2018-04-18
Added · Updated
The Securities and Exchange Commission of Pakistan amends the Companies (Incorporation) Regulations, 2017, to allow applicants to file either separate or combined applications for name reservation and company incorporation. The updated regulations introduce new modes of fee payment, including credit and debit cards, and specify that name reservations are valid for sixty days. It also establishes detailed requirements for foreign subscribers, including security clearance procedures from the Ministry of Interior and authentication of foreign documents. Additionally, the amendments update forms, definitions, and provisions regarding articles of association and the signing of incorporation documents.
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GOVERNMENT OF PAKISTAN
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN Islamabad, the 17th April, 2018 NOTIFICATION S. R. O. 483 (I)/2018.- In exercise of the powers conferred by sub-section (1) of
section 512 read with section 10, 14, 16 and 17 of the Companies Act, 2017 (XIX of 2017),
the Securities and Exchange Commission of Pakistan is pleased to notify the following amendments to the Companies (Incorporation) Regulations, 2017, the same having been previously published vide notification S. R. O. 274 (I)/2018 dated March 01, 2018, namely:- In the aforesaid Regulations,- (1) In regulation 2, in sub-regulation (1), — (a) for clause (ii), the following shall be substituted, namely: — “(ii) “annexure” means an annexure appended to these regulations;”; (b) after clause (ii) substituted as aforesaid, the following new clause shall be inserted, namely: — “(iia) “authorized intermediary” shall have the same meaning as assigned to it in clause (iii) of sub-regulation (1) of regulation 2 of the Intermediaries (Registration) Regulations, 2017;”; (c) after clause (iii), the following new clause shall be inserted, namely:- “(iiia) “form” means form appended to these regulations; and”; (2) for regulation 3, the following shall be substituted, namely: — “3. Reservation of Name. – (1) Any person desirous of forming a company shall have the option to file either separate application for reservation of name in the manner as provided in sub-regulation (2) of this regulation or combined application for reservation of name and incorporation of company in the manner as provided in sub-regulation (3) of regulation 5. (2) Separate application for reservation of name in terms of subsection (4) of section 10 of the Act shall be made along with non-refundable
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Amended 2 times · last 2023-10-31
Source: Securities and Exchange Commission of Pakistan — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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SECP published 3 documents in the last 30 days. We email you each new one the day it's published.