Clearing Houses (Licensing and Operations) Regulations, 2016

Clearing Houses (Licensing and Operations) Regulations, 2016

S.R.O.1030(I)/2026 dated  June 16, 2026., S. R. O. No. 733(I)/2016,, Islamabad, the 9th August, 2016

The Government of Pakistan Securities and Exchange Commission of Pakistan   NOTIFICATION   Islamabad, the 9th August, 2016   S. R. O. No. 733(I)/2016[1]. - *** In exercise of powers conferred by sub-section (1) of section 169 read with sections 22, 23, 24, 35, 36, 37 and 151 of the Securities Act, 2015 [2][and sub-section (1) of Section 114 read with Sections 23, 24, 35, 37 and 95 of the Futures Market Act, 2016, (XIV of 2016)], the Securities and Exchange Commission of Pakistan hereby   makes   the   following   Regulations, the same have been previously published in the official Gazette vide S.R.O.   338(I)/2016 dated 15th April 2016 and also placed on its website as required under sub-section (4) of section 169 of the said Act, namely: - CHAPTER I PRELIMINARY   1.       Short title and commencement, - (1) These Regulations shall be called the Clearing Houses (Licensing and Operations) Regulations, 2016. (2) They shall come into force at once.   2. Definitions, - (1) In these Regulations, unless there is anything repugnant   in   the subject or context, – “Act” means the Securities Act, 2015 (III of 2015); [3][(ab) “Companies Act” means the Companies Act, 2017 (XIX of 2017);]   “fund” means settlement guarantee fund established by the clearing house under section 26 of the Act;   [4][(ba) “Futures Act” means the Futures Market Act, 2016, (XIV of 2016);] “senior management officer” for the purposes of these regulations, in addition to the persons mentioned in clause (lviii) of section (2) [5][of the Act and clause (47) of Section (2) of the Futures Act,] include the following, by whatever name called: company secretary;   chief financial officer;   head of internal audit;   head of information technology (IT);   head of IT security; and   chief risk officer; “trust” means the trust constituted by the trust deed under the Trust Act, 1882 (II of 1882); and   [6][]   (2) Words and expressions used but not defined in these…