GOVERNMENT OF PAKISTAN
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN -.-.-.-

NOTIFICATION

Islamabad, the 19th February 2021

S. R. O. 231 (I)/2021.- The following draft amendments to the Credit Rating Companies Regulations, 2016, proposed to be made by the Securities and Exchange Commission of Pakistan, in exercise of powers conferred by section 169 of the Securities Act, 2015 (III of 2015), are hereby published for the information of all persons likely to be affected thereby and, as required by sub-section (4) of the said section 169, notice is hereby given that objections or suggestions, if any, received within fourteen days from the date of placement of this notification on the website of the Commission may be taken into consideration, namely:-

DRAFT AMENDMENTS

In the aforesaid regulations, in Annexure C, in the heading “ASSESSMENT OF FITNESS AND PROPRIETY”,-

(a) in clause (a) “Integrity and Track Record”, sub-clause (viii), shall be omitted;

(b) in clause (c) “Competence and Capability”,-

(i) in sub-clause (i), for the word “having” the words “and at least one director should have” shall be substituted; and

(ii) in sub-clause (ii), for the words “the directors and” in the beginning, the words “At least one of the director and all” shall be substituted.

________________________________________________________________________ [File No. SMD/SE/2(267)2016]