Common use of Explanation Clause in Contracts

Explanation. For the purpose of this Clause the expression “accounting income” means income calculated in accordance with the requirements of International Accounting Standards (IAS) as are notified under the Companies Ordinance, 1984, the Regulations and the directives issued by the SECP. Wherever the requirements of Regulations or the directives issued by SECP differ with the requirement of IAS the Regulations and the said directives shall prevail. The Management Company may also announce interim dividend subject to requirements of Regulations, circular and directives.

Explanation. For the purpose of this Clause the expression “accounting income” means income calculated in accordance with the requirements of International Accounting Standards (IAS) as are notified under the Companies Ordinance, 1984, the Regulations and the directives issued by the SECP. Wherever the requirements of Regulations or the directives issued by SECP differ differs with the requirement of IAS the Regulations and the said directives shall prevail. The Management Company may also announce interim dividend subject to requirements of RegulationsRegulations , circular and directives.

Explanation. For the purpose of this Clause the expression “accounting income” means income calculated in accordance with the requirements of International Accounting Standards (IAS) as are notified under the Companies Ordinance, 1984, the Regulations and the directives issued by the SECP. Wherever the requirements of Regulations or the directives issued by SECP differ differs with the requirement of IAS the Regulations and the said directives shall prevail. The Management Company may also announce interim dividend subject to requirements of Regulations, circular and directives.

Explanation. For the purpose of this Clause the expression “accounting income” means income calculated in accordance with the requirements of International Accounting Standards (IAS) Or any other standards as notified by the Commission as are notified under the Companies Ordinance, 1984, the Regulations and the directives issued by the SECP. Wherever the requirements of Regulations or the directives issued by SECP differ with the requirement of IAS the Regulations and the said directives shall prevail. The Management Company may also announce interim dividend subject to requirements of Regulations, circular and directives.

Explanation. For the purpose of this Clause the expression “accounting income” means income calculated in accordance with the requirements of International Accounting Standards (IAS) IFRS as are notified under the Companies Ordinance, 1984Act, the Regulations and the directives issued by the SECP. Wherever the requirements of Regulations or the directives issued by SECP differ differs with the requirement of IAS IFRS, the Regulations and the said directives shall prevail. The Management Company may also announce interim dividend subject to requirements of Regulations, circular and directives.

Explanation. For the purpose of this Clause the expression “"accounting income” " means income calculated in accordance with the requirements of International Accounting Standards (IAS) as are notified under the Companies Ordinance, 1984, the Regulations and the directives issued by the SECP. Wherever the requirements of Regulations or the directives issued by SECP differ with the requirement of IAS the Regulations and the said directives shall prevail. The Management Company may also announce interim dividend subject to requirements of Regulations, circular and directives.

Explanation. For the purpose of this Clause the expression “accounting income” means income calculated in accordance with the requirements of International Accounting Standards (IAS) as are notified under the Companies Ordinance, 1984Act 2017, the Regulations and the directives issued by the SECP. Wherever the requirements of Regulations or the directives issued by SECP differ differs with the requirement of IAS the Regulations and the said directives shall prevail. The Management Company may also announce interim dividend subject to requirements of RegulationsRegulations , circular and directives.

Explanation. For the purpose of this Clause the expression “accounting income” means income calculated in accordance with the requirements of International Accounting Standards (IAS) as are notified under the Companies Com- panies Ordinance, 1984, the Regulations and the directives issued by the SECP. Wherever the requirements of Regulations or the directives issued by SECP differ differs with the requirement of IAS the Regulations and the said directives shall prevail. The Management Company may also announce interim dividend subject to requirements of RegulationsRegulations , circular circu- lar and directives.

Explanation. For the purpose of this Clause the expression “accounting income” means income calculated in accordance with the requirements of International Accounting Standards (IAS) as are notified under the Companies OrdinanceAct, 19842017, the Regulations and the directives issued by the SECP. Wherever the requirements of Regulations or the directives issued by SECP differ differs with the requirement of IAS the Regulations and the said directives shall prevail. The Management Company may also announce interim dividend subject to requirements of Regulations, circular and directives.