Private Equity and Venture Capital Fund Regulations 2008

The Securities and Exchange Commission of Pakistan establishes regulations for the registration and operation of Private Equity and Venture Capital Funds. Fund Management Companies must maintain a minimum paid-up capital of Rupees thirty million and ensure funds have at least Rupees two hundred and fifty million in investible capital. The rules mandate specific governance standards, including the appointment of independent trustees, arm's length transactions, and strict reporting deadlines for financial statements and Net Asset Values.

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- 1
  SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN NOTIFICATION Islamabad, 20 August, 2008 S.R.O. 867(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 makes the following Private Equity and Venture Capital Fund Regulations, 2008 for the regulation of the Fund Management Companies and the registration and regulation of the Private Equity and Venture Capital Funds and for matters connected therewith and incidental thereto. THE PRIVATE EQUITY AND VENTURE CAPITAL FUND REGULATIONS, 2008
  CHAPTER – I
  Preliminary

Short title and commencement. (1) These Regulations shall be called the Private Equity
and Venture Capital Fund Regulations, 2008.
(2) They shall come into force at once.
Definitions. (1) In these Regulations, unless the context otherwise requires:-
(i) “Capital Call” means the demand made by the FMC for all or part of the remaining amount of the subscription committed by the Holder; (ii) “Connected Person” includes:- (a) any person who directly or indirectly controls, beneficially owns or holds ten (10) percent or more paid up capital of the FMC or the Trustee; (b) any member of a group of which persons specified in sub-clause (a) forms part of; or (c) any director or Key Executives of the FMC or the Trustee as the case may be, or any of their Connected Person as specified in sub-clauses

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Lineage: Superseded

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Timeline

Amended 1 time · last 2020-08-24

2020-08-24SECPPrivate Funds Regulations 2015 (updated as of July 08 2020)supersedes

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