Regulatory Alerts2021-01-11
Added · Updated
Amendment to the Central Depository (Licensing & Operations) Regulations 2016
The Securities and Exchange Commission of Pakistan amends Regulation 6(1) of the Central Depository (Licensing & Operations) Regulations 2016 to impose specific minimum paid-up capital and net-worth requirements on central depositories registered prior to the notification's commencement. These entities must maintain the specified financial thresholds within timelines to be determined by the Commission. The amendment applies to existing central depositories operating under the regulatory framework.
GOVERNMENT OF PAKISTAN SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN -.-.-.- NOTIFICATION Islamabad, the 11th January, 2021 S. R. O. 18 (I)/2021.- In exercise of the powers conferred by section 169 read with sections 48 and 49 of the Securities Act, 2015 (III of 2015), the Securities and Exchange Commission of Pakistan hereby makes the following amendment in the Central Depository (Licensing & Operations) Regulations 2016, the same having been previously published in the official Gazette vide S. R. O. 1227(I)/2020 dated 17th November, 2020 and placed on the website of the Commission as required under sub-section (4) of the said section 169, namely:- AMENDMENTS In the aforesaid regulations, in regulation 6, in sub-section (1), for the second proviso and the table, the following shall be substituted, namely:- “Provided further that a central depository registered with the Commission prior to commencement of this notification shall be required to maintain such minimum paid-up capital and net-worth and within such timelines as may be notified by the Commission.” [File No. Sy/SECP/8/13]