RegAlert2008-12-31
Added · Updated
Group Companies Registration Regulations, 2008
The Securities and Exchange Commission of Pakistan establishes a registration framework for holding companies and their subsidiaries to form a recognized Group. Applicants must submit specific documentation, including shareholding statements and affidavits, along with a two hundred thousand rupee application fee to obtain registration. The regulations mandate immediate notification of any changes in Group composition, requiring a fifty thousand rupee alteration fee, and impose penalties up to five hundred thousand rupees for non-compliance. Additionally, registered Groups may apply for designation to avail tax relief under the Income Tax Ordinance, subject to ownership thresholds of 55% for listed companies and 75% for others.
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SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN Islamabad, the 31st December, 2008 NOTIFICATION S.R.O. 1307(I)/2008. In exercise of powers conferred by section 506A of the Companies Ordinance, 1984 (XLVII of 1984), the Securities and Exchange Commission of Pakistan hereby makes the following Regulations. GROUP COMPANIES REGISTRATION REGULATIONS, 2008
- Short title and commencement.- (1) These Regulations shall be called the Group
Companies Registration Regulations, 2008.
(2) They shall come into force at once. - Definitions.- (1) In these Regulations, unless there is anything repugnant in the subject
or context,-
(i) “Group” means a holding company and its subsidiaries registered with the Commission under Regulation 4 of these Regulations; (ii) “Ordinance” means the Companies Ordinance, 1984 (XLVII of 1984); and (iii) “Regulations” mean the Group Companies Registration Regulations, 2008. (2) Words and expressions used but not defined in these Regulations shall have the same meaning as assigned to them in the Ordinance.
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Source: Securities and Exchange Commission of Pakistan — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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SECP published 3 documents in the last 30 days. We email you each new one the day it's published.