RegAlertRule · SECP · 6 Nov 2018
SRO 1347 (I)/2018 Delegation of Power Notification
The Securities and Exchange Commission of Pakistan delegates powers under section 40A of the Securities and Exchange Commission of Pakistan Act, 1997 to the Commissioner of the Specialized Companies Division and the Registrar of Modaraba to impose penalties for violations of the Anti Money Laundering and Countering Financing of Terrorism Regulations, 2018. Specifically, the Commissioner handles penalties for Non-Banking Finance Companies and Notified Entities, while the Registrar handles penalties for Modaraba Companies and Modarabas. Any pending proceedings under earlier modified notifications are transferred to these delegated authorities to proceed as they stood prior to this notification's effect.
GOVERNMENT OF PAKISTAN
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN -.-.- Islamabad, the 5 th November, 2018 NOTIFICATION S.R.O. 1347 (I)/2018.- In exercise of powers conferred by section 10 of the Securities and Exchange Commission of Pakistan Act, 1997 (XLII of 1997) read with section 40 and in partial modification of earlier notifications No. S.R.O 1063(I)/2017, dated October 18, 2017 and S.R.O.247(I)/2017 dated April 7, 2017, the Securities and Exchange Commission of Pakistan (the Commission), subject to such conditions and limitations as it may from time to time impose, hereby delegates the following powers and functions of the Commission to Commissioner, Specialized Companies Division and the Registrar Modaraba, namely:- Commissioner (Specialized Companies Division) S.No. Securities and Exchange Commission of Pakistan Act, 1997 (XLII of 1997) Nature of power/function
1. 40A To Impose penalty regarding Non-Banking Finance
Companies and Notified Entities for violation of Securities and Exchange Commission of Pakistan (Anti Money Laundering and Countering Financing of Terrorism) Regulations, 2018 Registrar Modaraba S.No. Securities and Exchange Commission of Pakistan Act, 1997(XLII of 1997) Nature of power/function
1. 40A To Impose penalty regarding Modaraba Companies and
Modarabas for violation of Securities and Exchange Commission of Pakistan (Anti Money Laundering and Countering Financing of Terrorism) Regulations, 2018
Any pending proceedings under the said modified notifications of delegation of power shall stand transferred to the delegated authority provided in this notification forthwith, who shall proceed with the matter as it stands prior to the coming into the effect of this Notification. File No. SY/SECP/8/13
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The links and the sentences they come from (2)
- Amends
“partial modification of earlier notifications No. S.R.O 1063(I)/2017, dated October 18, 2017”
- Issued under
“In exercise of powers conferred by section 10 of the Securities and Exchange Commission of Pakistan Act, 1997 (XLII of 1997)”
Mentions (1): 1 document mentions this one without changing it
- Referred to by
“in continuation of its earlier notification S.R.O. 1347(I)/2018 dated November 5, 2018”
Timeline
This document amends: SRO 1063 (I)/2017 Delegation of Power to the Officers of SCD
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