Draft Amendments to the Companies (Registration Offices) Regulations, 2018

GOVERNMENT OF PAKISTAN
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN -.-.-.-

Islamabad, January 19, 2023

NOTIFICATION

S.R.O. 66(I)/2023.- The following draft amendments to the Companies (Registration Offices) Regulations, 2018 proposed to be made by the Securities and Exchange Commission of Pakistan, in exercise of the powers conferred by Section 512 read with sub-section (2) of Section 462 of the Companies Act, 2017 (XIX of 2017), are hereby published for information of all persons likely to be affected thereby and notice is hereby given that feedback or comments, if any, received within fourteen days of the date of publication of this notification will be taken into consideration by the Securities and Exchange Commission of Pakistan, namely:-

DRAFT AMENDMENTS

In the aforesaid Regulations, for the Table contained in Annexure D as specified under sub-regulation (2) of regulation 12, the following Table shall be substituted, namely:

“Time Frame for the disposal of various matters

S. No.	Description of matters	Time frame for disposal of documents submitted electronically	Time frame for disposal of documents submitted in physical form
(1)	(2)	(3)	(4)
1.	Application for reservation of name (Section 10).	4 working hours	4 working hours
2.	Incorporation of Companies (Subject to adoption of standardized Memorandum and Articles of Association)	4 working hours	4 working hours
3	Issuance of certificate for change of name (Sections 13)	1 day	3 days
4.	Alteration in the memorandum of association (Section 32)	3 days	6 days
5.	Issuance of conversion certificate on receipt of altered memorandum and articles of association of the company having changed its status from public to private [section 46 (3&4) and 50]	1 day	3 days
6.	Conversion of the status of a private company to a public company [Section 46(5) and 50]	2 days	6 days
7.	Issuance of conversion certificate on receipt of altered memorandum and articles of association of the company having changed its status from private to single-member company [section 47 (3&4) and 50]	1 day	3 days
8.	Issuance of certificate upon conversion of the status of a single member company to private company [Section 47(5) and 50]	2 days	6 days
9.	Issuance of certificate for conversion of status of an unlimited company into a limited company upon fulfilling of all requirements (section 48 and 50)	1 day	3 days
10.	Issuance of certificate upon conversion of the status of limited company into unlimited company [section 48(4) and 50]	2 days	6 days
11.	Issuance of conversion certificate on receipt of altered memorandum and articles of association of the company having changed its status from company limited by Guarantee to company limited by shares [section 49 (3&4) and 50]	1 day	3 days
12.	Issuance of certificate upon conversion of the status of a company limited by shares to a company limited by Guarantee [Section 49(5) and 50]	2 days	6 days
13.	Issuance of filing certificate after the receipt of certified copy of Court order regarding reduction in share capital (Section 93)	2 days	6 days
14.	Registration of mortgage or charge (Section 100)	1 day	3 days
15.	Registration of mortgage or charge on receipt the certified copy of the order and other documents regarding rectification of charge (section 108)	1 day	3 days
16.	Satisfaction of mortgage or charge upon receipt of complete documents and NOC of charge holder (Section 109)	1 day	3 days
17.	Grant of extension in period for holding AGM and laying therein financial statements - a public unlisted company or a private company (Sections 132 and 223)	1 day	3 days
18.	Application for directions to call general meeting in respect of companies other than listed companies. (Where powers delegated) (Section 147)	1 day	3 days
19.	Issuance of filing certificate on the receipt of certified copy of Commission/Court order under sections 279 and 286	1 day	3 days
20.	Making minute of an order filed under sections 309, 313 and 342(2) in the books relating to a company.	1 day	3 days
21.	Registration of documents filed under sections 359 and 369	3 days	9 days
22.	Application for obtaining the status of an inactive company (Section 424)	3 days	9 days
23.	Application for obtaining the status of active company (Section 424)	3 days	9 days
24.	Application for issuance of certificate of registration of documents filed by a foreign company under section 435	4 hours	4 hours
25.	Application for issuance of digital certified copy of documents filed, registered or recorded [(Section 462(5)	1 day	-
26.	Application for issuance of certified copy of documents filed, registered or recorded [Section 462(5)] applied/issued in physical form	-	3 days
27.	Application for inspection of documents kept by the Registrar [Section 462(5)]	1 hour	2 days
28.	Issuance of Acknowledgement of filing of any return or document,	2 days	6 days

”
[File No. CLD/RD/602(6)2008]

( Bilal Rasul )
Secretary to the Commission