Issue of Sukuk Regulations 2015

[Amended vide S.R.O.526(I)/2016 dated 6 th June 2016]
PART-II
Statutory Notifications (S.R.O.)
Government of Pakistan
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN NOTIFICATION Islamabad, the 6 th February, 2015 S.R.O. 112 (I)/2015. __ In exercise of the powers conferred by section 506A of the Companies Ordinance, 1984 (XLVII of 1984) read with section 120 thereof and having been previously published in the official Gazette vide Notification No. S.R.O.1223(I)/2012 dated September 28, 2012 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, namely:-
CHAPTER I
PRELIMINARY

1. Short title and Commencement.
   __ (1) These Regulations may be called the “Issue of Sukuk Regulations, 2015”. (2) They shall come into force at once. (3) They shall apply to all Issues of Sukuk by any company, Special Purpose Vehicle or body corporate to the general public or a section of public or to the existing security holders of the issuing company or to the Qualified Institutional Buyers. (4) These Regulations shall not apply to an Issue by any company, a Special Purpose Vehicle or body corporate specifically setup by the Federal Government or any provincial Government for the purposes of issue of Sukuk, under any other law.
2. Definitions.
   __ (1) In these Regulations unless there is anything repugnant in the subject or context - (a) “Appendix” means appendix to these Regulations; (b) “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);