Navigating the Companies Easy Exit Regulations (CEER)

The Companies (Easy Exit) Regulations, 2014 (CEER), established by the Securities and Exchange Commission of Pakistan (SECP), provide a streamlined procedure for dissolving dormant or inactive companies. This mechanism allows eligible entities to voluntarily strike their names off the register, thereby avoiding the complexities of formal winding-up processes.osamakhalillaw.com+1secp.gov.pk+1

🏢 What Is the Companies Easy Exit Scheme?

The CEER is designed for companies that are no longer operational and wish to formally cease their existence. By following this procedure, companies can legally dissolve and remove their names from the official register maintained by the SECP.

✅ Eligibility Criteria

Entities eligible to apply under the CEER include:

• Private companies

• Public unlisted companies

• Associations not for profit licensed under Section 42 of the Companies Ordinance, 1984osamakhalillaw.com+1secp.gov.pk+1

However, the following are not eligible:

1. Subsidiaries of listed companies

2. Foreign companies

3. Trade organizations licensed under the Trade Organization Act, 2013

4. Companies with outstanding liabilities (loans, taxes, utility charges, or obligations to government departments or private parties)

5. Companies under investigation, enquiry, inspection, prosecution, or with pending matters before any court or authority

6. Companies with disputes regarding management or shareholding

7. Companies involved in illegal or fraudulent activities

8. Housing and real estate development or real estate marketing companies

9. Companies involved in soliciting public deposits where repayment or delivery of promised goods or services is incomplete secp.gov.pk+2osamakhalillaw.com+2secp.gov.pk+2secp.gov.pk+1osamakhalillaw.com+1

📄 Required Documentation

To apply for striking off under the CEER, the following documents must be submitted to the concerned registrar of companies:secp.gov.pk+3secp.gov.pk+3osamakhalillaw.com+3

1. Form EE-I: Application for striking off the company’s name

2. Form EE-II: Members’ resolution approving the application

3. Form EE-III: Declaration/indemnity confirming the company has no liabilities and is not involved in any legal proceedings

4. Form EE-IV: Auditor’s certificate confirming the company has no assets or liabilities osamakhalillaw.com+2secp.gov.pk+2secp.gov.pk+2osamakhalillaw.com+1secp.gov.pk+1secp.gov.pk

💵 Application Fee

The fee for applying under the CEER is as follows:

• Online submission: PKR 5,000

• Manual submission: PKR 10,000

Note: The online submission fee applies only if the facility for electronic filing is provided by the SECP. osamakhalillaw.com+1secp.gov.pk+1

📌 Step-by-Step Application Process

1. Eligibility Check: Ensure your company meets the eligibility criteria outlined above.

2. Document Preparation: Complete and compile Forms EE-I to EE-IV, along with any supporting documents.

3. Submission: Submit the application and documents to the concerned registrar of companies, either online through the SECP portal or manually.

4. Fee Payment: Pay the applicable fee based on your mode of submission.

5. Await Approval: The registrar will review your application. If all criteria are met, the company’s name will be struck off the register. secp.gov.pk+3osamakhalillaw.com+3secp.gov.pk+3secp.gov.pk+1osamakhalillaw.com+1

📝 Important Considerations

• Accuracy: Ensure all information provided is accurate and complete to avoid delays or rejection.

• Liabilities: Confirm that the company has no outstanding liabilities or legal issues.

• Record Keeping: Maintain copies of all submitted documents and correspondence for future reference