S.R.O.2(I)/2026, Islamabad, 1st January, 2026.

NOTIFICATION   S.R.O.2(I)/2026. – In exercise of the powers conferred by sub-section (2) of section 282B of the Companies Ordinance, 1984 (XLVII of 1984), the Securities and Exchange Commission of Pakistan is hereby pleased to make the following amendments in the Real Estate Investment Trust Regulations, 2022, the same having been previously published in the official Gazette vide S.R.O. 77(I)/2025 dated January 27, 2025, namely: -   AMENDMENTS   In the aforesaid Regulations, - (1)    in regulation 2, in sub-regulation (1), -                               (a)         in clause (ii), in sub-clause (a),  in para (i), after the word “institution”, at the end, the words “as defined in the Companies Act, 2017” shall be added; para (iv) shall be omitted;  para (ix) shall be omitted; and after para (xi), the following new paragraph shall be inserted, namely: - “(xia) Limited Liability Partnership;”;                               (b)            for clause (iii), the following shall be substituted, namely: - “(iii) “Borrowing” means funds received for a REIT Scheme with an obligation to pay back these funds: from financial institutions through loan arrangement; or  through issuance of debt securities; or  from associated companies, associated undertakings, sponsors or directors of the REIT Management Company, after prior approval of unitholders through special resolution:  Provided that tenure of borrowing from sponsors, directors of the RMC shall not exceed 24 months.”; for clause (vii), the following shall be substituted, namely: - “(vii) “Customer Advances” means the amount received by the REIT Scheme or SPV in advance against sale of the Real Estate, or a part thereof…