S.R.O. 862(I)/2000, Islamabad the, 6th December, 2001

PUBLISHED BY AUTHORITY Islamabad the, 6th December, 2001 NOTIFICATION S.R.O. 862(I)/2000.-In exercise of the powers conferred by section 10 of the Securities and Exchange Commission of Pakistan Act, 1997 (the Act) read with section 20(4)(o) thereof, and in supersession of this Commission?s notifications No.S.R.O.77(KE)/99 dated 25th March, 1999, S.R.O. 431(I)/2000 dated 24th June, 2000, S.R.O.542(I)/2000 dated 7th August, 2000,and S.R.O.746(I)/2000 dated 19th October, 2000, the Securities and Exchange Commission of Pakistan (the Commission), subject to such conditions and limitations as it may from time to time impose, herebydelegates the following powers and functions of the Commission to the Executive Directors ofthe respective Divisions, namely:- 1. Executive Director (Company Law Administration Division) S.No. Relevant section Nature of power/function of the Companies Ordinance, 1984 1. 21(2) To confirm alteration in the Memorandum of Association. 2. 21(3) To dispense with the notice to persons likely to be affected by the alteration in the Memorandum. 3. 22 To make order confirming alteration in the Memorandum subject to terms and conditions. 4. 23 To adjourn the proceedings for an arrangement for purchase of interests of dissident members and to give other directions in the matter. 5. 24(3) To extend time for filing of documents with the Registrar under this section. 6. 25 To revive orders confirming alteration in the Memorandum. 7. 30(4)(b) To hear appeal against order of the Registrar. 8. 37 To decide as to whether or not certain name of a company is in violation of the provisions of this section. 9. 42 To grant and revoke the licence. 10 44 To approve the conversion of a public company into a private company. 11. 46 To grant relief from the consequences of default in complying with conditions constituting a company as a private company. 12. 84 To sanction issue of shares of private and non-listed companies at discount and to extend the time beyond sixty days after the date on which the sanction is issued. 13. 86 To allow a public non-listed company to raise its further capital without issue of right shares. 14. 195(1) To accord approval for the grant…