Syllabus of CFAP2 Corporate Law

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Syllabus GRID:

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Course Outline:

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Companies Act, 2017 (Section 1 to 275) and relevant rules
Companies Act, 2017 (Section 1 to 275)
Companies (Postal Ballot) Regulations, 2018
First, Second and Third Schedules of the Companies Act, 2017
Listed Companies (Buy- Back of Shares) Regulations, 2019
Employees Contributory Fund (Investment in Listed Securities) Regulations, 2018
Companies (Investment in Associated Companies or Associated Undertakings) Regulations, 2017
Companies (Further Issue of Shares) Regulations, 2020

Mediation, Arbitration, Arrangement, Reconstruction, Management, Winding up and other related matters under Companies Act, 2017 and Non-Banking Finance Companies

Non-Banking Finance Companies     

Companies Ordinance, 1984 (Section 282A to 282M)         

NBFC (Establishment and Regulation) Rules, 2003- Rules 1 to 7   

The Non-banking Finance Companies and Notified Entities Regulations, 2008  (Regulation 2, 3, 9, 10, 10A, 15B, 16 to 18, and 25)

Mediation, Arbitration, Arrangement and Reconstruction    

Companies Act, 2017 (Section 276 to 292)   

Winding up and other matters

“Companies Act, 2017

(293 to 302, 304 to 306, 315 to 321, 323, 325, 329, 334 to 342, 344 to

351, 353, 354, 356 to 392, 406, 407, 416 to 419, 424, 426 to 429, 432 to

447, 451 to 453, 464, 466 to 468, 471 to 473)”         

Other laws and regulations, governance , ethics and professionalism           

Other laws and regulations    

Securities Act, 2015 (Section 2, 63 to 65, and 87 to 131) and Relevant Rules and Regulations made thereunder      

Rules and Regulations related to prospectus and statement in lieu of prospectus    

Pakistan Stock Exchange  Rule Book (Chapter 5)    

“Public Offering Regulations, 2017

• Chapter I [excluding 2 (i), (iii), (xvi), (xvii), (xxii), (xxiv), (xxv), (xxvii), (xxix), (xxx), (xliii), (xliv), (xlvi), (xlvii), (xlviii), (liii), (liv), (lv), (lvi), (lvii)]
• Chapter II
• Chapter III
• Chapter IV
• Chapter V
• First Schedule”           

Listed Companies (Prohibition of Insider Trading) Guidelines        

Central Depository Act, 1997 (Section 1 to 19)        

Foreign Exchange Regulations Act, 1947 (Section 1 to 9 and 12) and Foreign Exchange Manual of State Bank of Pakistan (Chapter 19 and 20)        

Listed Companies (Substantial Acquisition of voting shares and Takeovers) Regulations, 2017    

“Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980 (section 2, 4 to 23, 33, 37, 41 and 42 ) and Related Modaraba Rules, 1981

syllabus of CFAP2 Corporate Law

syllabus of CFAP2 Corporate Law syllabus of CFAP2 Corporate Law syllabus of CFAP2 Corporate Law syllabus of CFAP2 Corporate Law syllabus of CFAP2 Corporate Law syllabus of CFAP2 Corporate Law syllabus of CFAP2 Corporate Law syllabus of CFAP2 Corporate Law

Effective from Summer 2019,
Any revision and amendment in legislation, standard, code, guideline and statement shall
not be part of syllabus before six months’ period elapsed:
a) in case of legislation, from the date of publication thereof by the issuing authority;
b) in case of revised or new standard, code, guideline and statement, from the date of
publication of study material by the Institute or date of application prescribed by the
issuing authority of the same, whichever is later; and
c) in case of changes in existing standard, code, guideline and statement, from the date
of publication or notification by the Institute even if they are applicable on a later date.
Provided that Finance Act or Ordinance, and notifications and circulars relating to Finance
Act or Ordinance, issued four months prior to the date of examination shall be considered

forming part of syllabus, in case of CFAP.

For Winter 2021 attempt:
 International financial reporting standards (IFRS) edition 2020 will be applicable.
 International auditing and assurance standards (ISA) edition 2018 will be applicable.

 Code of ethics edition 2019 will be applicable.

Syllabus – Testing Levels
*Testing Level and assessment of contents of earlier stages of qualification
The following policy for testing level and assessment of contents shall be applicable for
Accounting related subjects i.e. (CAF 1 Introduction to Accounting, CAF 5 Financial Accounting
and Reporting-I, CAF 7 Financial Accounting and Reporting-II and CFAP 1 Advanced
Accounting and Financial Reporting)
a. Technical contents assessed at earlier stages of qualification will be tested in later stages
with a limit of 8 marks per topic in an attempt.
b. The contents of syllabus may classify topics at three testing levels from 1 to 3 with a
maximum limit per question as 8, 20 and 25, respectively.
c. The overall marks of earlier stage topics and testing level-1 topics, as mentioned above, will
have a maximum limit of 35 marks in aggregate in an attempt.
*Explanation: A topic of CAF 1 can be examined in CAF 5, CAF 7 and CFAP 1 even if it is not in
the syllabus or study material of the later stage papers, likewise CAF 5 topics can be examined
in CAF 7 and CFAP 1; and CAF 7 topics can be examined in CFAP 1.