RegAlert2024-03-20
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Non-Banking Finance Companies and Notified Entities Regulations, 2008
The Securities and Exchange Commission of Pakistan enforces regulations governing Non-Banking Finance Companies and Notified Entities, covering leasing, investment finance, housing finance, asset management, and pension fund management. The document establishes comprehensive definitions for key terms including Collective Investment Schemes, Closed End Funds, Digital Lending, and Peer-to-Peer Lending. It specifies eligibility criteria for entities such as deposit-taking NBFCs, discount houses, and micro-financing providers, while defining liquid assets and exposure limits. These regulations apply to all licensed NBFCs and notified entities managing the specified financial services and business activities.
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NON-BANKING FINANCE COMPANIES
AND NOTIFIED ENTITIES REGULATIONS, 2008
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN * Islamabad the 21 st November, 2008 NOTIFICATION S.R.O. 1203(I)/2008.- In exercise of the powers conferred by sub-section (2) of section 282B of the Companies Ordinance, 1984 (XLVII of 1984), the Securities and Exchange Commission of Pakistan hereby notifies the following Non-Banking Finance Companies and Notified Entities Regulations, 2008 for the regulation of NBFCs carrying out leasing, investment finance services, housing finance services, 1 [discounting services, micro financing] asset management services and investment advisory services and their business activities and notified entities being managed by the aforementioned NBFCs 2 [and Pension Fund Managers and pension fund scheme business managed by them]. [PART I Title and definitions]
- Short title and commencement.- (1) These Regulations shall be called the
Non-Banking Finance Companies and Notified Entities 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) “Asset Management Company” means an NBFC licensed by the Commission to provide asset management services; [omitted] [(iii) “Borrower” means a person who has obtained Finance from an NBFC]; [omitted] [(v) Collective Investment Scheme” means any arrangement whose sole purpose is
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Lineage: In force
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