Page 268 - Pakistan Oilfield Limited - Annual Report 2022
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PAKISTAN OILFIELDS LIMITED
Notice of
Annual General Meeting
3. PARTICIPATION IN THE ANNUAL GENERAL MEETING:
A member entitled to participate and vote at this meeting is also entitled to appoint another proxy to
participate and vote on his/her behalf. Proxies in order to be effective must be received at the Registered
Office of the Company duly stamped and signed not later than 48 hours before the time of the meeting.
For appointing proxies
a. In case of individuals, the account holders or sub account holders whose registration details are
uploaded as per regulations, shall submit the proxy form as per the above requirements. The
proxy form shall be witnessed by two persons whose names, addresses and CNIC numbers shall
be mentioned on the proxy form. Copies of CNIC or the passport of the beneficial owners and the
proxy shall be furnished with the proxy form.
b. In case of corporate entities, the Board of Directors’ resolution / power of attorney with specimen
signature of the person nominated to represent and vote on behalf of the corporate entity, shall
be submitted (unless it has not been provided earlier) along with proxy form to the Company.
4. CONFIRMATION OF “FILER” STATUS FOR INCOME TAX WITHHOLDING ON CASH DIVIDEND
For cash dividend, the rates of deduction of income tax, under section 150 of the Income Tax Ordinance,
2001 are as follows:
a. Rate of tax deduction for filer of income tax returns 15%
b. Rate of tax deduction for non filer of income tax returns 30%
In case of joint account, each holder is to be treated individually as either a filer or non filer and tax will
be deducted on the basis of shareholding of each joint holder as may be notified by the shareholder,
in writing to the Company / Share Registrar. If no notification is received, each joint holder shall be
assumed to have an equal number of shares.
The CNIC number / NTN detail is now mandatory and is required for checking the tax status as per the
Active Taxpayers List (ATL) issued by the Federal Board of Revenue (FBR) from time to time.
5. EXEMPTION FROM DEDUCTION OF INCOME TAX / ZAKAT:
Members seeking exemption from deduction of income tax or are eligible for deduction at a reduced
rate are requested to submit a valid tax withholding exemption certificate or necessary documentary
evidence for this purpose. Members desiring non-deduction of zakat are also requested to submit a
valid declaration for non-deduction of zakat.
CDC account holders are requested to submit their declaration for non-deduction of zakat to the relevant
member stock exchange or to CDC if maintaining CDC investor account.
6. PAYMENT OF DIVIDEND THROUGH BANK ACCOUNT OF THE SHAREHOLDER:
Pursuant to the requirement of Section 242 of the Companies Act, 2017, shareholders are MANDATORILY
required to provide their International Bank Account Number (IBAN) to receive their cash dividend directly
in their bank accounts instead of dividend warrants. In this regard and in pursuance of the directives of
