As a housing society, whether a co-operative society or an authority or a private commercial enterprise, what law governs the functioning of these ventures?
The law governing co-operative societies is the Co-Operative Societies Act, 1925 however presently companies incorporated under the Companies Ordinance, 1984 are also carrying out the business of land development. The Security & Exchange Commission of Pakistan (SECP) has a supervisory and regulatory authority over all such companies to ensure that various requirements of law are been complied with. The record of such companies can be checked/inspected in SECP.
