S.R.O. 388(I)/2009, dated 12th May, 2009

SROS: S.R.O. 388(I)/2009, dated 12th May, 2009 AMENDMENTS IN THE SECOND SCHEDULE T0 THE MODARABA COMPANIES AND MODARABA RULES, 1981 Notification No. S.R.O. 388(1)/2009, dated 12th May, 2009:- In exercise of the powers conferred by section 41 of the Modaraba Companies and Modaraba(Floatation and Control) Ordinance, 1980(XXXI of 1980), read with clause(c) of section 43 of the Securities and Exchange Commission of Pakistan Act, 1997(XLH of 1997) and the Finance Division`s Notification No. S.R.O. 698(1)/86, dated 2nd July, 1986, the Securities and Exchange Commission of Pakistan is pleased to direct that the following further amendments shall be made in the Second Schedule to the Modaraba Companies and Modaraba Rules, 1981, namely:- THE SECOND SCHEDULE [See rule 3(18)] SCALE OF FEES 1. For registration of a modaraba company(non-refundable fee): (i) at the time of registration. Rs, 250,000/- (ii) renewal annually in the month of January Rs, 25,000/- ___________________________________________________ 2. Application for: Perpetual More than Up to five five years years ___________________________________________________ (1) (2) (3) ___________________________________________________ (a) authorization to float modaraba(non-refundable fee): (i) Where the nominal Rs. 50,000/- Rs.40,000/- Rs. 30,000/- amount docs not exceed Rs. 2.5 million (ii) Where the nominal Rs. 100,000/- Rs. 60,000/- Rs. 40,000/- amount exceeds Rs. 2.5 million but does not exceed Rs. 5 million (iii) Where the nominal Rs. 100,000/- Rs. 60,000/- Rs.40,000/- amount exceeds Rs. 5 plus plus plus million Rs. 10,000/- Rs. 6,000/- Rs. 4,000/- for every for every for every additional additional additional…