SRO 732(I)/2018 - Notification in the TABLE F

GOVERNMENT OF PAKISTAN
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN -.-.-.- Islamabad, the June 7 th , 2018 NOTIFICATION S.R.O. 732(I)/2018.- In exercise of the powers conferred by section 507 of the Companies Act, 2017 (XIX of 2017), the Securities and Exchange Commission of Pakistan is pleased to make the following alterations to the First Schedule to the said Act, namely: - In the aforesaid Schedule, in Part II, in Table F,- (a) in the heading, for the expression “2016”, the expression “2017” shall be substituted; (b) in the section, “Memorandum of Association”,- (i) Paragraph V shall be substituted with the expression “ The company shall achieve the above said objects subject to the conditions specified in Associations with Charitable and Not for Profit Objects Regulations, 2018 and any additional condition mentioned in the license”; (ii) in Paragraph VIII, the expression “such amount as may be required but not exceeding Rs. 100,000/- (Rupees One Hundred Thousand Only)” at the end, shall be substituted with “ an amount of rupees_________ but not less than one hundred thousand rupees or such other amount as may be notified by the Commission”; (iii) Paragraph IX shall be omitted; (iv) in paragraph X, the expressions “Witness to above signatures: ( For the documents submitted electronically) (Digital Signature Certificate Provider) Name:
Address:” appearing under the second table, shall be omitted; (c) in the section, Article of Association,-

(A) in the subsection “ Number of Directors”, in paragraph 31, the expression “ and not more than nine (9)” shall be omitted; and (B) In subsection, Supplementary Provisions Relating to Tax, in clause 65, in paragraph (viii), the expression “Witness to above signatures: ( For the documents submitted electronically) (Digital Signature Certificate Provider) Name:
Address:” appearing under the second table, shall be omitted. ______________________________________________________________________________ [File No. CLD/CCD/PR(11)/2017]