RegAlertRule · SECP · 5 Jul 2019
SRO720 (I)/2019-Notification Deletion of sub-para (iv) of Directive- For Life Insurance Only-LRRD
The Securities and Exchange Commission of Pakistan modifies Directive S.R.O. 1405(I)/2018 by inserting the phrase "in respect of life insurance policies only" into paragraph 4 after the words "the date of filing of claim" and into paragraph 5 after the words "settlement of his/her claim". These amendments restrict the application of the specified provisions within the directive exclusively to life insurance policies.
GOVERNMENT OF PAKISTAN
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN -.-.-.- Islamabad, the 3 rd July, 2019 NOTIFICATION
S.R.O. 720 (I)/2019.- In exercise of the powers conferred under section 40B read with clause (r) of sub-section (4) and clauses (fa) and (fb) of sub-section (6) of section 20 of the Securities and Exchange Commission of Pakistan Act, 1997 (XLII of 1997), the Securities and Exchange Commission of Pakistan hereby makes the following modifications in its earlier Directive S. R. O. 1405(I)/2018 dated November 16, 2018 namely:- In the aforesaid Directive, (a) in paragraph 4, in sub-para (iv) after the words “the date of filing of claim” the words “in respect of life insurance policies only” shall be inserted; and (b) in paragraph 5, after the words “settlement of his/her claim” the words “in respect of life insurance policies only” shall be inserted. No. SY/SECP/8/13
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