INTRODUCTION

SECP vide S.R.O.1569 (I)/2018 – Dated December 26, 2018 notified amendments to the Public Offering (Regulated Securities Activities Licensing) Regulations 2017.

COMMENTARY

Amendment in Definitions:

New definitions are inserted in Regulation # 2 of the Public Offering (Regulated Securities Activities Licensing) Regulations 2017, and are as follows: –

1 – “Companies Act” means Companies Act 2017 (XIX of 2017)

2 – “Issuer” shall have the same meaning as assigned to it in clause (XXVII) of Section 2 of the Securities Act 2015 (III of 2015)

3 – References of the Companies Ordinance 1984 are replaced with Companies Act 2017.

4 – “Underwriter” shall have the same meaning as assigned to it in Securities Act 2015 (III of 2015)

Amendment in Licensing Conditions – Schedule I:

Banker to Issue, along with scheduled bank now could be the development financial institution and Credit Rating for Banker to Issue would be now A2.

LINK OF DOCUMENT

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Amendments to Public Offering Regulations, 2017