The Companies (Distribution of Dividend) Regulations, 2017

Statutory Notifications (S. R. O.)
GOVERNMENT OF PAKISTAN
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN NOTIFICATION Islamabad the 6th November, 2017 S.R.O. 1145(I)/2017.- In exercise of the powers conferred by section 512 read with sections 242 and 243 of the Companies Act, 2017 (XIX of 2017), the Securities and Exchange Commission of Pakistan is pleased to make the following regulations, the same having been previously published vide S.R.O. 1006(I)/2017 dated 4th October 2017, as required by proviso to sub-section (1) of the said section 512, namely:-

1. Short title and commencement. - (1) These regulations shall be called the
   Companies (Distribution of Dividends) Regulations, 2017.
   (2) They shall come into force at once.
   (3) The requirements provided in these regulations shall not be applicable on all those companies that have announced cash dividends before the commencement of these regulations.
2. Definitions.- (1) In these regulations unless there is anything repugnant in the
   subject or context:
   (i) “Act” means the Companies Act, 2017 (XIX of 2017); (ii) “Annexure” means annexure appended to these regulations; (iii) “central depository” shall have the same meaning as assigned to it under the Securities Act, 2015 (III of 2015); (iv) “Commission” means the Securities and Exchange Commission of Pakistan established under Section 3 of the Securities and Exchange Commission of Pakistan Act, 1997 (XLII of 1997); (v) “designated bank account” means a bank account maintained with a banking company and designated by a shareholder for the purpose of receiving any dividend payable in cash;