SECP vide SRO 82(I)/2020 (dated February 7, 2020) issued draft amendments to Companies (General Provisions and Forms) Regulations 2018 for public comments. The draft amendments propose to introduce new forms for:

  • Notice to holders of bearer securities issued by a company;
  • Register containing particulars of holders of bearer securities;
  • Notice to members having ultimate beneficial owners;
  • Declaration by member about ultimate beneficial owner(s);
  • Declaration by member about change of ultimate beneficial owner(s); and
  • Return containing particulars of ultimate beneficial owners.

Further, the draft amendments also propose to introduce new regulations for:

  • Procedure for registration or cancellation of securities of a bearer nature;
  • Additional particulars of ultimate beneficial owners;
  • Notice to members having ultimate beneficial owners; and
  • Disposal of books and papers of company which has been wound up.

The draft amendments can be accessed on following link:https://www.secp.gov.pk/document/sro-82-i2020- draft-amendments-to-companies-general-provisions- and-forms-regulations-2018/?wpdmdl=38341

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