Insurance Accounting Regulations, 2017

# GOVERNMENT OF PAKISTAN
## SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN

**Islamabad, the 9th February, 2017**

## NOTIFICATION

**S.R.O. 88 (I)/ 2017.** In exercise of the powers conferred by sub-section (3) of section 167 of the Insurance Ordinance 2000 (XXXIX of 2000), read with sub-section (1) of section 46 thereof, and section 40 of the Securities and Exchange Commission of Pakistan Act, 1997 (XLII of 1997), the Securities and Exchange Commission of Pakistan, with the approval of the Securities and Exchange Policy Board, is pleased to make the following regulations, the same having been previously published in the official Gazette through S.R.O. 1383(I)/2012 dated November 19, 2012.

### 1. Short Title and Commencement.
(1) These regulations shall be called the Insurance Accounting Regulations, 2017.

(2) These regulations shall come into force at once:

> Provided that annual accounts for the period ended on 31st December, 2016 and quarterly accounts for the period ending 31st March 2017 shall be prepared in accordance with the previous requirements.

### 2. Definitions.
In these Regulations, unless there is anything repugnant in the subject or context.

(i) “Ordinance” means the Insurance Ordinance 2000 (XXXIX of 2000);

(ii) “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);

(iii) “Regulatory Returns” means the statements which are required to be delivered to the Commission by Insurers under section 46 of the Ordinance as prescribed in Annexure II of the Insurance Rules, 2017;