INTRODUCTION

 

Securities and Exchange Commission of Pakistan issued following SROs

 

  1. S. R.O. 1283 (I)/2019 dated October 28, 2019
  2. S. R.O. 1285 (I)/2019 dated October 28, 2019
  3. S. R.O. 1286 (I)/2019 dated October 28, 2019
  4. S. R.O. 1284 (I)/2019 dated October 28, 2019

COMMENTARY

AMENDMENTS IN “DEBT SECURITIES TRUSTEES REGULATIONS, 2017”

SECP vide S.R.O. 1283 (I)/2019 dated October 28, 2019 made amendments in Regulation 7, in sub-regulation (1) of the Debt Securities Trustees Regulations, 2017 whereby requirement of deposit of Rs. 100,000 as renewal fee for license to act or perform functions of a debt securities trustee has been deleted.

AMENDMENTS IN PUBLIC OFFERING (REGULATED SECURITIES ACTIVITIES LICENSING) REGULATIONS, 2017

SECP vide S.R.O. 1285 (I)/2019 dated 28th October, 2019 made amendments in Regulation 7, sub-regulation (1) and Schedule II of the Public Offering (Regulated Securities Activities Licensing) Regulations, 2017 whereby 2017 whereby requirement of deposit of renewal fee for license to act or perform functions of a banker to an issue, consultant to the issue and underwriter  has been deleted.

Further, Schedule II specifying fee different type of license under these regulations have been revised as under:

“SCHEDULE II*

[See regulation 5 and 7]
Sr. No. Name of regulated securities activity Fresh license fee
1 Banker to an issue Rs. 500,000
2 Consultant to the issue Rs. 200,000/-
3 Underwriter Rs. 250,000/-
Table of fee revised as per the directive of Policy Board vide S.R.O. 716(I)/2019, dated 2nd July, 2019 ] All the fees indicated above shall be paid through a bank challan in favour of the Securities and Exchange Commission of Pakistan.”

 

Underwrite license fee has been revised from Rs. 500,000 to Rs. 250,000 while other two above remained unchanged while renewal fee in three categories have been deleted.

AMENDMENTS IN FIFTH SCHEDULE OF THE PUBLIC OFFERING REGULATIONS, 2017

SECP vide S.R.O. 1286 (I)/2019 dated October 28, 2019 made amendments in Fifth Schedule of the Public Offering Regulations, 2017 whereby “Processing Fee” as mentioned under Fifth Schedule of the Public Offering Regulations, 2017 have reduced for public offering of equity securities of a company (listed/unlisted) to Rs. 200,000. Before substitution this was Rs. 500,000 for listed company and Rs. 500,000 plus 0.025% of the post listed paid-up capital in case of public offering of equity securities of an unlisted company.

AMENDMENTS IN THE SHARE REGISTRARS AND BALLOTTERS REGULATIONS, 2017

SECP vide S.R.O. 1284 (I)/2019 dated 28th October, 2019 made amendments in the Share Registrars and Ballotters Regulations, 2017 whereby requirement of deposit of Rs. 25,000 as renewal fee for license to act or perform functions of a Share Registrars and Ballotters has been deleted. Accordingly, Form C for application of renewal of license has also been amended to delete sentence related to evidence of renewal fee.

DOCUMENTS LINK

Debt Securities Regulations Public offering regulated securites regulations Regulated regulations Share registrars regulations