Regulatory Alerts2025-07-29
Added · Updated
Amendments to the Companies Regulations, 2024
The Securities and Exchange Commission of Pakistan amends the Companies Regulations, 2024 to mandate the collection and reporting of detailed Ultimate Beneficial Owner (UBO) information. Companies must issue annual notices to members holding at least five percent of shares or voting rights to obtain UBO particulars, including CNIC/NICOP/Passport numbers with issue and expiry dates, date of birth, gender, and addresses. A new Register of UBO (Register R-9) is established, requiring companies to submit UBO data on prescribed forms, with compliance commencing for financial years ending on or after June 30, 2025. The amendments also update various incorporation and compliance forms to include these enhanced identification fields for directors, members, and officers.