GOVERNMENT OF PAKISTAN
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN -.-.-.-

Islamabad, the 11th November 2020

NOTIFICATION

S.R.O. 1208 (I)/2020. _ In exercise of the powers conferred under section 510 read with section 66 of the Companies Act, 2017 (XIX of 2017), the Securities and Exchange Commission of Pakistan, in suppression of previous notifications S.R.O 771(I)/2018, dated June 14, 2018 and S.R.O 1300 (I)/2018, dated October 25, 2018, is pleased to notify the following persons to whom any instrument in the nature of “redeemable capital” may be issued by a company, subject to the terms and conditions as provided under section 66 of the Act, namely:-

i. Mutual Funds, Voluntary Pension Schemes and Private fund being managed by NBFC;

ii. Insurer registered under the Insurance Ordinance, 2000 (XXXIX of 2000);

iii. A Securities Broker;

iv. A Fund and Trust as defined in the Employees Contributory Funds (Investment in Listed Securities) Regulations, 2018;

v. A Company and Body Corporate as defined in the Companies Act, 2017;

vi. Individual investors only in case of Government Debt Securities as defined below and debt securities whose debt servicing is guaranteed by the Government.

Government Debt Securities means a debt security such as Treasury Bill (T-Bill), Pakistan Investment Bond (PIB), Government of Pakistan (GoP) Ijarah Sukuk and any other debt instrument issued by the Federal Government, Provisional Government, Local Government/Authority, and any other statutory body.

___________________________________________________________________________ [File No. SMD/CIW/Misc./09/2015]