SECP vide SRO 84(I)/2020 (dated February 7, 2020) issued draft amendments in the Modaraba Companies and Modaraba Rules 1981 for public comments. The amendments mainly relate to:

  • Registration of modaraba company (Rule 8);
  • Submission of annual report by modaraba company (Rule 9);
  • Submission of periodical reports (Rule 10);
  • Annual balance sheet (Rule 11);
  • Authentication of balance sheet (Rule 12);
  • Expenses to be reimbursed to modaraba companies, etc. (Rule 16);
  • Capitalisation of profits (Rule 17);
  • Change in form no. IX, XI; and

Changes in second and third schedule. The draft amendments can be accessed on following link: https://www.secp.gov.pk/document/sro-84-i-2020-draft-amendments-in-the-modaraba-companies-andmodaraba-rules-1981/?wpdmdl=38344

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