S. R. O. 994 (I)/2018 – Amendments in Central Depository (Licensing & Operations) Regulations 2016

GOVERNMENT OF PAKISTAN
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN -.-.-.-.- Islamabad, the 10 th August, 2018 NOTIFICATION S. R. O. 994 (I)/2018.- In exercise of the powers conferred by section 169(1) read with sections 48, 49, 50, 59, 60, 61 and 151 of the Securities Act, 2015 (III of 2015), the Securities and Exchange Commission of Pakistan hereby makes the following amendments in the Central Depository (Licensing & Operations) Regulations 2016, the same having been previously published in the official Gazette vide S. R. O. 489(I)/2018 dated July 2, 2018 and S. R. O. 882(I)/2018 dated July 10, 2018 and placed on the website of the Commission as required under sub-section (4) of the said
section 169, namely:-
In the aforesaid Regulations,
(i) in regulation 5, in clause (l),-
(a) in the first proviso, after the expression “central depository” appearing for the second time, the expressions “ directly or by forming subsidiary(ies),” shall be inserted; and (b) second and third provisos shall be omitted. (ii) in regulation 6, the words “less surplus on revaluation, if any, created upon revaluation of fixed assets” shall be omitted. (File No. SY/SECP/8/13)