SECURITIES & EXCHANGE COMMISSION OF PAKISTAN

DELEGATION OF POWERS-& FUNCTIONS-NOTIFICATIONS

CONTENTS: CLD (CCD) SRO. 143 (I)/2017, SRO. 1092 (I)/2016 CLD (CSD) SRO. 1003 (I)/2015, SRO. 161 (I)/2017 CLD (Enforcement) SRO. 293 (I)/2010, SRO. 1061 (I)/2005 CLD (Registrars) SRO. 1092 (I)/2016, SRO. 1061 (I)/2005 Delegation of Powers Subjects/Laws Insurance Division-SRO. 122 (I)/2016, SRO. 1061 (I)/2005 PSPD (Professional Services & Policy Div) SRO. 1061 (I)/2005 SCD (Modarabas) SRO. 247 (I)/2017, SRO. 128 (I)/2017,

SRO. 562 (I)/2015, SRO. 543 (I)/2014, SRO. 1061 (I)/2005

SCD (NBFCs & Notified Entities) SRO. 247 (I)/2017, SRO. 562 (I)/2015, SRO. 1061 (I)/2005

SCD (VPSR-2005) SRO. 1141 (I)/2014 SMD (Securities Market Division)

SRO. 279 (I)/2017 (Powers Withdrawn) SRO. 123 (I)/2017, SRO. 45 (I)/2017, SRO. 934 (I)/2015, SRO. 331 (I)/2015, SRO. 626 (I)/2015, SRO. 1061 (I)/2005

DELEGATION OF POWERS SUBJECTS/LAWS (Specific laws may also be searched accordingly)

Administrator: Management by, [SRO. 625 (I)/2015] Alteration in Memorandum of Association [SRO. 406 (I)/2005] Asset-Backed Securitization read against “Stock Exchange” Audit of Cost Accounts Rules 1998 read against “cos Rules” Balloters & Transfer Agents read against “Stock Exchange” Book Building Regulations 2015 read against “Stock Exchange” Brokers & Agents read against “Stock Exchange” Brokers: Joint Inspection read against “Stock Exchange” Buy-Back of Shares Rules 1999 read against “Stock Exchange” Capital Issue Rules 1996 [SRO. 143 (I)/2017]

[SRO. 1092 (I)/2016] [SRO. 122 (I)/2016] Capital: Share Capital (VRP) Rules read against “Cos Rules” Central Depositories [SRO. 279 (I)/2017 (Powers Withdrawn)]

[SRO. 123 (I)/2017] [SRO. 626 (I)/2015] [SRO. 1061 (I)/2005]

Clearing Houses [SRO. 279 (I)/2017 (Powers Withdrawn)] [SRO. 123 (I)/2017] [SRO. 626 (I)/2015]

Commodity Exchange & Futures [SRO. 123 (I)/2017] [SRO. 626 (I)/2015]

Compliance with Licensing Conditions [SRO. 1024 (I)/2016] Companies Ordinance 1984 [SRO. 247 (I)/2017],

[SRO. 161 (I)/2017], [SRO. 143 (I)/2017], [SRO. 1092 (I)/2016], [SRO. 200 (I)/2016] [SRO. 122 (I)/2016], [SRO. 626 (I)/2015]. [SRO. 562 (I)/2015], [SRO. 1061 (I)/2005]

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Delegation of Powers Subjects/Laws-Cont’d. …

Delegation of Powers Subjects/Laws Companies Rules [SRO. 143 (I)/2017] [SRO. 1092 (I)/2016]

[SRO. 626 (I)/2015] [SRO. 1061 (I)/2005] Corporate Governance read against “Companies Rules” Credit Rating Companies Rules 1995 read against “Cos Rules” Credit Rating Cos Regulation 2016 [SRO. 123 (I)/2017] CRO Regulations 2003 read against “Cos Rules” Debt Securities [SRO. 123 (I)/2017] [SRO. 626 (I)/2015] Deposit Advertisement [SRO. 625 (I)/2015] Deposits Invitation & Acceptance [SRO. 1061 (I)/2005] Employees Provident Fund Investment read against “Cos Rules” Employees Stock Option Scheme [SRO. 161 (I)/2017] Futures, Commodity Exchange, SEO 1969

[SRO. 279 (I)/2017 (Powers Withdrawn)] [SRO. 123 (I)/2017] [SRO. 934 (I)/2015] [SRO. 626 (I)/2015] [SRO. 331 (I)/2015] [SRO. 1061 (I)/2005]

Group Cos Registration read against “Cos Rules” Insider Trading Guidelines read against “Stock Exchange” Insurance [SRO. 122 (I)/2016] [SRO. 1061 (I)/2005] Listed Cos (BBS) Regulations 2016 [SRO. 161 (I)/2017] Members’ Agents & Traders read against “Stock Exchange” Microinsurance read against “Insurance” Modarabas [SRO. 247 (I)/2017], [SRO. 128 (I)/2017]

[SRO. 562 (I)/2015], [SRO. 543 (I)/2014] [SRO. 1061 (I)/2005]

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Delegation of Powers Subjects/Laws-Cont’d. …

Delegation of Powers Subjects/Laws NBFCs & Notified Entities [SRO. 247 (I)/2017],

[SRO. 562 (I)/2015], [SRO. 1141 (I)/2014] [SRO. 1061 (I)/2005]

NLCs/NPO SRO. 929 read against “Companies Rules” Opportunity of Hearing read against “Stock Exchange” Private Equity & Venture Capital Fund read against “NBFCs” SECP Act 1997 [SRO. 123 (I)/2017] [SRO. 626 (I)/2015]

[SRO. 331 (I)/2015] [SRO. 1061 (I)/2005] Stock Exchange [SRO. 279 (I)/2017 (Powers Withdrawn)]

[SRO. 123 (I)/2017] [SRO. 626 (I)/2015] [SRO. 331 (I)/2015] [SRO. 1061 (I)/2005]

Securities Act 2015 [SRO. 279 (I)/2017 (Powers Withdrawn)] [SRO. 123 (I)/2017] [SRO. 45 (I)/2017] [SRO. 934 (I)/2015] [SRO. 626 (I)/2015]

SEO 1969 read against “Future …” Share Registrars & Balloters read against “Stock Exchange” Single Member Companies read against “Companies Rules” Takaful read against “Insurance” Take-overs read against “Stock Exchange” TPA for Health Insurance read against “Insurance” Underwriters read against “Stock Exchange” Voluntary Pension System Rules 2005 read against “NBFCs” Voluntary Winding up Regulations read against “Stock Exchange” Website maintenance SRO. 634 read against “Companies Rules”

…………….

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[SRO. 279 (I)/2017] SCD (Specialized Companies Division): The SECP, in partial supersession of SRO. 123 (I)/2017 dated 27.02.2017, subject to such conditions and limitations as it may impose from time to time, has withdrawn the specified powers and functions of the Commission, delegated to the Commissioners SMD under the specified provisions of the following laws vide SRO. 279 (I)/2017 dated 24.04.2017: Central Depositories (L&O) Regulations 2016; Clearing Houses (L&O) Regulations 2016; Futures Market Act 2016; Securities Act 2015; and Securities Exchanges (L&O) Regulations 2016.

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[SRO. 247 (I)/2017] SCD (Specialized Companies Division): The SECP, subject to such conditions and limitations as it may impose from time to time, delegated the specified powers and functions of the Commission, under the specified provisions of following laws to the Commissioners & officers of the SCD vide SRO. 247 (I)/2017 dated 07.04.2017 [supersession of SRO. 562 (I)/2015 dated 04.06.2015]:

Companies Ordinance 1984; Modaraba Cos & Modaraba (F&C) Ordinance 1980; NBFCs (Establishment & Regulation) Rules 2003; NBFCs & Notified Entities Regulations 2008; Private Funds Regulations 2015; REIT Regulations 2015; and Voluntary Pension System Rules 2005.

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[SRO. 161 (I)/2017] CLD (CSD): The SECP, subject to such conditions and limitations as it may impose from time to time, delegated the specified powers and functions of the Commission, under the second proviso of section 86(1) and section 95A(14) of the Companies Ordinance 1984, and the Public Companies (Employees Stock Option Scheme) Rules 2001 & the Listed Companies (Buy-Back of Shares) Regulations 2016, to its Commissioner (CSD) Company Law Division vide SRO. 161 (I)/2017 dated 14.03.2017.

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[SRO. 143 (I)/2017] CLD (CCD):

The SECP, in supersession of SRO. 154 (I)/2015 dated 19.02.2015 & SRO. 1245 (I)/2015 dated 16.12.2015, subject to such conditions and limitations as it may impose from time to time, delegated the specified powers and functions of the Commission, under the following laws, to its Commissioner and officers of the CCD Company Law Division vide SRO. 143 (I)/2017 dated 08.03.2017:

Companies Ordinance 1984; Companies (General Provisions & Forms) Rules 1985; Companies (Issue of Capital) Rules 1996

[read with amendments notified vide SRO. 34 (I)/2016 dated

19.01.2016 & draft Public Offering of Securities Rules 2016 [SRO. 332 (I)/2016 dated 12.04.2016];

Companies (Audit of Cost Accounts) Rules 1998; Cos’ Share Capital (VRP) Rules 2000; Companies (Registration Offices) Regulations 2003; Single Member Companies Rules 2003

[read with amendments notified vide SRO. 293 (I)/2015 dated

09.04.2015];

Group Companies Registration Regulations 2008; Public Sector Cos (Corporate Governance) Rules 2013; SRO. 634 (I)/2014 dated 10.07.2014

[read with SRO. 684 (I)/2015 dated 01.07.2015] & Press Release dated 04.11.2015];

SRO. 929 (I)/2015 dated 10.09.2015; and Employees PF (Investment in Listed Securities) Rules 2016;

Above-referred SRO. 154 (I)/2015 dated 19.02.2015 superseded SRO. 1084 (I)/2014 dated 02.12.2014, SRO. 832 (I)/2014 dated 18.09.2014, SRO. 659 (I)/2009 dated 14.07.2009, SR0. 908 (I)/2008 dated 30.08.2008 and SRO. 712 (1)/2003 dated 18.07.2003, and SRO. 1061 (I)/2005 dated 18.10.2005 to the extent of powers delegated to CLD.

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[SRO. 128 (I)/2017] SCD (Additional Director) Policy Regulation & Dev Deptt:

Specified powers & functions of the Registrar Modaraba delegated to Additional Director Policy Regulation & Development Department (SCD) under the specified provisions of the Modaraba Companies & Modaraba Rules 1981 vide SRO. 128 (I)/2017 dated 28.02.2017. Read with SECP links: Islamic Finance, Modarabas under Licensing & Modarabas under Data & Statistics.

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[SRO. 123 (I)/2017] SMD (Commissioner): SMD (Public Offering & Regulated Persons Deptt.):

In partial supersession of SRO. 45 (I)/2017 dated 27.01.2017, SRO. 162 (I)/2016 dated 29.02.2016, SRO. 934 (I)/2015 dated 14.06.2015 and SRO. 626 (I)/2015 dated 25.06.2015, specified powers & functions of the SECP delegated to the Commissioners & Officers of the Securities Market Division (SMD) under the specified provisions of the following laws vide SRO. 123 (I)/2017 dated 27.02.2017:

Book Building Regulations 2015; Brokers & Agents Registration Rules 2001; Central Depositories Act 1997; Central Depositories (L&O) Regulations 2016;

CDC of Pakistan Ltd. Regulations; Clearing Houses (L&O) Regulations 2016;

NCCPL Regulations; Commodity Exchange & Futures Contracts Rules 2005;

PMEX Regulations; Companies (Asset-Backed Securitization) Rules 1999; Credit Rating Companies Regulation 2016; Debt Securities Regulations 2017; Futures Market Act 2016; Joint Inspection Regulations 2015; Licensed Person (… Winding up) Regulations 2016; Listed Companies (SAVS & Takeovers) Regulations 2008; Members’ Agents & Traders (ES) Rules 2001; SECP Act 1997; SECP (Opportunity of Hearing) Regulations 2016; Securities Act 2015; Securities Brokers (L&O) Regulations 2016; Securities Exchanges (L&O) Regulations 2016;

Pakistan Stock Exchange Regulations; Securities & Exchange Rules 1971; Share Registrars & Balloters Regulations 2017; Stock Exchange Members (IBR) Rules 2001; and Underwriters Rules 2015.

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[SRO. 45 (I)/2017] SMD (Public Offering & Regulated Persons Deptt.):

Subsequent Changes Note: Partially superseded by SRO. 123 (I)/2017 dated 27.02.2017.

Preamble Extract: In partial modification of SRO. 626 (I)/2015 dated 25.06.2015, the SECP delegated its powers and functions under section 150 (Disciplinary action in respect of licensed person) and section 162(1) (Recovery of penalties) of the Security Act 2015 to the Executive Director PORPD-SMD vide SRO. 45 (I)/2017 dated 27.01.2017.

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[SRO. 1092 (I)/2016] CLD (Corporatization & Compliance Department): CLD (Registrars):

Specified powers & functions of the SECP delegated to Commissioner, Executive Director and Director of the Corporatization & Compliance Department (CCD), and Registrar of Companies & Registrars concerned of the Companies Registration Offices (CROs) (Except Insurance companies & NBFCs) with reference to the following laws [any pending proceedings under any previous Notification shall stand transferred to the delegated authority provided in this Notification forthwith] vide SRO. 1092 (I)/2016 dated 25.11.2016:

Companies Ordinance 2016 and Companies (Audit of Cost Accounts) Rules 1998; Companies (General Provisions & Forms) Rules 1985; Companies (Issue of Capital) Rules 1996

[read with amendments notified vide SRO. 34 (I)/2016 dated 19.01.2016 & draft Public Offering of Securities Rules 2016

[SRO. 332 (I)/2016 dated 12.04.2016];

Companies (Registration Offices) Regulations 2003 Cos’ Share Capital (VRP) Rules 2000; Group Companies Registration Regulations 2008; Public Sector Cos (Corporate Governance) Rules 2013; Single Member Companies Rules 2003

[read with amendments notified vide SRO. 293 (I)/2015 dated 09.04.2015]; and

SRO. 634 (I)/2014 dated 10.07.2014 [read with SRO. 684 (I)/2015 dated 01.07.2015] & Press Release dated 04.11.2015].

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[SRO. 1024 ()/2016] Companies Compliance with Licensing Conditions:

The Commissioner (Companies Law Division), in exercise of the powers conferred under section 246(1) of the Companies Ordinance 1984, delegated by the Commission vide SRO. 154 (I)/2015 dated 19.02.2015, and in supersession of SRO. 121 (I)/2016 dated 15.02.2016, issued the Companies (Compliance with Licensing Conditions) General Order 2016 applicable on and after 30.06.2016 to the class of companies specified in the Schedule I vide SRO. 1024 ()/2016 dated 02.11.2016.

[SRO. 200 (I)/2016] Prohibition of certain Names:

The SECP, subsequent to SRO. 154 (I)/2015 dated 19.02.2015, concurrently delegated the powers entrusted to the Registrar of Companies under section 37(3) & (4) of the Companies Ordinance 2016, to Executive Director, Corporatization & Compliance Deptt. (CCD) vide SRO. 200 (I)/2016 dated 09.03.2016.

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[SRO. 122 (I)/2016] Insurance Division:

Powers and functions of the Commission under the specified provisions, of the Companies Ordinance 1984, Insurance Ordinance 2000, Companies (Issue of Capital) Rules 1996 [read with amendments notified vide SRO. 34 (I)/2016 dated 19.01.2016 & draft Public Offering of Securities Rules 2016 [SRO. 332 (I)/2016 dated 12.04.2016], Insurance Rules 2002 & SEC (Insurance) Rules 2002,(subsequently both repealed by the Insurance Rules 2017), Takaful Rules 2012, Third Party Administrator (TPA) for Health Insurance Regulations 2014 [SRO. 160 (I)/2014] dated 10.03.2014 & SEC (Microinsurance) Rules 2014 [SRO. 116 (I)/2014] dated 19.02.2014, delegated to its Commissioner (Insurance) and Officers to the extent of insurance companies and insurance brokers only, whether listed or not vide SRO. 122 (I)/2016 dated 12.02.2016

Above-referred SRO. 122 (I)/2016 dated 12.02.2016 superseded SRO. 1317 (I)/2012 dated 19.10.2012, and SRO. 221 (I)/2015 dated 11.03.2015 as amended by SRO. 373 (I)/2015 dated 24.04.2015 for delegation of powers in addition to SRO. 148 (I)/2015 dated 17.02.2015 duly superseded by SRO. 562 (I)/2015 dated 04.06.2015.

Above-referred SRO. 221 (I)/2015 dated 11.03.2015 superseded SRO. 387 (I)/2013 dated 14.05.2013, SRO. 1354 (I)/2012 dated 31.10.2012 & SRO. 328 (I)/2010 dated 14.05.2010.

Above-referred SRO. 1354 (I)/2012 dated 31.10.2012 superseded SRO. 328 (I)/2010 dated 14.05.2010 & SRO. 666 (I)/2009 dated 16.07.2009.

Above-referred SRO. 666 (I)/2009 dated 16.07.2009 superseded SRO. 415 (I)/2009 dated 27.05.2009, SRO. 204 (I)/2009 dated 02.03.2009 & SRO. 1053 (I)/2008 dated 08.10.2008, and partially modified SRO. 1061 (I)/2005 dated 18.10.2005.

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[SRO. 1003 (I)/2015] CLD (Corporate Supervision Deptt.):

In partial supersession of SRO. 154 (I)/2015 dated 19.02.2015 to the extent of powers delegated to Corporate Supervision Department (CSD) of Company Law Division (CLD), the SECP, subject to such conditions and limitations as it may impose from time to time impose, delegated the specified powers and functions of the Commission to its Commissioners and officers, of the specified provisions under the following laws vide SRO. 1003 (I)/2015 dated 15.10.2015:

Companies Ordinance 1984; Companies (Issue of Capital) Rules 1996

[read with amendments notified vide SRO. 34 (I)/2016 dated 19.01.2016 & draft Public Offering of Securities Rules 2016 [SRO. 332 (I)/2016 dated 12.04.2016];

Companies (Audit of Cost Accounts) Rules 1998; Cos’ Share Capital (Var in Rights & Privileges) Rules 2000; Group Companies Registration Regulations 2008; SRO. 634 (I)/2014 dated 10.07.2014

[read with SRO. 684 (I)/2015 dated 01.07.2015] & Press Release dated 04.11.2015]; and

SRO. 924 (I)/2015 [Gaz p. 3255 (I)] read with Press Release both dated 09.09.2015.

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[SRO. 934 (I)/2015] SMD (Commissioner): SMD (Licensing & Capital Issue Deptt.): SMD (Public Offering & Regulated Persons Deptt.):

Subsequent Changes Note: Partially superseded by SRO. 123 (I)/2017 dated 27.02.2017. Earlier it was partially modified by SRO. 162 (I)/2016 dated 29.02.2016, to substitute “Executive Director/Head of Public Offering & Regulated Persons Department” for “Director/Head of Licensing & Capital Issue Department” wherever appearing).

Preamble Extract: Offer of securities section 87(8), Penalties for non-compliance section 126(3) & Offences & penalties section 159(5) of the Securities Act 2015 alongwith sections 20 (Prohibitory orders) & 22 (Penalty for certain refusal or failure) of the SEO 1969 (repealed by the Futures Market Act 2016) powers delegated to the Director/Head of Licensing & Capital Issue Department and shall be exercised by the Commissioner SMD concurrently vide SRO. 934 (I)/2015 dated 14.06.2015 notified in partial modification of SRO. 626 (I)/2015 dated 25.06.2015.

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[SRO. 626 (I)/2015] SMD (Securities Market Division)

Subsequent Changes Note: Partially superseded by SRO. 123 (I)/2017 dated 27.02.2017, and

partially modified by SRO. 45 (I)/2017 dated 27.01.2017, SRO. 162 (I)/2016 dated 29.02.2016 (to substitute “Executive Director/Head of Public Offering & Regulated Persons Department” for “Director/Head of Licensing & Capital Issue Department” wherever appearing), and SRO. 934 (I)/2015 dated 14.06.2015.

Preamble Extract: In partial modification of SRO. 331 (I)/2015 dated 21.04.2015, and SRO. 154 (I)/2015 dated 19.02.2015, the SECP delegated its powers & functions under specified provisions of the following laws vide SRO. 626 (I)/2015 dated 25.06.2015:

Balloters & Transfer Agents Rules 2015; Brokers & Agents Registration Rules 2001; Central Depositories Act 1997; CDC (Establishment & Regulation) Rules 1996;

CDC of Pakistan Ltd. Regulations; Clearing Houses (Registration & Regulation) Rules 2005;

NCCPL Regulations; Commodity Exchange & Futures Contracts Rules 2005;

PMEX Regulations; Companies (Asset-Backed Securitization) Rules 1999; Companies (Buy-Back of Shares) Rules 1999; Companies Ordinance 1984; Credit Rating Companies Rules 1995; Debt Securities Trustees Regulations 2012,

Repealed through DSTR 2017;

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SRO. 626

Listed Companies (SAVS & Takeovers) Regulations 2008; Members’ Agents & Traders (ES) Rules 2001;

Pakistan Stock Exchange Regulations; SECP Act 1997; Securities Act 2015; SEO 1969 (repealed by the Futures Market Act 2016); Securities & Exchange Rules 1971; Stock Exchange Members (IBR) Rules 2001; and Underwriters Rules 2015.

[SRO. 625 (I)/2015] Management by Administrator: Deposit Advertisement:

Section 295 (Management by Administrator) powers of the Companies Ordinance 1984 and Obligation of public companies to issue advertisement and provisions relation thereto rule 6(4) & Certain provisions to apply to private companies and public companies not issuing advertisement rule 7(c) of the Companies (Invitation & Acceptance of Deposits) Rules 1987 powers rescinded and shall be exercised by the Commission vide SRO. 625 (I)/2015 dated 23.06.2015 amendment in SRO. 154 (I)/2015 dated 19.02.2015..

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[SRO. 562 (I)/2015] SCD (Specialized Companies Division):

Subsequent Changes Note: Superseded by SRO. 247 (I)/2017 dated 07.04.2017

Preamble Extract: In supersession of SRO. 148 (I)/2015 dated 17.02.2015, powers and functions of the Commission under the specified provisions of the Companies Ordinance 1984, Modaraba Companies & Modaraba (Floatation & Control) Ordinance 1980 (XXXI of 1980), NBFCs (Establishment & Regulation) Rules 2003, Voluntary Pension System Rules 2005 (VPSR-2005), NBFCs & Notified Entities Regulations 2008, and Private Equity & Venture Capital Fund Regulations 2008 (PEVCFR-2008) duly repealed by the Private Funds Regulations 2015, delegated to its Commissioner and Officers of the Specialized Companies Division (SCD) vide SRO. 562 (I)/2015 dated 04.06.2015.

Read with SRO. 1141 (I)/2014 dated 23.12.2014.

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[SRO. 331 (I)/2015] SMD (Securities Market Division):

Subsequent Changes Note: Partially modified by SRO. 626 (I)/2015 dated 25.06.2015 and SRO. 154 (I)/2015 dated 19.02.2015.

Preamble Extract: In supersession of SRO. 1076 (I)/2010 dated 29.11.2010, SRO. 685 (I)/2011 dated 07.07.2011, SRO. 124 (I)/2013 dated 20.02.2013, SRO. 18 (I)/2014 dated 10.01.2014 & SRO. 41 (I)/2014 dated 17.01.2014, the SECP delegated its powers & functions under specified provisions of the following laws to its Commissioners & officers of the SMD vide SRO. 331 (I)/2015 dated 21.04.2015:

Balloters, Transfer Agents & Underwriters Rules 2001

Read with drafts of the Share Registrars & Balloters Regulations 2016 & the Underwriters Regulations 2016;

Brokers & Agents Registration Rules 2001; Central Depositories Act 1997; CDC (Establishment & Regulation) Rules 1996;

CDC of Pakistan Ltd. Regulations; Clearing Houses (Registration & Regulation) Rules 2005; Commodity Exchange & Futures Contracts Rules 2005;

PMEX Regulations; Companies (Asset-Backed Securitization) Rules 1999; Companies (Buy-Back of Shares) Rules 1999; Companies Ordinance 1984; Credit Rating Companies Rules 1995; Members’ Agents & Traders (ES) Rules 2001; SECP Act 1997; SEO 1969 (repealed by the Futures Market Act 2016) Securities & Exchange Rules 1971; Stock Exchange Members (IBR) Rules 2001;

Pakistan Stock Exchange Regulations;

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[SRO. 1141 (I)/2014] Voluntary Pension System Rules 2005 (VPSR-2005): Subsequent Changes Note:

Read with SRO. 562 (I)/2015 dated 04.06.2015.

Preamble Extract: In partial modification of SRO. 1061 (I)/2005 dated 18.10.2005, all the powers & functions of the Commission contained in the VPSR-2005, delegated to Mr. Bilal Rasul, Director/Head of Department, Policy Regulation & Development Deptt. (SCD) vide SRO. 1141 (I)/2014 dated 23.12.2014.

[SRO. 543 (I)/2014] SCD (Modarabas):

In partial modification of SRO. 1061 (I)/2005 dated 18.10.2005, specified powers of the Commission under the Modaraba Companies & Modaraba (Floatation & Control) Ordinance 1980 (XXXI of 1980), delegated to the Commissioner (SCD) vide SRO. 543 (I)/2014 dated 19.06.2014.

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[SRO. 293 (I)/2010] CLD (Enforcement Department):

In partial modification of SRO. 659 (1)/2009 dated 14.07.2009 [superseded by SRO. 154 (I)/2015], SRO. 1061 (I)/2005 dated 18.10.2005, SRO. 971 (I)/2006 dated 11.09.2006, SRO. 839 (I)/2008 dated 11.08.2008 and SRO. 908 (I)/2008 dated 29.08.2008 [superseded by SRO. 154 (I)/2015], the powers and functions of the Commission under the specified provisions of the Companies Ordinance 1984 delegated to the Executive Director & Director (Enforcement Department) vide SRO. 293 (I)/2010 dated 03.05.2010.

Above-referred superseded SRO. 659 (1)/2009 dated 14.07.2009 partially modified SRO. 839 (I)/2008 dated 11.08.2008, SRO. 908 (I)/2008 dated 29.08.2008, SRO. 971 (I)/2006 dated 11.09.2006 & SRO. 1061 (I)/2005 dated 18.10.2005.

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[SRO 1061 (I)/2005] CLD (Enforcement Department): CLD (Registrars): Insurance Division: PSPD (Professional Services & Policy Division): SCD (Modarabas): SCD (NBFC Department): SCD (Specialized Companies Division): SMD (Securities Market Division): Subsequent Changes Note:

SRO. 1061 (I)/2005 partially superseded by SRO. 154 (I)/2015, and Partially modified by SRO. 1141 (I)/2014, SRO. 543 (I)/2014, SRO. 293 (I)/2010, SRO. 666 (I)/2009 & SRO. 659 (1)/2009

Preamble Extract: In supersession of SRO. 162 (I)/2004 dated 17.03.2004, SRO. 208 (I)/2004 dated 09.04.2004, SRO. 406 (I)/2005 dated 10.05.2005 read with Press Release dated 12.05.2005 (Alteration in Memorandum of Association), SRO. 710 (I)/2005 dated 12.07.2005, SRO. 847 (I)/2005 dated 19.08.2005 and SRO. 899 (I)/2005 dated 02.09.2005, the powers and functions of the Commission under the specified provisions of the following laws delegated to its Commissioners, Executive Directors & Directors of specified Departments/Divisions (CLD, Enforcement, Insurance, NBFCs, PSPD, SCD, SMD, PSPD & Registration, and Additional Registrar of Companies, Karachi/Lahore, and Registrars Concerned of the CROs vide SRO. 1061 (I)/2005 dated 18.10.2005:

CDC Act 1997 (XIX of 1997); Companies Ordinance 1984; Insurance Ordinance 2000; Listed Companies (SAVS & Take-overs) Ordinance 2002 duly repealed by the Securities Act 2015;

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SRO. 1061 Modaraba Companies & Modaraba (Floatation & Control)

Ordinance 1980 (XXXI of 1980); SECP Act 1997 (XLII of 1997); SEO 1969 (repealed by the Futures Market Act 2016); Balloters, Transfer Agents & Underwriters Rules 2001

read with drafts of the Share Registrars & Balloters Regulations 2016 & the Underwriters Regulations 2016;

Brokers & Agents Registration Rules 2001; CDC (Establishment & Regulation) Rules 1996;

read with Central Depositories (LO) Regulations 2016; Companies (Asset Backed Securitization) Rules 1999; Companies (Audit of Cost Accounts) Rules 1998; Companies (Buy-Back of Shares) Rules 1999

read with the Companies (Amendment) Act 2015 (XXI of 2015) & the Listed Companies (Buy-Back of Shares) Regulations 2016;

Companies (General Provisions & Forms) Rules 1985; Companies (Invitation & Acceptance of Deposits) Rules 1987; Companies’ Share Capital (VRP) Rules 2000; Credit Rating Companies Rules 1995

read with the Credit Rating Companies Regulations 2016;

Insurance Rules 2002 (subsequently repealed by the Insurance Rules 2017)

Listed Companies (Prohibition of Insider Trading) Guidelines Ref: the Access to Inside Information Regulations 2016;

Members, Agents & Traders (Eligibility Standard) Rules 2001; NBFCs (Establishment & Regulation) Rules 2003; SEC (Insurance) Rules 2002 (subsequently repealed by the Insurance Rules 2017) Securities & Exchange Rules 1971; Single Member Companies Rules 2003; Stock Exchange Members (IBR) Rules 2001; and Voluntary Pension System Rules 2005 (VPSR-2005).

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