Collateral Management Companies Regulations 2019

The Securities and Exchange Commission of Pakistan establishes regulations for the formation, registration, and operation of Collateral Management Companies (CMCs), requiring a minimum paid-up capital of two hundred million rupees. CMCs are authorized to manage produce as collateral, issue electronic warehouse receipts, and accredit warehouses, while being mandated to maintain records for at least ten years and comply with corporate governance standards. The framework defines the duties of CMCs, including inspection powers and liability for outsourced functions, and sets forth the accreditation criteria for warehouses and operators.

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GOVERNMENT OF PAKISTAN
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN -.-.- Islamabad, the 31st July, 2019 NOTIFICATION S.R.O. 890(I)/20191 .- 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

Short title and commencement. - (1) These regulations may be called the Collateral
Management Companies Regulations, 2019.
(2) They shall come into force at once.
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) 2 ["Collateral management Company" or "CMC" means a kind of Agriculture Promotion Company as defined in Section 457(5) of the Act and registered with the Commission under these Regulations;] (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) 3 [“Depositor of Produce” means a person who delivers Produce to the Warehouse Operator for storage or transfer of ownership and such term shall, as the context may

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This document amends: Amendments to the Collateral Management Companies Regulations, 2019

Source: Securities and Exchange Commission of Pakistan — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works