Central Depositories (Licensing and Operations) Regulations, 2016

Government of Pakistan
Securities and Exchange Commission of Pakistan NOTIFICATION Islamabad, the 15th February, 2016 S. R. O. 120 (I)/20161 . - In exercise of powers conferred by sub-section (1) of section 169 read with sections 48, 49, 50, 59, 60, 61 and 151 of the Securities Act, 2015 the Securities and Exchange Commission of Pakistan hereby makes the following Regulations, the same being previously published in the official gazette vide S.R.O. 1196(I)/2015 dated 2nd December 2015 and also placed on its website as required under sub-section (4) of section 169 of the said Act, namely:-
CHAPTER I
PRELIMINARY

1. Short title and commencement. - (1) These Regulations shall be called the
   Central Depositories (Licensing and Operations) Regulations, 2016.
   (2) They shall come into force at once.
2. Definitions. - (1) In these Regulations, unless there is anything repugnant in the
   subject or context, –
   (a) "Act" means the Securities Act, 2015 (III of 2015); (b) “Depositories Act” means the Central Depositories Act, 1997 (XIX of 1997) (c) “Ordinance” means the Companies Ordinance, 1984 (XLVII of 1984); and (d) “senior management officer” for the purposes of these regulations in addition to the persons mentioned in clause (lviii) of section (2) of the Act include the following, by whatever name called:
   (i) company secretary
   (ii) chief financial officer
   (iii) head of internal audit
   (iv) head of IT, IT security or technology
   (v) chief risk and compliance officer
   (2) Words and expressions used but not defined in these Regulations shall have the