Listed Companies (Buy-Back of Shares) Regulations 2016

The Securities and Exchange Commission of Pakistan establishes regulations governing the buy-back of shares by listed companies, requiring eligibility criteria such as a minimum paid-up capital of two hundred million rupees and a two-year listing history. The rules mandate specific procedures for tender offers and exchange-based purchases, including escrow account deposits, defined purchase periods of thirty or one hundred eighty days, and price caps relative to weighted average market prices. Additionally, the regulations impose restrictions on treasury share holdings, limit disposal within six months, and prohibit directors and major shareholders from trading during the purchase period to prevent insider misuse.

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GOVERNMENT OF PAKISTAN

SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN

Isalamabad, the 5th August, 2016

NOTIFICATION

S.R.O. 730 (I)/2016.— In exercise of the powers conferred by section 95A read with sub-section (1) of section 506A of the Companies Ordinance, 1984 (XLVII of 1984) and having been previously published in the official Gazette vide Notification No. S.R.O.18(I)/2016 dated January 5, 2016 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:-

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Lineage: In force

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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