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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

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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 regarding preparation and maintenance of proper books of account and circulation of financial statements that give a true and fair view.

Foreign insurance companies are required to settle claims in respect of marine policies covering exports through their head offices on the basis of all the above claim documents. Foreign currency policies may be issued on the lives of foreign nationals where premia is paid by them in foreign exchange or out of remittable Rupee funds of the policy holders as laid down in paragraph 17 ibid. Foreign currency policies can also be issued on the lives of Pakistan nationals domiciled abroad provided premium is paid in foreign exchange only. She earned her Master’s degree in Business Administration and has also attended a number of senior level trainings and courses within Pakistan and abroad. The World Bank Group in its report of March 2020 also ranked her as one of the top five “Women Reformers” who have made it easier to do business around the world. Premia on policies issued in Rupees to non-residents can be collected by remittance from the country in which the policy holder is resident or out of Rupees held in his non-resident account.

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Kickstart is Pakistan’s largest coworking space operator with a mission of creating ease of doing business for SMEs, Startups, and Freelancers. Mr. Jamil Qureshi holds postgraduate qualifications from Tohoku University, Sendai, Japan. Mr. Ansari heads the Business Environment Reforms Wing of BOI, which is responsible for the Ease of Doing Business Reforms as well as the Pakistan Regulatory Modernization Initiative. He is a career Civil Servant who joi ned Pakistan Customs in 1991 and has served at a wide variety of positions across the country. TECH NEWS

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It is the practice with foreign insurance companies, operating in Pakistan, to settle through their head offices all claims arising under the policies issued by them and payable to non-residents. Similarly claims arising in Pakistan under the policies issued by their head offices are settled by their branches in Pakistan. To facilitate such settlements the local branches of overseas insurance companies are allowed to transfer their surplus funds on quarterly, half-yearly or annual basis.