LEASING LAW:

As per Section 2 (15A) (b) of the Companies Ordinance 1984, Financial Institution
incorporates a Leasing company. The arrangement as to foundation and guideline of leasing company is contained in Section 282-An of the Companies Ordinance 1984, which is enrolled in the Non -Banking Finance Companies (NBFC’s). The Federal Government has caused rules for the foundation and guidelines of NBFC’s which incorporate the standards for the leasing company. It can’t be incorporated without earlier approval of the Securities and Exchange Commission of Pakistan and a permit is given by it. Considering the handy challenges being looked by the NBFC’s, occupied with the matter of renting just (recently known as renting organizations), in offering impact to their business exchanges and arrangement of records, the Commission thinking of it as fundamental and convenient so to do, has chosen to give bearings for the previously mentioned NBFC’s. The Commission consequently, in the exercise of the forces gave by Section 282-D of the Companies Ordinance 1984 has coordinated all endeavors, the matter of renting just to lead their business incongruity with the bearings/guidelines, called Prudential Regulations for NBFC’s endeavour, which are like the guidelines recommended through the Leasing Companies (Establishment and Regulations) Rules 2000.