Government of Pakistan
Securities and Exchange Commission of Pakistan -.-.-.-

Islamabad, the 6 th November, 2020

NOTIFICATION

S.R.O. 1203 (I)/2020.- The following draft amendments to the Clearing Houses (Licensing and Operations) Regulations, 2016 proposed to be made by the Securities and Exchange Commission of Pakistan, in exercise of the powers conferred by section 169 of the Securities Act, 2015, are hereby published for information for all persons likely to be affected thereby and notice is hereby given, as required under sub-section (4) of the said section 169, that objections/comments, if any, received within fourteen days of the date of publication of this notification on the official website, will be taken into consideration, namely; -

DRAFT AMENDMENTS

In the aforesaid Regulations, -

(1) In regulation 9, sub-regulation (1), clause (g) of proviso to Explanation, the word “three” shall be substituted in place of the word “two”.

(2) In regulation 9, sub-regulation (3), clause (c), the following proviso shall be deleted, namely, -

“Provided further that where the Commission is not satisfied about the suitability of person(s) proposed again by the clearing house, the Commission shall appoint any such person as deemed appropriate as independent director of the clearing house;”

[File No. SMD/SE/2(20)/2020]