In order to facilitate the corporate sector in complying with the applicable regulatory requirements, the Securities and Exchange Commission of Pakistan (SECP) has issued draft Companies Regulations, 2022.
The consolidated regulations aim to standardize forms/applications filed by companies and make the the regulatory regime easier to understand and comply with. The draft regulations have been placed on SECP’s website for soliciting public comments before final publication. The proposed draft covers regulatory requirements applicable on company incorporation, post-incorporation compliance and reporting, issuance of license under section 42 of the Companies Act, 2017, further issue of share capital, group registration, easy exit of companies, and registration of intermediaries.
To facilitate end users, several forms have been merged resulting in a substantial reduction of existing forms from 75 to only 27.
Draft Regulations can be accessed here. Interested parties, stakeholders and public can submit their comments through email at comments.ccd@secp.gov.pk within 14 days from the date of notification.