of its duties in accordance with law:
Provided that a company in existence immediately before the commencement of this Act shall be deemed to have complied with the provisions of this sub-section if it appoints a Legal Adviser before the expiration of three months from such commencement. No person other than an advocate or a registered firm shall be appointed to be a Legal Adviser.
Every Legal Adviser appointed by Company shall be paid by the company a retainer which shall in no case be less than [one thousand two hundred] rupees per mensum.
If a company contravenes, or fails to comply with any of the provisions of Companies Appointment of Legal Advisers Act or the rules made thereunder, manager or other officer responsible for the conduct of its affairs shall unless he proves that the contravention or failure took place without his knowledge or that he exercised all diligence to prevent such contravention or failure, he deemed to be guilty of such contravention or failure and be punishable with simple imprisonment for a term which may extend to three months or with fine, or with both.
Irfan Mir Halepota & Associates
Office # E-26, Executive Floor,
Khayaban-e-Iqbal (Clifton Road),
Teen Talwar, Clifton,
Telephone No. +92-21-35642634
Mobile Phone No. +92-321-2057582
Mobile Phone No. +92-300-8233580
You can Contact Us for detailed consultation.
Irfan Mir Halepota, Advocate Supreme Court of Pakistan.
Regular Website: https://www.irfanlaw.com
Submit Your Query For a Legal Advice