RegAlert

Consultation · SECP · 25 Feb 2020

SRO 116 (I)/2020 draft amendments in the Non-Banking Finance Companies and Notified Entities Regulations, 2008

licensing
securities

The Securities and Exchange Commission of Pakistan proposes draft amendments to Schedule II of the Non-Banking Finance Companies and Notified Entities Regulations, 2008, specifically substituting clauses A and B to update application fee structures. Clause A establishes new fees for NBFC applications, setting Form I at Rs. 250,000 and Form II at Rs. 500,000, while reducing these amounts by half for Non-Bank Micro Finance Companies. Clause B sets the application fee for registration of Open End or Closed End Schemes under Regulation 44 at Rs. 500,000 and for trustee registration certificates under Regulation 40A(1) at Rs. 500,000. This notification is published for public consultation, with comments accepted within fourteen days of the February 18, 2020 date.

PakistanSecurities and Exchange Commission of Pakistan

GOVERNMENT OF PAKISTAN
Securities and Exchange Commission of Pakistan -.-.-.- Islamabad, the 18 th February, 2020 NOTIFICATION S.R.O. 116 (I)/2020.- The following draft amendments in the Non-Banking Finance Companies and Notified Entities Regulations, 2008 which are proposed to be made by the Securities and Exchange Commission of Pakistan, in exercise of the powers conferred by sub￾section (2) of section 282B of the Companies Ordinance, 1984 (XLVII of 1984), read with the Securities and Exchange Policy Board’s directive notification S.R.O. 1620 (I)/2019, dated December 24, 2019, are hereby published for the information of all the persons likely to be affected thereby and notice is hereby given that comments, if any, received within fourteen days of the date of this notification will be taken into consideration,- DRAFT AMENDMENTS In the aforesaid Regulations, in Schedule II,-

  1. In clause A, the following shall be substituted namely,-
    “A) Application Fees under the Rules:
    Form Subject of application Amount
    (in Rs.)
    Form I Application for permission to form an NBFC 250,000 Form II Application for license to undertake or carry out an activity or function

500,000
Form IV Application for renewal of license to carry out an activity or function Nil Provided that Non-Bank Micro Finance Companies shall pay the following fee amounts:
Form Subject of application Amount
(in Rs.)
Form I Application for permission to form an NBFC 125,000 Form II Application for license to undertake or carry out an activity or function 250,000 Form IV Application for renewal of license to carry out an activity or function Nil

  1. In clause B, for the table following shall be substituted namely,-
    “B) Application Fees under the Regulations:
    S.
    No.
    Regulation Subject of application Amount (in Rs.)
    1 Regulation 44 Application for registration of an Open End Scheme or Closed End Scheme 500,000 2 Regulation 40A(1) Application for certificate of registration to act as a trustee 500,000 No. SCD/NBFC/NBFCR/2019-

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Annotations and obligations
17 definitions · 7 reporting items
  • Definition / condition 17
  • Reporting template 7
  • background, boilerplate

Lineage: Amended

A newer document in RegAlert amends this one; it applies as amended.

The Companies Ordinance, 1984(Ordinance No. XLVII of 1984)1984 · PK-LAWThe Companies Ordinance, 1984 (Ordinance No. XLVII of 1984) (1984-10-08)Directive No. 1620 dated2019-12-24Not in RegAlertDirective No. 1620 dated 2019-12-24 — Not in RegAlertNon-Banking Finance Companies andNotified Entities Regulations, 20…Not in RegAlertNon-Banking Finance Companies and Notified Entities Regulations, 2008 — Not in RegAlertSRO 116 (I)/2020 draftamendments in the Non-Banking…2020-02-25 · this documentSRO 116 (I)/2020 draft amendments in the Non-Banking Finance Companies and Notified Entities Regulations, 2008 (2020-02-25)SRO 270(I)/2020 – Amendments inSchedule II of NBFCs and Notified…2020 · SECPSRO 270(I)/2020 – Amendments in Schedule II of NBFCs and Notified Entities Regulations, 2008 (2020-03-31)
amendssupersedesissued underrefers todashed card: not in RegAlert (or proposed)arrows run from the older text to the one that changes it
The links and the sentences they come from (4)
Amended by
Amends
  • Non-Banking Finance Companies and Notified Entities Regulations, 2008Not in RegAlert

    “The following draft amendments in the Non-Banking Finance Companies and Notified Entities Regulations, 2008 which are proposed to be made”

Issued under
  • The Companies Ordinance, 1984 (Ordinance No. XLVII of 1984)1984 · PK-LAW

    “in exercise of the powers conferred by sub￾section (2) of section 282B of the Companies Ordinance, 1984 (XLVII of 1984)”

  • Directive No. 1620 dated 2019-12-24Not in RegAlert

    “read with the Securities and Exchange Policy Board’s directive notification S.R.O. 1620 (I)/2019, dated December 24, 2019”

Timeline

Amended 1 time · last 2020-03-31

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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

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