SRO 1194 (I)/2019 Amendments in the Companies (Further Issue of Shares) Regulations, 2018

GOVERNMENT OF PAKISTAN
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN -.-.-.- Islamabad, the 4 th October, 2019 NOTIFICATION

S. R. O. 1194 (I)/2019.- In exercise of the powers conferred under section 512 read with sections 58 and 83 of the Companies Act, 2017 (XIX of 2017), the Securities and Exchange Commission of Pakistan is pleased to make the following amendments in the Companies (Further Issue of Shares) Regulations, 2018, the same having been previously published in the official Gazette vide Notification S.R.O. 964(I)/2019, dated August 28, 2019, namely:- In the aforesaid Regulations, - (1) In regulation 3, sub-regulation (1), for clause (vii), the following shall be substituted, namely: - “(vii) in case of a listed company, the decision of board for right announcement shall be communicated to the Commission and the securities exchange on the same day of the decision;”; (2) In regulation 4, sub-regulation (1), for clause (ii), the following shall be substituted, namely: - “(ii) in case of a listed company, the resolution of board to issue bonus shares shall be communicated to the Commission and the securities exchange on the same day of the decision;”; (3) In regulation 9, for clause (vii), the following shall be substituted, namely:- “(vii) the listed company having consistent track record of distributable profits for the last three years;”. No. Sy/SECP/8/13