S.R.O. 50(I)/2003, dated 16th January, 2003

SROS: S.R.O. 50(I)/2003, dated 16th January, 2003 DELEGATION OF POWERS AND FUNCTIONS OF THE SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN TO CERTAIN PERSONS, SUBJECT TO CERTAIN CONDITIONS AND LIMITATION Notification No. S.R.O. 50(1)/2003, dated 16th January, 2003.-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 section 501 of the Companies Ordinance, 1984, the Securities and Exchange Commission of Pakistan(the Commission), subject to such conditions and limitations as it may from time to time deem fit to impose, hereby further delegates the following powers and functions of the Commission under the following provisions of the Companies Ordinance, 1984, namely:- _______________________________________________ S.No. Section No. Nature of Power/Function/Offence/Default _______________________________________________ 1 2 3 _______________________________________________ (a) Powers delegated to Executive Director(Enforcement Monitoring) in the case of listed companies. 1. 78A To adjudicate appeal against refusal for registration of transfer or transmission of shares of a company. 2. 131 To adjudicate and order rectification of register of mortgages. 3. 170 To call or direct the calling of an over-due statutory meeting, annual general meeting or an extra-ordinary general meeting of a company. 4. 237(8) To grant exemption from provisions relating to consolidated financial statements. 5. 252(6) To appoint auditor in the circumstances referred to in section 252(6). 6. 270 To prosecute the accused in consequence of determination in an inspectors report. 7. 474 To make complaint to a competent forum against the alleged offence of a company. (b) Powers delegated to Executive Director(Company Law Administration) in the case of companies other than listed companies. 8. 78A To adjudicate the appeal against refusal for…