The Securities and Exchange Commission of Pakistan (SECP), through, S.R.O. 602(I)/2022, dated May 14, 2022, has made revisions to the third schedule of the Companies Act, 2017.

Through this notification, SECP and made amendments in the threshold of turnover for appropriate framework have been revised downward. Following this amendment, ICAP has prepared the attached publication, which provide the context of changes made by SECP in the third schedule of the Companies Act, 2017, and to provide a comparison of the revised third schedule with the previous version of the schedule.

The self-explanatory SRO and ICAP’s publication is appended in the below links: