Direction No. 22 of 2024 - Categorization of Open-Ended Collective Investment Scheme

SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN Specialized Companies Division Fund Management Department

SECP
No. SCD/PRDD/DIRECTION/153/2024

Islamabad, December 6, 2024

Direction No. 22 /2024

Subject: Categorization of Open-Ended Collective Investment Scheme

This is further to Direction No. 17 of 2023 dated December 06, 2023 on Categorization of open-end Collective Investment Schemes (CIS).

The Securities and Exchange Commission of Pakistan (the “Commission”) in the exercise of powers conferred under Section 282B(3) of the Companies Ordinance 1984 read with Regulation 55(2) of the Non-Banking Finance Companies and Notified Entities Regulations, 2008 hereby extends the time period allowed to Money Market Schemes to invest in Government Debt Securities, to be raised and traded through Pakistan Stock Exchange, with a maturity exceeding six months and up to one year, for a further period of 12 months from the date of this notification, subject to the same conditions mentioned in earlier Direction No. 17 of 2023.

(Zeeshan Rehman Khattak)
Commissioner (SCD)

Distribution:

1. Chief Executive Officer of Asset Management Companies.

2. Mutual Fund Association of Pakistan.

3. Trustee(s) of Collective Investment Schemes.