Foreign Companies Regulations, 2018

Government of Pakistan
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN -.-.-.- Islamabad, the 5 th October, 2018 NOTIFICATION S.R.O. 1224 (I)/2018.- In exercise of the powers conferred under sub-section (1) of
section 512 of the Companies Act, 2017 (XIX of 2017), the Securities and Exchange
Commission of Pakistan is pleased to make the following regulations, the same having been previously published vide S.R.O. 1209 (I)/2017 dated 22nd November, 2017 as required by proviso to sub-section (1) of section 512, namely:- PRELIMINARY

1. Short title, commencement and applicability.— (1) These Regulations shall be
   called the Foreign Companies Regulations, 2018.
   (2) They shall come into force at once.
   (3) These regulations shall apply to foreign companies except not for profit organizations (NPOs) .
2. Definitions.— (1) In these regulations, unless there is anything repugnant in
   the subject or context,—
   (i) “Act” means the Companies Act, 2017 (XIX of 2017); (ii) “annexure” means an annexure appended to these regulations; (iii) “authorized intermediary” shall have the same meaning as assigned to it in the Intermediaries (Registration) Regulations, 2017; (iv) “Commission” means the Securities and Exchange Commission of Pakistan established under section 3 of the Securities and Exchange Commission of Pakistan Act, 1997 (XLII of 1997); (v) “e-service” means e-service as defined in the Act; (vi) “fee” means fee as specified in seventh schedule of the Act; (vii) “Form” means form appended to these regulations; and (viii) “foreign company” shall have the same meaning as assigned to it under the Act. (2) Words and expressions used but not defined in these regulations shall have the same meaning as assigned to it in the Act, Securities and Exchange Commission of Pakistan Act, 1997(XLII of 1997), Securities Act, 2015 (III of 2015) and rules made thereunder. RESERVATION OF NAME
3. Reservation of Name.— (1) Subject to the requirements of section 435, a
   foreign company desirous of establishing a place of business in Pakistan shall apply to Registrar for reservation of name in terms of sub-section (4) of section 10 read with section 442 of the Act as per Fnc. Form-I of these regulations along with non-refundable application fee and copy of certificate of incorporation or registration or any other document issued by a