RegAlert

Rule · SECP · 14 Feb 2022

SRO 87(I)/2022 - Delegation of Power under Private Funds Regulations, 2015

licensing
securities

The Securities and Exchange Commission of Pakistan amends its earlier notification S.R.O 247(I)/2017 by substituting serial no. 2 in the powers delegated to the Executive Director (Specialized Companies Division). Under regulation 5(2) of the Private Funds Regulations, 2015, the Executive Director may now grant approval for the draft Trust Deed along with the name and consent of the trustee of a proposed Private Fund per Schedule II, or the draft Memorandum of Association or draft Limited Liability Partnership Agreement along with the custodian agreement per Schedule III.

PakistanSecurities and Exchange Commission of Pakistan

GOVERNMENT OF PAKISTAN
Securities and Exchange Commission of Pakistan -.-.- Islamabad the 14th January, 2022

NOTIFICATION

S.R.O. 87 (I)/2022.- In exercise of powers conferred by section 10 of the Securities and Exchange Commission of Pakistan Act, 1997 (XLII of 1997) (the Act) the Securities and Exchange Commission of Pakistan hereby makes the following amendments to its earlier notification S.R.O 247 (I)/2017 dated April 7, 2017, namely;-

AMENDMENTS

In the aforesaid SRO, in the heading “POWERS AND FUNCTIONS OF THE COMMISSION DELEGATED TO EXECUTIVE DIRECTOR AND DIRECTORS”, in section 1 (powers delegated to Executive Director (Specialized Companies Division), in the clause “Relevant Regulation of Private Funds Regulations, 2015,” for serial no. 2, the following shall be substituted, namely: -

“

2.5(2)To grant approval for the draft Trust Deed along with the name and consent of the trustee of the proposed Private Fund in accordance with Schedule II or draft Memorandum of Association or draft Limited Liability Partnership Agreement along with custodian agreement as per Schedule III

” .

[File No. SCD/NBFC/NBFCR/2021]

( Bilal Rasul )
Secretary to the Commission

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The Securities and ExchangeCommission of Pakistan Act, 1997 …1997 · PK-LAWThe Securities and Exchange Commission of Pakistan Act, 1997 (Act No. XLII of 1997) (1997-12-19)Notification No. 247 dated2017-04-07Not in RegAlertNotification No. 247 dated 2017-04-07 — Not in RegAlertSRO 87(I)/2022 - Delegation ofPower under Private Funds Reg…2022-02-14 · this documentSRO 87(I)/2022 - Delegation of Power under Private Funds Regulations, 2015 (2022-02-14)
amendssupersedesissued underrefers todashed card: not in RegAlert (or proposed)arrows run from the older text to the one that changes it
The links and the sentences they come from (2)
Amends
  • Notification No. 247 dated 2017-04-07Not in RegAlert

    “makes the following amendments to its earlier notification S.R.O 247 (I)/2017 dated April 7, 2017”

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