Amendments in Group Companies Registration Regulations, 2008

PART II

Statutory Notification (S.R.O)

SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN

Islamabad, September 7, 2009

NOTIFICATION

S.R.O 780 (I)/2009.- In exercise of powers conferred by section 506A of the Companies Ordinance, 1984 (XLVII of 1984), the Securities and Exchange Commission of Pakistan is pleased to direct that the following amendments shall be made in the Group Companies Registration Regulations, 2008, the same having been published previously as required by the proviso to sub-section (1) of section 506A, namely:-

In the aforesaid Regulations, -

(1) in regulation 7, in clause (i),-

(i) for the word "is" the words "companies are" shall be substituted and thereafter after the word "Governance" the comma and the words ", wherever applicable" shall be added ;

(2) in regulation 8,-

(i) in sub-regulation (1), after the word "the" appearing for the third time, the words "companies within the" shall be inserted; and

(ii) in sub-regulation (2), after the word "the" appearing for the second time, the words "companies within the" shall be inserted and thereafter,-

(I) in clause (i), in sub-clause (c), after the word "directors" the words "and a certificate that no tax demand is outstanding against any company within the Group" shall be omitted;

(II) in clause (ii),-

(A) in sub-clause (c), after the word "directors" the words "and a certificate that no tax demand is outstanding against any company within the Group" shall be omitted;

(B) in sub-clause (d),-

(a) for the words "has been continued" the word "is" shall be substituted; and

(b) the comma and words ", for a period of at least five years" shall be omitted; and

(C) sub-clause (e) shall be omitted.

No. RD/602(21)/2007

(Abdul Rahman Qureshi)
Advisor/Secretary