Withdrawal of Circular No. 13 of 2023 on Licensing with Foreign Sponsors or Directors

Circular No. 13 of 2023 regarding licensing and allied applications involving foreign individuals or entities as sponsors or directors is withdrawn with immediate effect. This action is taken under the powers conferred by Section 40B and Section 20 of the Securities and Exchange Commission of Pakistan Act, 1997. The withdrawal applies to all entities previously subject to the requirements outlined in the superseded circular.

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Securities and Exchange Commission of Pakistan

Licensing & Registration Division

Licensing Department

No. LRD/LD/Circular/ /2026

Circular No. 09 of 2026

Islamabad, June 02, 2026

SUBJECT: WITHDRAWAL OF CIRCULAR NO. 13 OF 2023 DATED AUGUST 31, 2023 - LICENSING AND ALLIED APPLICATIONS WITH SPONSORS/ DIRECTORS AS FOREIGN INDIVIDUALS/ENTITIES

In exercise of powers conferred by Section 40B, read with clause (d) of sub-section (4) of Section 20 of the Securities and Exchange Commission of Pakistan Act, 1997 (XLII of 1997), the Securities and Exchange Commission of Pakistan hereby withdraws Circular No. 13 of 2023 dated August 31, 2023 titled “LICENSING AND ALLIED APPLICATIONS WITH SPONSORS/ DIRECTORS AS FOREIGN INDIVIDUALS/ ENTITIES” with immediate effect.

Muzzafar Ahmed Mirza
Commissioner
(Licensing & Registration Division)

Distribution to:

(i). Chief Executive Officer, PSX, Karachi; (ii). Chief Executive Officer, PMEX, Karachi; (iii). Chief Executive Officer, CDCPL, Karachi; (iv). Chief Executive Officer, NCCPL, Karachi.

NIC Building, 63-Jinnah Avenue, Islamabad Website: www.secp.gov.pk

Lineage: In force

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Timeline

This document supersedes: Circular 13 of 2023: Licensing and Allied Applications with Sponsors/Directors as Foreign Individuals/Entities

Source: Securities and Exchange Commission of Pakistan — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works