S.R.O. 899(I)/2005, dated 2nd September, 2005

SROS: S.R.O. 899(I)/2005, dated 2nd September, 2005 REDELEGATION OF CERTAIN POWERS AND FUNCTIONS OF THE COMMISSION(SECP) TO THE EXECUTIVE DIRECTOR, SUBJECT TO CERTAIN CONDITIONS AND LIMITATIONS Notification No. S.R.O. 899(I)/2005, dated 2nd September, 2005:- In exercise of the powers conferred by Notification No. S.R.O. 162(I)/2004, dated 17th March, 2004 of the Securities and Exchange Commission of Pakistan(the Commission), the Commissioner(Securities Market Division) of the Commission, subject to such conditions and limitations as he may from time to time impose, hereby re-delegates the following powers and functions of the Commission as delegated to him under Section 10 of the Securities and Exchange Commission of Pakistan Act, 1997 to the Executive Director(Securities Market Division), as specified below, namely:-- (a) __________________________________________________________________ Relevant section of the Securities S. No. and Exchange Nature of Power/Function Ordinance, 1969 (the Ordinance) __________________________________________________________________ (1) (2) (3) __________________________________________________________________ 1. 6(1) To authorize a person to inspect the books of accounts maintained by directors, officers and members of the stock exchange. 2. 6(3) To require relevant information about the stock exchange or its directors, members and officers relating to their business on the stock exchange. 3. 7 (i) To take cognizance of the contraventions of the relevant provisions of the Ordinance, rules, regulations and directions made thereunder, and in case of default, may suspend the transaction of any business on the stock exchange for a period specified in the Ordinance and also recommend the suspension or removal of an officer or member from his office, or membership of the stock exchange, under clauses(a) (cl) of sub- section(1) of Section 7 of the Ordinance. (ii) To process and recommend to the Commission for taking action against a stock exchange or its governing body in terms of clauses(b) (c) of sub-section (1) of the said section 7. 4. 20 To direct the person concerned by order in writing to abstain from doing an act or committing…