RegAlertConsultation · SECP · 6 Nov 2020
SRO 1201 (I)/2020 – Draft amendments to Securities Exchanges (Licensing and Operations) Regulations, 2016
The Securities and Exchange Commission of Pakistan has published draft amendments to the Securities Exchanges (Licensing and Operations) Regulations, 2016 for comments within 14 days of publication. The draft deletes clause (aa) of regulation 5; in regulation 9(1), Explanation proviso clause (g), substitutes "three" for "two"; and deletes the proviso to regulation 9(3)(c) that allowed the Commission to appoint an independent director if the proposed person was unsuitable.
Government of Pakistan
Securities and Exchange Commission of Pakistan -.-.-.-
Islamabad, the 6 th November, 2020
NOTIFICATION
S.R.O. 1201 (I)/2020.- The following draft amendments to the Securities Exchanges (Licensing and Operations) Regulations, 2016 proposed to be made by the Securities and Exchange Commission of Pakistan, in exercise of the powers conferred by section 169 of the Securities Act, 2015, are hereby published for information for all persons likely to be affected thereby and notice is hereby given, as required under sub-section (4) of the said section 169, that objections/comments, if any, received within fourteen days of the date of publication of this notification on the official website, will be taken into consideration, namely; -
DRAFT AMENDMENTS
In the aforesaid Regulations, -
(1) In regulation 5, clause (aa) shall be deleted.
(2) In regulation 9, sub-regulation (1), clause (g) of proviso to Explanation, the word “three” shall be substituted in place of the word “two”.
(3) In regulation 9, sub-regulation (3), clause (c), the following proviso shall be deleted, namely, -
“Provided that where the Commission is not satisfied about the suitability of person(s) proposed again by the securities exchange, the Commission shall appoint any such person as deemed appropriate as independent director of the securities exchange;”
[File No. SMD/SE/2(20)/2020]
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- Definition / condition 5
- background, boilerplate
Lineage: Amended
A newer document in RegAlert amends this one; it applies as amended.
The links and the sentences they come from (3)
- Amended by
- S.R.O.1269(I)/2020 – Amendments to Securities Exchanges (Licensing & Operations) Regulations, 20162020 · SECP
“previously published in the official Gazette vide S.R.O. No. 1201(I)/2020 dated November 06, 2020”
- Amends
- Securities Exchanges (Licensing and Operations) Regulations, 2016Not in RegAlert
“The following draft amendments to the Securities Exchanges (Licensing and Operations) Regulations, 2016 proposed to be made by the Securities and Exchange Commission of Pakistan”
- Issued under
- The Securities Act, 2015 (Act No. III of 2015)2015 · PK-LAW
“in exercise of the powers conferred by section 169 of the Securities Act, 2015”
Timeline
Amended 1 time · last 2020-11-26
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