Regulatory Alerts2025-11-04
Added · Updated
Clarification on the term Paid up Capital and Issued Capital
The Securities and Exchange Commission of Pakistan clarifies that the terms 'paid-up capital' and 'issued capital' shall be interpreted as 'number of outstanding shares' within specific regulatory provisions. This interpretation applies to Clause (e) of Circular No. 12 of 2021 regarding the Equity Sub-fund, Schedule XIX clause 3(a) of the Non-Banking Finance Companies and Notified Entities Regulations, 2008, and Rule 8(10)(a)(i) of the Unit Linked Product and Fund Rules, 2015 concerning exposure limits for equity securities. The directive affects Pension Fund Managers, Asset Management Companies, Life Insurance Companies, Family Takaful Operators, and their respective Trustees.
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