Amendments to Non-Banking Finance Companies and Notified Entities Regulations 2008

GOVERNMENT OF PAKISTAN
Securities and Exchange Commission of Pakistan -.-.-.- Islamabad, the 22nd February, 2024 NOTIFICATION S.R.O. 297 (I)/2024.- In exercise of the powers conferred by sub-section (2) of section 282B of the Companies Ordinance, 1984 (XLVII of 1984), the Securities and Exchange Commission of Pakistan hereby makes the following amendments in the Non-Banking Finance Companies and Notified Entities Regulations, 2008, the same having been published in the official Gazette vide S.R.O. 936(I)/2022 dated June 22, 2022, namely: - AMENDMENTS In the aforesaid Regulations, - (1) in regulation 67F, in sub-regulation (2), in the proviso, for the full stop a colon shall be substituted and thereafter the following new proviso shall be inserted, namely: - “Provided further that there shall be no sales load payable on employer pension funds.”; (2) in regulation 67G, - (a) in sub-regulation (1), -
i. in clause (c), after the word “commodity” the term “cash settled” shall be
inserted and after the expression “2.5”, “; and” shall be inserted;
ii. after clause (c) as amended aforesaid, the following new clause shall be
inserted, namely: -
“(d) Commodity (deliverable) fund upto 3%”;
iii. after newly added clause (d) as aforesaid, the following proviso shall be
inserted, namely: -
“Provided that in case of employer pension fund, the total expense ratio of a pension fund shall be as per the agreement between employer and pension fund manager and shall be disclosed in the offering document”; (b) in sub-regulation (3), after the expression “sub-regulations (2) and (3),” the expression “except clause (t) of Schedule XX” shall be added; (c) in sub-regulation (5), for the word “disclosure” the word “disclose” shall be