The Companies Ordinance 1984 is a broad piece of Pakistani legislation that, according to its own preamble, is "An Ordinance to consolidate and amend the law relating to companies and certain other associations".
It encompasses all legal rules and regulations for businesses registered with Security and Exchange Commission of Pakistan (SECP) and is enforced by that agency.
As company is person in the eye of law, it can own property.
The Ordinance also provides legal protection and regulates the business community of Pakistan, with the SECP keeping a close check on financial and corporate entities to insure stakeholder’s interest.
[2] The previous Indian Companies Act 1913 was in practice for the same purposes.