Collateral Management Companies Regulations, 2019

GOVERNMENT OF PAKISTAN
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN -.-.- Islamabad, the 31st July, 2019 NOTIFICATION S.R.O. 890(I)/2019.- In exercise of the powers conferred by section 512 read with section 457 of the Companies Act, 2017 (XIX of 2017) and the Futures Market Act, 2016 (XIV of 2016), the Securities and Exchange Commission of Pakistan is pleased to make the following regulations, the same having been previously published vide SRO 717 (1)/2019 dated July 02, 2019, namely:-
CHAPTER I
PRELIMINARY

1. Short title and commencement.- (1) These regulations may be called the
   Collateral Management Companies Regulations, 2019.
   (2) They shall come into force at once.
2. Definitions.- (1) In these Regulations, unless the context otherwise requires,-
   (a) “Act” means the Companies Act, 2017 (XIX of 2017); (b) “Annexure” means annexures appended to these regulations; (c) “Certificate of Accreditation” means the certificate of accreditation issued to a Warehouse by a CMC under these regulations; (d) “Collateral Management Company” or “ CMC” means an Agriculture Promotion Company registered with the Commission under these regulations having principal line of business as managing Produce as collateral or engaged in any other activity connected with or related to any Produce or any other activity as may be notified by the Commission; (e) “Commission” means the Securities and Exchange Commission of Pakistan established under the Securities and Exchange Commission of Pakistan Act, 1997 (XLII of 1997); (f) “Commodity” shall have the same meaning as is assigned to it under the Futures Market Act, 2016; (g) “Depositor of Produce” means a person who delivers Produce to the Warehouse Operator for storage or transfer of ownership; (h) “Electronic warehouse receipt” or “EWR” means a warehouse receipt as proof of storage of the Produce of the Depositor held at the accredited Warehouse issued