The Clearing Houses (Licensing and Operations) Regulations 2016

The Government of Pakistan
Securities and Exchange Commission of Pakistan NOTIFICATION Islamabad, the 9th August, 2016 S. R. O. No. 733(I)/2016 1 . - * In exercise of powers conferred by sub-section (1) of section 169 read with sections 22, 23, 24, 35, 36, 37 and 151 of the Securities Act, 2015 2 [and sub-section (1) of Section 114 read with Sections 23, 24, 35, 37 and 95 of the Futures Market Act, 2016, (XIV of 2016)], the Securities and ExchangeCommission of Pakistan hereby makes the following Regulations, the same have been previously published in the official Gazette vide S.R.O. 338(I)/2016 dated 15th April 2016 and also placed on its website asrequired under sub-section (4) of section 169 of the said Act, namely: -
CHAPTER I
PRELIMINARY

1. Short title and commencement, - (1) These Regulations shall be called the Clearing Houses
   (Licensing and Operations) Regulations, 2016.
   (2) They shall come into force at once.
2. Definitions, - (1) In these Regulations, unless there is anything repugnant in the subject or
   context, –
   (a) “Act” means the Securities Act, 2015 (III of 2015); 3 [(ab) “Companies Act” means the Companies Act, 2017 (XIX of 2017);] (b) “fund”means settlement guarantee fund established by the clearing house undersection 26 of the Act; 4 [(ba) “Futures Act” means the Futures Market Act, 2016, (XIV of 2016);] (c) “senior management officer” for the purposes of these regulations, in addition to the persons mentioned in clause (lviii) of section (2) 5 [of the Act and clause (47) of Section (2) of the Futures Act,] include the following, by whatever name called:
   (i) company secretary;
   (ii) chief financial officer;