Public Offering (Regulated Securities Activities Licensing) Regulations, 2017

PART II
Statutory Notifications (S. R. O)
GOVERNMENT OF PAKISTAN SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN NOTIFICATION Islamabad, the 2nd May, 2017 S.R.O. 295(I)/2017.__. In exercise of powers conferred by sub-section (4) of section 169 read with sections 63, 64, 65, 68, 69 and 80 of the Securities Act, 2015, (Act No III of 2015), the Securities and Exchange Commission of Pakistan is pleased to make the following regulations, the same have been previously published in the official Gazette vide Notifications No.S.R.O.03(I)/2016 dated 1st January, 2016, S.R.O.35(I)/2016 dated 20th January, 2016 and S.R.O.356(I)/2016 dated 21st April, 2016, namely; -

1. Short title, commencement and application. __ (1) These Regulations shall be
   called the Public Offering (Regulated Securities Activities Licensing) Regulations, 2017. (2) They shall come into force at once. (3) They shall apply to all persons carrying out activities as consultants to the issue, bankers to an issue and underwriters.
2. Definitions. __ (1) In these regulations, unless there is anything repugnant in the
   subject or context, -
   (i) “application supported by blocked amount (ASBA)” means a bid or subscription application whose bid or subscription money is blocked in the bidder’s or applicant’s respective account maintained with the Banker to an issue or with any other scheduled bank; (ii) “Act” means the Securities Act, 2015 (III of 2015); (iii) “annexure” means any annexure to these Regulations; (iv) “banker to an issue” means a scheduled bank licensed by the Commission and capable to perform all or any of the following functions:
   (a) accept applications for bidding and subscription of securities (b) accept the bid money and subscription money of the bids and subscription applications mentioned in clause (i) above electronically, through cheque or through any other mode as disclosed in the relevant prospectus; (c) block the bid money and subscription money in the respective account of the bidder and the subscriber; (d) unblocking or refund of bid or subscription money; and