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of <h1>Companies Act Amended: Apply for Relaxation or Face Share Transfer; New Penalties Include Up to One Year Imprisonment</h1> Section 90 of the principal Act has been amended by the Companies (Amendment) Ordinance, 2019. Sub-section (9) is replaced to allow a company or aggrieved person to apply to the Tribunal for relaxation or lifting of restrictions within one year from the Tribunal's order. If no application is filed within this period, the shares will be transferred without restrictions to the authority under section 125(5). Sub-section (10) is amended to include imprisonment for up to one year as a possible punishment and allows for both fines and imprisonment as penalties.
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