GOVERNMENT OF PAKISTAN
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN -.-.- Islamabad, the 29th April, 2021

NOTIFICATION

S.R.O.527(I)/2021.- In exercise of the powers conferred by Section 39 of the Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980 (XXXI of 1980) (“the Ordinance”) and in supersession of S.R.O.1387(I)/2020, dated December 21, 2020 and in continuation of S.R.O. 128(I)/2017 dated February 28, 2017, the Registrar Modaraba hereby delegates his following powers and functions under the Ordinance and the Modaraba Companies and Modaraba Rules, 1981 to the officers subordinate to him and specified below, subject to such limitations, restrictions or conditions as specified herein and as he may from time to time impose, namely:-

POWERS AND FUNCTIONS OF THE REGISTRAR MODARABA DELEGATED TO ADDITIONAL DIRECTOR, LICENSED ENTITIES WING, OFFSITE-I DEPARTMENT, SUPERVISION DIVISION

S. No.	Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980 (XXXI of 1980)	Nature of power/functions
1.	14	To require modaraba company to furnish such documents referred to sub-section (1) and (2) as may be required, at any time by an order in writing.
2.	34	To: (a) enforce attendance of a person and examine him on oath or affirmation; and (b) compel the discovery and production of documents.
S. No.	The Modaraba Companies and Modaraba Rules, 1981	Nature of power/functions
3.	3(2)(f)	To lay-down, receive and examine all reports, accounts and other documents referred to in section 14 and to pass orders for and receive such additional documents or reports or information as may be considered necessary.
4.	3(3)	To: (i) Examine documents (annual accounts and quarterly accounts) received by him and return the deficient document for compliance, revision or correction. (ii) Allow a representative of the modaraba company to rectify or complete annual accounts and quarterly accounts.
5.	3(4)	Not register, file or record any document (annual accounts and quarterly accounts) in respect of which a fee is payable until such fee has been deposited in the correct head of account and receipt furnished to him and shall, pending the payment of such fee, act in the same way as if no such document had been tendered for registration, filing or record.
6.	3(5)	To issue acknowledgement of filing of document (annual accounts and quarterly accounts) in Form VI of the First Schedule of annual accounts and quarterly accounts.
7.	3(6)	To maintain the documents (annual and quarterly accounts) in the manner provided under this rule.
8.	3(7)	To make endorsement of the particulars on every document (annual accounts and quarterly accounts) as specified under this rule and sign, and affix his official seal, to every such endorsement.
9.	3(8,9 & 10)	To maintain a register of modaraba companies and a register of modarabas and to enter therein the information relating to filing of annual and quarterly accounts in the manner as specified under sub-rules 8, 9 & 10 of rule 3.
10.	3(11)	To permit members of the public to inspect such registers and record of documents (annual accounts and quarterly accounts) maintained under this rule as he may deem fit, upon granting permission and payment of prescribed fee
11.	3(13)	To grant copies of entries in the registers and documents (annual accounts and quarterly accounts) on payment of the prescribed fees.
12.	3(14)	To take cognizance of omission to file or register documents (annual accounts and quarterly accounts) on due date or any other omission, lapse, irregularity or
		infraction of the law by or in relation to a modaraba company or modaraba.
13.	3(16)	To prepare or cause to be prepared and keep a seal for the authentication of documents.
14.	10	To receive the quarterly accounts of the modaraba filed by the modaraba company.

POWERS AND FUNCTIONS OF THE REGISTRAR MODARABA DELEGATED TO DIRECTOR, LICENSED ENTITIES WING, ON-SITE DEPARTMENT, SUPERVISION DIVISION

S. No.	Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980 (XXXI of 1980)	Nature of power/functions
1.	21	To order an enquiry into the affairs of a modaraba company or a modaraba: -on his own motion, or -on receipt of application from the certificate holders of Modaraba Certificates the value of which is not less than ten per cent of the total subscribed amount of the modaraba.

The powers and functions delegated to the aforesaid officer are exercisable concurrently by the Registrar Modaraba.

No. SC/M/PRDD/DOP/2021-