SRO 1353 (I)/2018 draft amendments to the Public Offering (Regulated Securities Activities Licensing) Regulations, 2017

Government of Pakistan
Securities and Exchange Commission of Pakistan -.-.- Islamabad, 6 th November, 2018 NOTIFICATION S. R. O. 1353 (I)/2018.- The following draft amendments to the Public Offering (Regulated Securities Activities Licensing) Regulations, 2017, proposed to be made by the Securities and Exchange Commission of Pakistan, in exercise of the powers conferred by sub￾section (1) of section 169 read with sections 63, 64, 65, 68, 69 and 80 of the Securities Act, 2015 (III of 2015), are hereby published for information of all the person likely to be affected thereby and notice is hereby given that objections or suggestions, if any, received within fourteen days from the date of publication of this notification and its placement on the website of the Commission, shall be taken into consideration by the Securities and Exchange Commission of Pakistan, namely:- DRAFT AMENDMENTS In the aforesaid Regulations,- (1) In regulation 2,- (a) sub-regulation (1),- (i) after clause (iv), the following new clause shall be added, namely:- “(iva) “Companies Act” means the Companies Act, 2017 (XIX of 2017);”; (ii) after clause (vii), the following new clause shall be added, namely:- “(viia) “issuer” means the same as defined in the Securities Act, 2015;”; (iii) clause (viii) shall be omitted; (iv) in clause (xi), the word “and” appearing at the end shall be omitted; (v) in clause (x), for the full stop at the end, the expression “; and” shall be substituted; and

(vi) after clause (x), amended as aforesaid, the following new clause shall be inserted, namely:- “(xi) “Underwriter” means the same as defined in the Securities Act, 2015.” (b) in sub-regulation (2), for the word “Ordinance” the words “Companies Act” shall be substituted; (2) in regulation 6, in sub-regulation (1), in clause (f), for the word “Ordinance” the words “Companies Act” shall be substituted; (3) in Schedule I, in paragraph (2), in sub-paragraph (3), in clause (i), after the word “scheduled bank” the expression “, a development financial institution” shall be inserted; and (4) in Schedule III, in paragraph (2), in sub-paragraph (a), in clause (v), for the word “Ordinance” the words “Companies Act” shall be substituted. [No.SY/SECP/8/13]