Law: Securities and Exchange Ordinance, 1969

Section: 18

Securities and Exchange Ordinance (XVII of 1969)--S. 18-A---Making a fictitious application or submitting more than one application for shares of companies offered to the public---Effect---Bank on behalf of sponsoring share-holders of Bank (the offerer) vide a letter, furnished to Securities and Exchange Commission, a list of cases of all those applicants which were detected by the Corporation (the balloters of the offer) as being filed in violation of S.18-A of Securities and Exchange Ordinance, 1969---One application was submitted by applicant through one Commercial Bank and other allegedly was submitted by him through a different Bank---Both said applications were submitted under same name with same N.LC. number and father's name, but with different signatures and addresses---Show-cause notices were issued by Securities and Exchange Commission to one and same person, but on different addresses---Applicant in his reply to written explanation had stated that he had submitted only one application through one Commercial Bank and that he had no knowledge of person who had filed other application---Perusal of said applications and correspondence exchanged in the matter, had revealed that said application had been submitted by two different persons using same N.LC. number and father's name, but with different addresses and signatures---Facts made it evident that application submitted by applicant through Commercial Bank was genuine---Officer was advised to accept application submitted by applicant through Commercial Bank and refund subscription money deposited against same and money deposited against fictitious application be confiscated accordingly. ORDER ARIF MIAN, EXECUTIVE DIRECTOR (SECURITIES MARKET DIVISION).---The matter arises from the Show-Cause Notices No.SMD/Co.62/2/2004-5 dated December 6, 2005 issued by the Securities and Exchange Commission of Pakistan (the Commission) to (i) Mr. Aamir Shezad Awan son of Malik A Muhammad Maqbool, N.I.C. No.4230 1-0837283-1, address: Flat No.G-596, Gall No.1, Near Masjid-e-Hira, Manzoor Colony, Karachi (Applicant No 1) and (ii) Mr. Amir Shahzad Awan son of Malik Muhammad Maqbool NIC No.42301-0837283-1, address: J.M,…

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