Clearing Houses (Licensing and Operations) Regulations 2016 Amendment Notification

GOVERNMENT OF PAKISTAN
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN -.-.- Islamabad, the 24th April, 2018 NOTIFICATION S. R. O. 519(I)/2018.- In exercise of powers conferred by sub-section (4) of Section 169 of the Securities Act, 2015 (III of 2015) and sub-section (1) of section 114 read with sections 23, 24, 35, 37 and 95 of the Futures Market Act, 2016, (XIV of 2016), the Securities and Exchange Commission of Pakistan hereby makes the following amendments to the Clearing Houses (Licensing and Operations) Regulations, 2016, the same have been previously published in the official Gazette vide S.R.O. 1226(I)/2017, dated 30th November 2017 and also placed on its website as required under sub-section (4) of Section 169 and sub-section (1) of
Section 114 of the said Acts, namely:-
In the aforesaid Regulations,-
(1) in the preamble, after the expression “Securities Act, 2015” the expression “and sub-section (1) of Section 114 read with Sections 23, 24, 35, 37 and 95 of the Futures Market Act, 2016, (XIV of 2016)” shall be substituted; (2) in regulation 2,- (a) in sub-regulation (1),- (i) after clause (a), the following new clause (ab) shall be inserted, namely:- “(ab) “Companies Act” means the Companies Act, 2017 (XIX of 2017);”; (ii) after clause (b), the following new clause (ba) shall be inserted, namely:- “(ba) “Futures Act” means the Futures Market Act, 2016, (XIV of 2016);”; (iii) in clause (c), for the words “of the Act” the expression “of the Act and clause (47) of Section (2) of Futures Act,” shall be substituted; and (iv) clause (e), shall be omitted; (b) in sub-regulation (2), for the expression “the Ordinance” the expression “the Futures Act, the Companies Act,” shall be substituted;