Company Law & Procedures Vol II

 

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84th update dated January 20, 2018

This update covers

-SROs: 1199(I)/2016 and 1200(I)/2016; 1246(I)/2017, 1259(I)/2017, 1260(I)/2017, 1278(I)/2017 & 1279(I)/2017;

-SECP’s Circulars: 30 of 2017; and

-SECP’s Direction: 26 of 2017 & 37 of 2017.

These are briefly explained as follows:–

Part I–Securities & Exchange

       1.     On page 28.61, SRO 1259(I)/2017 dated December 14, 2017 has been reproduced. This is re: Pakistan Mercantile Exchange Limited.

Part II–SECP

       2.     On page 74Z(93), SRO 701(I)/2017 dated July 15, 2017 has been superseded by SRO 1260(I)/2017 dated December 19, 2017. This is re: Jurisdiction Portfolio of Commissioner.

       3.     On pages 74Z(116) onwards, SRO 1246(I)/2017 dated December 08, 2017 has been reproduced. This is re: Jurisdiction Powers of Executive Director/ Head of Islamic Finance Department.

Part IV–CDC & PSX

       4.     On page 203, Regulation 43 has been amended by SRO 1278(I)/2017 dated December 21, 2017. This is re: SE Demutualization Regulations, 2012 - Shareholding Limited.

Part V–NBFC’s

       5.     On page 244, SECP’s Direction No. 26 of 2017 dated November 08, 2017 has been reproduced. This is re: Withdrawal of Liquidity Requirements for Mutual Funds.

       6.     On page 244, SECP’s Circular No. 30 of 2017 dated November 24, 2017 has been reproduced. This is re: Requirements for Constant Proportion Portfolio Insurance (CPPI) based Collective Investment Schemes (CIS).

       7.     On page 244, SECP’s Direction No. 37 of 2017 dated December 29, 2017 has been reproduced. This is re: Withdrawal of Liquidity Requirements for Mutual Funds.

Part VA–NBFC and Notified Entities Reg.

       8.     On pages 49 onwards, Regulations 37, 38, 58, 60 & Schedules have been amended by SRO 1279(I)/2017 dated December 21, 2017. These are re: Asset Management Services etc.

Part VII–Competition

       9.     On pages 35 onwards, Competition Commission (Conduct of Business) Regulations, 2007 has been amended by SRO 1200(I)/2016 dated December 25, 2016.

       10.   On pages 59 onwards, Competition Commission (General Enforcement) Regulations, 2007 has been amended by SRO 1199(I)/2016 dated November 26, 2016.