Regulatory Alerts2017-12-07
Added · Updated
Companies (Investment in Associated Companies or Associated Undertakings) Regulations, 2017
The Securities and Exchange Commission of Pakistan mandates specific disclosure requirements for companies seeking member approval for investments in associated companies or undertakings under the Companies Act, 2017. These regulations require detailed financial data, project histories, and conflict-of-interest statements in meeting notices, while imposing conditions such as a minimum return rate tied to KIBOR and a twelve-month validity period for investment resolutions. Contraventions of these rules are punishable by a fine of up to five million rupees, and the previous 2012 regulations are hereby repealed.
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