SRO 245 (I)/2017 (Disclosure of shareholding)

GOVERNMENT OF PAKISTAN
Securities and Exchange Commission of Pakistan

Islamabad, the 7th April, 2017

NOTIFICATION

SRO 245 (I)/2017.- In exercise of the powers conferred by sub-section (1) of section 169 read with sections 101, 103, 104 and 107 of the Securities Act, 2015, (III of 2015), the Securities and Exchange Commission of Pakistan directs that the following amendments shall be made in the Reporting and Disclosure (of Shareholding by Directors, Executive Officers and Substantial Shareholders in Listed Companies) Regulations, 2015, the same being previously published in official gazette vide S.R.O. 967/2016 dated October 10, 2016 and also placed on its website as required under sub-section (4) of section 169 of the said Act, namely;-

In the aforesaid Regulations,

1. In regulation 3,-

   (a) after in sub-regulation (2) the following new sub-regulations shall be inserted, namely:-

   "(2a) The register maintained under sub-regulation (2) shall be kept at the registered office of the company and shall be open to inspection by any member of the company during the office business hours:

   Provided that the register may be maintained on paper or in any electronic form under these regulations and shall remain easily accessible all the times during the office business hours.

   Provided further that the register shall remain close during the period of book closure as announced by the company:

   (2b) It shall be the duty of every listed company to produce the register maintained under sub-regulation (2) at the commencement of every annual general meeting of the company and remain open and accessible during the continuation of the said meeting for the inspection of any person attending the meeting.";

   (b) after sub-regulation (4), the following new sub-regulation shall be inserted, namely:-

   "(5) The directors, executive officer and substantial shareholder of a listed company may apply to the Commission to obtain certified copy of their returns and forms filed with the Commission under these regulations; and

2. In regulation 5, in sub-regulation (1), in clause (a), in sub-clause (v), after the word "companies" at the end, the words "and substantial shareholders" shall be inserted.

No. SMD/BO-Policy/1(2)2001

(Bilal Rasul)
Secretary to the Commission