Step by Step Conversion of SMC to PVT Ltd

Here is the step by step guide for conversion of single member company to Private limited company.

As per section 47(5) of CA, 2017

If a company, being a single member company, alters its articles in such a manner that they no longer include the provisions which are required to be included in the articles of a company in order to constitute it a single member company, the company shall—
(a) as on the date of the alteration, cease to be a single member company; and
(b) file with the registrar a copy of the memorandum and articles of association as altered along with the special resolution.

As per Regulations 38(1) , Companies Regulations, 2024

Following Documents shall be accompanied with extract of special resolution, amended copy of Memorandum and Articles of Association, NOC of concerned
authority in case doing licensed / specialized business, NOCs of registered charge holders/creditors.

The Company, by passing a Special Resolution, has resolved to convert its status from a Single Member Company (SMC-Private) Limited to a Private Limited Company. In accordance with Section 32 of the Companies Act, 2017, the Special Resolution shall be filed with the Securities and Exchange Commission of Pakistan (SECP) within the prescribed period of fifteen (15) days. Upon confirmation and approval by SECP, the company shall proceed to give effect to the transfer of shares and appointment of a new director, and file the necessary statutory forms to reflect these changes in the public record.”