Regulatory Alerts2018-01-12
Added · Updated
Amendments to the Intermediaries (Registration) Regulations
The Securities and Exchange Commission of Pakistan substitutes the phrase "within three months of coming into force of these regulations" with "not later than March 31, 2018" in regulation 3, sub-regulation (2). Additionally, regulation 3, sub-regulation (3) is amended to replace "period of three months of coming into force of these regulations" with "expiry of time period referred in sub-regulation (2) of regulation 3". These changes establish a fixed deadline for intermediaries to comply with registration requirements.
Government of Pakistan SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN -.-.- Islamabad, 12th January, 2018 NOTIFICATION S.R.O. 28 (I)/2018.- In exercise of the powers conferred by sub-section (1) of section 512 read with section 455 of the Companies Act, 2017 (XIX of 2017), the Securities and Exchange Commission of Pakistan is pleased to notify the following amendments to the Intermediaries (Registration) Regulations, 2017, the same having been previously published vide notification S. R. O 1245 (I)/2017 dated December 07, 2017, namely:- In the aforesaid Regulations,- (a) in regulation 3, sub-regulation (2), for the expression “within three months of coming into force of these regulations”, the expression “not later than March 31, 2018”, shall be substituted; and (b) in regulation 3, sub-regulation (3), for the expression “period of three months of coming into force of these regulations”, the expression “expiry of time period referred in sub-regulation (2) of regulation 3”, shall be substituted. [No. CLD/CCD/PR(13)/2017]