Government of Pakistan
Securities and Exchange Commission of Pakistan -.-.-.-

Islamabad, the 16th June, 2022

NOTIFICATION

S. R. O. 809 (I)/2022.- In exercise of powers conferred by sub-section (1) of section 512 read with sections 242 and 243 of the Companies Act, 2017 (XIX of 2017), the Securities and Exchange Commission of Pakistan hereby makes the following amendment to the Companies (Distribution of Dividends) Regulations, 2017, the same having been previously published in the official Gazette vide S.R.O. 122 (I)/2022 dated January 19, 2022 and placed on its website as required under proviso to the said sub-regulation (1), namely:-

In the aforesaid Regulations, -

(1) in regulation 2, in sub-regulation (1), for clause (vi), the following shall be substituted, namely: -

“(vi) “paying agent” means a bank or any entity including a share registrar and a central depository appointed by a company and having relevant approval of SBP for making payment of cash dividend directly into the designated bank account of entitled shareholder;”; and

(2) in regulation 4, in sub-regulation (1), the words “its share registrar or a” shall be omitted.

[File No. SMD/SE/2(20)/2020]