SRO 998 (I)/2019 draft amendment to the Employees Contributory Funds (Investment in Listed Securities) Regulations, 2018

GOVERNMENT OF PAKISTAN
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN -.-.-.- Islamabad, the 4 th September, 2019 NOTIFICATION S.R.O. 998 (I)/2019. _ The following draft amendment to the Employees Contributory Funds (Investment in Listed Securities) Regulations, 2018, proposed to be made by the Securities and Exchange Commission of Pakistan, in exercise of powers conferred by section 512 read with sub-clause (ii) of clause (b) of sub-section (2) of section 218 of the Companies Act, 2017 (Act No. XIX of 2017), is hereby published for information of all persons likely to be affected thereby and notice is hereby given that objections and suggestions, if any, received within fourteen days from the date of notification of these regulations will be taken into consideration, namely:- DRAFT AMENDMENT In the aforesaid regulations, in regulation 4, in clause (iv), in sub-clause (b), for the proviso the following shall be substituted, namely:- “Provided that where investment is made in Islamic listed debt securities, a minimum rating of “A-” shall be allowed:
Provided further that the Commission may, through notification, change the minimum rating of a security assigned in this clause;”. [File No. EMD/D-II/26/2010]