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To determine the terms of and the circumstances in which a law suit may be compromised and a claim or right in favour of a company may be released, extinguished or relinquished. Any casual vacancy in the Board of Directors of a company is filled up by the directors. The issue of personal accident policies is governed by the same conditions as those applicable to life policies. Insurance cover on non-marine risks inside Pakistan can be issued in Rupees only. Nothing in this paragraph shall affect the operation of the warehouse clause in marine insurance policies.  Custom Packaging Sign In For The Full Experience To strengthen the dispute resolution mechanism in order to resolve disputes within trade organizations. Licensing and regulating trade organizations strictly in accordance with the laid down criteria to block the emergence of fake trade organizations, which might defeat the purpose of the law. The directors are responsible for compliance with the statutory requirements regar

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