S.R.O. 88(I)/2005, Islamabad, the 27th January, 2005

SROS: S.R.O. 88(I)/2005, Islamabad, the 27th January, 2005 Voluntary Pension System Rules, 2005 PART II GOVERNMENT OF PAKISTAN FINANCE DIVISION NOTIFICATIONS Islamabad, the 30th November, 2004. S.R.O. 975 (I)/2004. - In exercise of the powers conferred by sub-clause (viii) of clause (a) of section 282A of the Companies Ordinance, 1984 (XLVII of 1984), the Federal Government is pleased to specify Pension Fund Scheme Business authorized under the Voluntary Pension System Rules, 2004, to be a form of business. Islamabad, the 27th January, 2005. S.R.O. 87(I)/2005. - In exercise of the powers conferred by sub-clause (viii) of clause (a) of section 282A of the Companies Ordinance, 1984 (XLVII of 1984), the Federal Government is pleased to direct that the following amendment shall be made in Notification No. S.R.O. 975(I)/2004, dated the 30th November, 2004, namely: - In the aforesaid Notification, for the figure 2004 the figure 2005 shall be substituted. S.R.O. 88(I)/2005. - In exercise of the powers conferred by section 282B of the Companies Ordinance, 1984 (XLVII of 1984), the Federal Government is pleased to make the following rules, the same having been previously published vide S.R.O. 976(I)/2004 dated the 30th November, 2004, as required by section 506 of the said Ordinance, namely: - 1. Short title and commencement. - (1) These rules may be called the Voluntary Pension System Rules, 2005. (2) They shall come into force at once. 2. Definitions. - (1) In these rules, unless there is anything repugnant in the subject or context, - (a) accounting period means the period ending on an accounting date and commencing from the establishment of the pension fund or from the end of the last accounting period, as the case may be; (b) annuity means a series of payments of set frequency; (c) asset management company means a company which has been licenced by the Commission under rule 5 of the Non-Banking Finance Companies Rules, 2003, to offer investment schemes under trust deeds and to issue redeemable securities; (d) auditor means a person qualified under the provisions of section 254 of the Ordinance to act as an auditor of a company; (e) central depository company means…