Amendments to Companies (General Provisions and Forms) Rules, 1985 for E-Services

Securities and Exchange Commission of Pakistan .-.-.-.
Islamabad, January 5, 2007
NOTIFICATION
S.R.O.10 (I)/2007.- In exercise of the powers conferred by section 506 of the Companies Ordinance, 1984 (XLVII of 1984), read with clause (b) of section 43 of the Securities and Exchange Commission of Pakistan Act, 1997 (XLII of 1997), the Securities and Exchange Commission of Pakistan, with the approval of the Federal Government, is pleased to direct that the following further amendments shall be made in the Companies (General Provisions and Forms) Rules, 1985, the same having been previously published as required by said the section 506, namely:- In the aforesaid Rules,- (a) in rule 2, in sub-rule (1), after clause (ii), the following new clauses shall be inserted, namely:- “(iia) “electronic document” includes information, forms, records, vouchers, registers, orders, returns, applications, documents, papers, statements, quarterly accounts, annual accounts, communications or transactions in electronic form; (iib) “e-service” means any service or means provided by the Commission for the lodging or filing of electronic documents;”;

(b) after rule 9, the following new rules shall be inserted, namely:- “9A. Mode of submission of documents to the Commission or the Registrar.- Any document required to be filed or lodged with the Commission or the Registrar under the Ordinance may be submitted electronically. 9B. Supply of additional information.- Any additional information required to be submitted along with any form to be filed under the Ordinance may also be submitted through electronic means. 9C. Authentication of forms.- Any form prescribed under these rules shall be authenticated by the companies by affixing electronic signature or advanced electronic signature, as defined under the Electronic Transactions Ordinance, 2002, (LI of 2002).

9D. Filing of electronic documents.- The filing of electronic documents with the Commission or the registrar, as the case may be, shall be made from the date of launching of any E-Services Project of the Commission (hereinafter referred to as the effective date), provided that for a period to be determined by the Commission from time to time, the submission of documents in paper form shall be permissible. 9E. Filing of additional documents in scanned form.- From the effective date specified under rule 9D, the company shall file any additional document required to be submitted to the Commission or the registrar under the Ordinance, in a scanned form. 9F. Mode of payment.- The fee for the filing of documents may be paid through any of the acceptable methods of payment specified by the Commission from time to time.

9G. Electronic filing of documents.- (1) The Commission may provide e-service for the electronic filing or lodging of documents required under the Ordinance to be filed or lodged with the Commission or the registrar. (2) A copy of or an extract from any document electronically filed or lodged with the Commission or the registrar under these rules or supplied or issued by the Commission or the registrar and certified to be a true copy thereof or extract therefrom under the hand and seal of an officer of the Commission or the registrar, shall be admissible in evidence in any proceedings as of equal validity as the original document. (3) Where a document is electronically filed or lodged with the Commission or the registrar, the Commission or the registrar shall not be liable for any loss or damage suffered by any person by reason of any error or omission of whatever nature arising or appearing in any document obtained by any person under the e-service referred under these rules, if such error or omission was made in good faith and in the ordinary course of the discharge of the duties of the Commission or the registrar or occurred or arose as a result of any defect or breakdown in the service or in the equipment used for the provisions of the e￾service.”; (c) in Form-27, in item 5, in heading of column 4, for the word “Description” the word “Occupation” shall be substituted; and (d) for Form-29, the following shall be substituted, namely:-

No. CLD.RD.602(180)/2000
( Muhammad Hayat Jasra )
Secretary