SRO 270(I)/2020 – Amendments in Schedule II of NBFCs and Notified Entities Regulations, 2008

GOVERNMENT OF PAKISTAN
Securities and Exchange Commission of Pakistan -.-.-.- Islamabad 31 st March, 2020 NOTIFICATION S.R.O. 270 (I)/2020.- In exercise of the powers conferred by sub-section (2) of section 282B of the Companies Ordinance, 1984 (XLVII of 1984), on direction of the Securities and Exchange Policy Board vide Notification S.R.O. 1620(I) /2019, dated December 24, 2019, the Securities and Exchange Commission of Pakistan is pleased to make the following amendments in the Non-Banking Finance Companies and Notified Entities Regulations, 2008, the same having been previously published in the official Gazette vide S.R.O. 116 (I)/2020, dated February 18, 2020:
In the aforesaid Regulations, in Schedule II,-

1. In clause A, the following shall be substituted namely,-
   “A) Application Fees under the Rules:
   Form Subject of application Amount
   (in Rs.)
   Form I Application for permission to form an NBFC 250,000 Form II Application for license to undertake or carry out an activity or function 500,000 Form IV Application for renewal of license to carry out an activity or function Nil Provided that Non-Bank Micro Finance Companies shall pay the following fee amounts:
   Form Subject of application Amount
   (in Rs.)
   Form I Application for permission to form an NBFC 125,000 Form II Application for license to undertake or carry out an activity or function 250,000 Form IV Application for renewal of license to carry out an activity or function Nil
2. In clause B, for the table following shall be substituted namely,-
   “B) Application Fees under the Regulations:
   S.No. Regulation Subject of application Amount (in Rs.)
   1 Regulation 44 Application for registration of an Open End Scheme or Closed End Scheme 500,000 2 Regulation 40A(1) Application for certificate of registration to act as a trustee 500,000 [File No. SCD/NBFC/NBFCR/2019]