Section 445 — Interpretation of provisions of this Part

For the purposes of this
Part—

(a) the expression “certified” means certified in the specified manner to
be a true copy or a correct translation;

(b) the expression “director”, in relation to a company includes any
person in accordance with whose directives or instructions the
directors of the company are accustomed to act;

(c) the expression “place of business” includes a branch, management,
share transfer or registration office, factory, mine or other fixed
place of business, but does not include an agency unless the agent
has, and habitually exercise, a general authority to negotiate and
conclude contracts on behalf of the company or maintains a stock of
merchandise belonging to the company from which he regularly fills
orders on its behalf:
Provided that:
(i) a company shall not be deemed to have an established place
of business in Pakistan merely because it carries on business
dealings in Pakistan through a bona fide broker or general

commission agent acting in the ordinary course of his
business as such;

(ii) the fact that a company has a subsidiary which is
incorporated, resident, or carrying on business in Pakistan
(whether through an established place of business or
otherwise) shall not of itself constitute the place of business
of that subsidiary an established place of business of the
company; and

(d) the expression “secretary” includes any person occupying the
position of secretary, by whatever name called.

PROSPECTUS