SRO 685 of 2014 – Amendment in the sixth schedule to the companies ordinance,1984

SECURITIES & EXCHANGE COMMISSION OF PAKISTAN
(Commission's Secretariat)

EMD/Misc/Dil/2009-49

22nd July, 2014

Subject: Amendment in the Sixth Schedule to the Companies Ordinance, 1984

Enclosed is S.R.O. notification on the above subject for publication in Part-II of the Gazette of Pakistan, Extraordinary with the request to send 50 printed copies to the undersigned. Payment will be made on receipt of bill.

Bushra Aslam
Secretary to the Commission

Encl: As Above

The Manager,
Printing Corporation of Pakistan Press,
Islamabad

*

Government of Pakistan
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN

NOTIFICATION

Islamabad, the 22nd July, 2014

SRO 685 (I)/2014. - In exercise of powers conferred by section 505 of the Companies Ordinance, 1984 (XLVII of 1984), read with clause (c) of section 43 of the Securities and Exchange Commission of Pakistan Act, 1997, (XLII of 1997) and SRO No.698 (I)/86, dated 2nd July 1986, the Securities and Exchange Commission of Pakistan is hereby pleased to make the following amendment in the Sixth Schedule to the said Ordinance, namely:-

For Clause I, for sub-clause (3) the following shall be substituted, namely,-

"For registration of an increase in share capital made after the first registration of the company, an amount equal to the difference between the amount which would have been payable on registration of the company by reference to its capital as increased and the amount which would have been payable by reference to its capital immediately before the increase, calculated at the rates given under clause 2:

Provided that no such fee shall be applicable on registration of an increase in authorized share capital of a transferee company after merger consequent to sanction of application for compromises, arrangements or reconstruction for merger of companies by the Court pursuant to Section 284 to 287 of the Ordinance, to the extent of aggregate of authorized capital of the transferor and transferee companies.

"Explanation" For the purpose of calculation of fee for registration of an increase in the share capital of the company which was originally formed on the basis of physical business now opting online submission, the difference of fee shall be calculated on the basis of rates applicable to a company treating as formed on online submission.".

F.No. EMD/Misc/DII/2009-49

(Bushra Aslam)
Secretary to the Commission