Regulatory Alerts2021-06-02
Amendment to SRO 952(I)/2020 Relating to Oversight Body for Self-Regulatory Bodies
This amendment officially designates the Pakistan Bar Council, Provincial Bar Councils, and Islamabad Bar Council as the oversight bodies for advocates, law firms, and independent legal professionals. This regulatory change acts under the authority of the Anti-Money Laundering Act, 2010 to strengthen compliance oversight for legal practitioners. The notification modifies the original SRO 952(I)/2020 by substituting the specific entities responsible for the legal sector.
S. R. O. 656(I)/2021.— In exercise of the powers conferred by section 6C read with clause (xxiv) of section 2, of the Anti-Money Laundering Act, 2010 (VII of 2010), the Federal Government is pleased to direct that the following amendment shall be made in its Notification No. S.R.O 952(I)/2020, dated the 1st October, 2020, namely:— In the aforesaid Notification, in the Table, against Sr.No.2, for the entry in column (2), the following shall be substituted, namely:— “Pakistan Bar Council, Provincial Bar Councils, Islamabad Bar Council, for advocates, law firms and other independent legal professionals.”