Issue of Commercial Papers Regulations, 2013

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SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN * NOTIFICATION Islamabad, the 4 th December, 2013 S.R.O.1036(I)/2013. __ In exercise of the powers conferred by sub-section (1) of section 506A of the Companies Ordinance, 1984 (XLVII of 1984), read with clause (a) of sub-section (4) of section 20 of the Securities and Exchange Commission of Pakistan Act, 1997 (XLII of 1997), and having been previously published in the official Gazette vide Notification No. S.R.O.71(I)/2013 dated February 4, 2013 as required by sub-section (1) of Section 506A of the said Ordinance, the Securities and Exchange Commission of Pakistan hereby makes the following Regulations:-
CHAPTER I
PRELIMINARY

1. Short title and commencement.__ (1) These Regulations shall be called the Issue of
   Commercial Papers Regulations, 2013.
   (2) They shall come into force at once.
   [(3) They shall apply to issuance of privately placed commercial papers by a company or body corporate to the persons mentioned in section 120 of the Ordinance.]1
2. Definitions.__ (1) In these Regulations unless there is anything repugnant in the subject or context,-
   [Omitted]2
   (b) “Commercial Paper” means an unsecured instrument with a maturity period as provided in these Regulations; (c) “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); (d) “Company” shall have the same meaning as assigned to it in the Companies Ordinance, 1984 (XLVII of 1984);