S. R. O. 709 (I)/ 2015, Islamabad, the27th July, 2015  

NOTIFICATION   S. R. O. 709 (I)/ 2015, In exercise of powers conferred under clause (q) of sub-section (2) of section 169 of the Securities Act, 2015 (Act No. III of 2015), the Securities and Exchange Commission of Pakistan hereby makes the following regulations, the same being previously published in the Official Gazette via S.R.O. 232 (I)/2015 dated March 17, 2015 and also placed on its website as a requirement of sub-section (4) of the said Act, namely:-    2[CHAPTER I  PRELIMINARY]   1.  Short title and commencement.- (1) These Regulations shall be called the Research Analyst Regulations, 2015.                    (2)  They shall come into force at once.     2.   Definitions.- [2][(1) In these regulations, unless there is anything repugnant in the subject or context, –]                   a) “Act” means the Securities Act, 2015 (Act No III of 2015);                   [3][b)                “Close relative” means the spouse(s), lineal ascendant(s) and descendant(s);]   “Commission” means the Securities and Exchange Commission of Pakistan established under section 3 of  the Securities and Exchange Commission of Pakistan Act, 1997 (XLII of 1997);    [4][ca) “head of research” means a person, by whatever name called, who is responsible for the overall function and operations related to research services at the management level of a research analyst which is a body corporate;]   [5][Omitted]       2[da)     “individual” means any natural person granted a certificate of registration under these regulations;   db)  “persons associated with research analyst” includes any officer, employee or any other staff of a research analyst who is involved…