SRO 236(I)/2019 - Notification to Delegation of power for Adjudication

GOVERNMENT OF PAKISTAN
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN -.-.-.- Islamabad, the 19 th February, 2019 NOTIFICATION S.R.O. 236 (I)/2019.- In exercise of the powers conferred by section 10 of the Securities and Exchange Commission of Pakistan Act, 1997 (XLII of 1997) read with section 20(4)(o) thereof, and in continuation of its earlier notification S.R.O. 1347(I)/2018 dated November 5, 2018, 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 powers and functions of the Commission listed below to its Commissioner (Securities Market Division, Supervision and Enforcement Department of Specialized Companies Division and International Relations Department):
To exercise all the powers and functions of the Commission as are conferred upon it or required to be exercised by it under Part VIIIA of the Companies Ordinance, 1984 (XLVII of 1984), as saved in terms of section 509 of Companies Act, 2017, in respect of Adjudication Recommendation Note No. SCD/S&ED-OS&MW-I/KHI/2018/288, dated January 30, 2019 pertaining to Non-Banking Finance Company specified therein. The Commission shall have the authority to exercise all the above powers delegated to the Commissioner (Securities Market Division, Supervision and Enforcement Department of Specialized Companies Division and International Relations Department), concurrently under sub-section (2) of section 10 of the Securities and Exchange Commission of Pakistan Act, 1997 (XLII of 1997). This notification has been specifically issued for the purposes of performance of functions and powers of the Commission in respect of Adjudication Recommendation Note No. SCD/S&ED (OS&MW-I/KHI/2018/288 dated January 30, 2019 pertaining to Non-Banking Finance Company specified therein and shall be construed as in addition to earlier notifications and shall not in any manner be construed as conflicting with earlier notification of the Commission mentioned above and notifications issued earlier and still in force. [No. ID/Misc./2019]