RegAlertRule · SECP · 22 Sep 2020
SRO 904(I)/2020: Delegation of Power to Approve Panel of Lawyers under REIT Regulations, 2015
The Commission substitutes serial number 3 in SRO 247(I)/2017, delegating to the Executive Director (Specialized Companies Division) the power under regulations 4(2)(ii) and 4(4)(i) of the Real Estate Investment Trust Regulations, 2015 to approve a panel of lawyers. If that post is vacant, the holder is unable to perform or is unavailable, the power stands delegated to the Commissioner, who may exercise all delegated powers. Pending proceedings transfer forthwith to the delegated authority, which proceeds with the matter as it stood before this notification.
GOVERNMENT OF PAKISTAN
Securities and Exchange Commission of Pakistan -.-.-.- Islamabad the 22nd September, 2020
NOTIFICATION
S.R.O. 904 (I)/2020.- In exercise of the 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 (the Commission), in partial modification of earlier notification S.R.O 247(I)/2017, dated April 7, 2017, under the heading Powers and Functions of the Commission delegated to Executive Director (Specialized Companies Division) under the sub-heading “Relevant sections of Real Estate Investment Trust Regulations, 2015”, serial number 3, the following is substituted and be read as under, namely:-
POWERS AND FUNCTIONS OF THE COMMISSION DELEGATED TO EXECUTIVE DIRECTOR (SPECIALIZED COMPANIES DIVISION)
| Sr. | Real Estate Investment Trust Regulations, 2015 | Nature of power/function |
|---|---|---|
| 3. | 4(2)(ii) & 4 (4) (i) | Power to approve panel of lawyers In case the post of the Executive Director (Specialized Companies Division) is vacant or he/she is unable to perform his/her functions or he/she is unavailable to exercise the powers and functions delegated to him/her through this notification shall stand delegated to the Commissioner who shall have the authority to exercise all powers so delegated. Any pending proceedings shall stand transferred to the delegated authority provided in this Notification forthwith, who shall proceed with the matter as it stands prior to the coming into the effect of this Notification. |
[File No. SCD/NBFC/NBFCR/2020]
( Bilal Rasul )
Secretary to the Commission
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The links and the sentences they come from (2)
- Amends
- Notification No. 247(I)/2017 dated 2017-04-07Not in RegAlert
“in partial modification of earlier notification S.R.O 247(I)/2017, dated April 7, 2017”
- Issued under
“In exercise of the powers conferred by section 10 of the Securities and Exchange Commission of Pakistan Act, 1997 (XLII of 1997) (the Act)”
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