Text Box: Company Law & Procedures Vol I 
 
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06th update dated August 15, 2018
This update covers
-SROs: 601(I)/2018, 656(I)/2018, 696(I)/2018, 731(I)/2018, 732(I)/2018, 733(I)/2018, 766(I)/2018, 770(I)/2018, 771(I)/2018 & 994(I)/2018;
-SECPís: Circular No. 04 & 08 of 2018; and
-ICAPís: Circular No. 06 to 10 of 2018 & QCR rating list of CA firms.
These are briefly explained as follows:Ė
Part AI Ė Companies Act, 2017
1.     On page AI-66(1), SECPís Circular No. 08 of 2018 dated June 13, 2018 has been reproduced. This is re: Policy on Establishment & Functioning of Private Security Companies, 2018.
2.     On page AI-162(1), the updated list as on August 03, 2018 has been reproduced for CA Firms having satisfactory QCR rating.
3.     On page AI-162(34), ICAPís Circular No. 06 of 2018 dated July 11, 2018 has been reproduced. This is re: Invitation to Comment on Exposure Draft of the Joint Audit Guidelines.
4.     On page AI-162(35), ICAPís Circular No. 07 of 2018 dated July 13, 2018 has been reproduced. This is re: Amendments to Revised Accounting and Financial Reporting Standard for Small-sized Entities.
5.     On page AI-162(35), ICAPís Circular No. 08 of 2018 dated July 19, 2018 has been reproduced. This is re: Illustrative Financial Statements and Disclosure Checklist in accordance with IFRS for SMEs and Fifth Schedule of the Companies Act 2017.
6.     On page AI-162(36), ICAPís Circular No. 09 of 2018 dated July 20, 2018 has been reproduced. This is re: Your Questions Answered on the Financial Reporting under the Companies Act 2017 and Disclosure Checklists for the Fourth and Fifth Schedules.
7.     On page AI-162(37), ICAPís Circular No. 10 of 2018 dated August 10, 2018 has been reproduced. This is re: Your Questions Answered on the New Auditor's Report.
8.     On pages AI-349 onwards, Table F of the First Schedule has been amended by SRO 732(I)/2018 dated June 07, 2018. This is re: Memorandum of Association.
9.     On page AI-413, Seventh Schedule has been amended by SRO 766(I)/2018 dated June 13, 2018. This is a minor change re: Fees under Corporate Governance Regulations.
Part III Ė Rules and Regulations
10.  On pages III-84K onwards, Circular No. 36 of 2009 & Circular No. 6 of 2013 has been amended by Circular No. 04 of 2018 dated April 27, 2018. This is re: Investment and Allocation Policies for Pension Funds Authorized Under the Voluntary Pension System Rules, 2005.
11.  On page III-84N, SRO 771(I)/2018 dated June 14, 2018 has been reproduced. This is re: Mutual Funds VPS.
12.  On page III-252, SRO 120(I)/2016 dated February 15, 2016 has been amended by SRO 994(I)/2018 dated August 10, 2018. This is re: Central Depositories (Licensing and Operations) Regulations, 2016.
13.  On page III-727, SRO 601(I)/2018 dated May 10, 2018 has been reproduced. This is re: Limited Liability Partnership Regulations, 2018.
14.  On page III-752, SRO 656(I)/2018 dated May 24, 2018 has been reproduced. This is re: Jurisdiction extending to Limited Liability Partnerships (LLPs).
15.  On page III-753, SRO 696(I)/2018 dated June 01, 2018 has been reproduced. This is re: Credit and Suretyship (Conduct of Business) Rules, 2018.
16.  On page III-759, SRO 731(I)/2018 dated June 06, 2018 has been reproduced. This is re: Employees Contributory Funds (Investment in Listed Securities) Regulations, 2018. It also repealed Employeesí Provident Fund (Investment in Listed Securities) Rules, 2016.
17.  On page III-765, SRO 733(I)/2018 dated June 07, 2018 has been reproduced. This is re: Association with Charitable and Not for Profit Objects Regulations, 2018. It also repealed the following:-
(i)         Rule 6 of Companies (General Provisions and Forms) Rules, 1985; 
(ii)        Circular No. 29 of 2008 dated December 24, 2008;
(iii)       Circular No. 4 of 2009 dated February 27, 2009;
(iv)       Circular No. 12 of 2011 dated August 19, 2011;
(v)        Circular No. 2 of 2012 dated January 16, 2012;
(vi)       Circular No. 02 of 2015 dated January 01, 2015;
(vii)      Circular No. 04 of 2015 dated January 30, 2015;
(viii)     Circular No. 05 of 2015 dated January 30, 2015;
(ix)       Circular No. 28 of 2015 dated August 10, 2015;
(x)        Circular No. 45 of 2015 dated December 16, 2015;
(xi)       Circular No. 13 of 2016 dated April 05, 2016;
(xii)      Circular No. 16 of 2016 dated April 11, 2016;
(xiii)     Circular No. 34 of 2016 dated November 07, 2016;
(xiv)      S.R.O 527(I)/2016 dated June 07, 2016; and
(xv)       S.R.O 285(I)/2017 dated April 18, 2017.
18.  On page III-793, SRO 770(I)/2018 dated June 13, 2018 has been reproduced. This is re: SECP (Anti Money Laundering and Countering Financing of Terrorism) Regulations, 2018. It also repealed the followings:-
(a)        Circular No. 28 of 2017;
(b)        Circular No. 12 & 29 of 2009; and
(c)         SRO 20(I)/2012 dated.