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050117

SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN

S.R.O. 61(I)/2005.—In exercise of the powers conferred by regulation 4(1 )(c) of the Securities and Exchange Commission of Pakistan ((Conduct of Business) Regulations,2000 and in partial modification of the modification of the notification No. 956(I)/2004

Pakistan, is pleased to decide that Mr. Rashid I. Malik, Commissioner shall, in addition to any other work assigned to him from time to time, be responsible to oversee work of the Divisions of the Securities and Exchange Commission of Pakistan, as specified below, namely:—

(i) Company Law Division.

(ii) Support Services Division.

The above arrangement shall take effect from 17 January 2005.

S.R.O. 62(I)/2065.— In exercise of the powers conferred by notification No. S.R.0.162(I)/2004dated 17 March 2004 and in supersession of the notification No. 205(I)/2004 dated 9 April 2004.of Securities and Exchange Commission of Pakistan (the Commission), the Commissioner (Securities Market) of the Commission, subject to such, conditions and limitations as he may from time to time impose, hereby redelegates the following powers and. functions of the Commission as delegated to him under section 10 of the Securities and Exchange Commission of Pakistan Act, 1997 to Mr. Muhammad Rashid Safdar Piracha, Director, authorizing him to dispose of the investors complaints relating to the Karachi Stock Exchange and its Directors^ Members and the Officers, namely:—-

(a) .

S.No.	Relevant section of	Nature of power/function
	the Securities add
	Exchange Ordinance,
	1969 (the Ordinance)
(f)	(2)
1.	6(1)	To authorize a person to inspect the books of
		accounts maintained by directors, officers and
		members of the stock exchange.
2.		To require relevant information about the stock
		exchange or its directors, members and officers
		relating to their business on the stock
		exchange.
3.	7	To take cognizance of the contraventions of
		the relevant provisions of the Ordinance, rules,
		. regulations and directions made thereunder,
		and in case of default, to recommend to\he
		Commissioner (Securities Market for taking , appropriate action against defaulter's.
4.	20	To direct the person concerned by order in
		writing to abstain from doing an act or
		committing a practice which constitutes the
		contravention of any of the relevant
		provisions of the Ordinance or the rules made
		thereunder.

5.		To take cognizance and impose penalties for
		omissions as mentioned in section 22.
6.	23	To proceed against a person for civil liabilities.
7.	24	To recommend to the Commissioner (Securities
		Market) for proceeding against a person
		allegedly involved in any of the fraudulent acts
		under section 17.
&	25	To take cognizance of the offences and to
		report the matter to the court, after seeking
		approval of the Commissioner (Securities
		Market).
	Relevant section of
	the Securities and
	Exchange commission
	of Pakistan Act, 1997
	(the Act)
1.	20(6)	(i) To maintain the confidence of investors
		in the securities market by ensuring
		adequate protection for such investors.
		(ii) To take whatever action it can take, and
		is necessary, in order to enforce and give
		effect to the Act, for disposal of any, of
		the investors/ complaints lodged with
		the Commission.
2.	32	To call for relevant information from any
		person.
	. Relevant rule of
	the Brokers and
	Agents Registration
	Rules, 200l

1.		To impose fine on a broker not exceeding fifty
		thousand rupees and to recommend to the

(1)	(2)	(3)
		Commissioner (Securities Market) for
		suspension of the registration of a broker for a
		specific period.
2	9	To recommend to the Commissioner (Securities
		Marlcet) for cancellation of registration of a
		broker.

The powers and functions of the Commission as re-delegated above, shall also be exercised by the Commissioner (Securities Market) concurrently.

S.R.O. 63(I)/2005.— In exercise of the powers conferred by notification No. S.R.O 162(1)2004 dated 17th March 2004 and in supersession of the notification No. 206(I)/2004 dated 9th April 2004 of the Securities and Exchange Commission of Pakistan (the Commission), the. Commissioner (Securities Market) of the Commission, subject to Such conditions and limitations as he may from time to time impose, hereby re-delegates the following powers and functions of the Commission as delegated to him under section 10 of the Securities and Exchange Commission of Pakistan Act, 1997 to Mr. Imtiaz Haider, Director, authorizing him to dispose of the investors complaints relating to the Lahore Stock Exchange and its Directors, Members and the Officers, namely:—

S.No.	Relevant section of	Nature of power/function
	the Securities and
	Exchange Ordinance,
	1969 (the Ordinance)
(1)	(2)
	6(1)	To authorize a person to inspect the books of
		accounts maintained by directors, officers and
		members of the stock exchange.
2	6(3)	To require relevant information about the stock
		exchange or its directors, members and officers
		relating to their business on the stock
		exchange.
3.	7	To take cognizance of the contraventions of
		the relevant provisions of the Ordinance, rules,
		regulations and directions made thereunder,
		and in case of default, to recommend' to the
		Commissioner (Securities Market) for taking
		appropriate action against the defaulters.

	20	To direct the person concerned by order in
		writing to abstain from doing an act or.
		committing a practice which constitutes the
		contravention of any of the relevant
		provisions of the Ordinance or the rules made
		thereunder.
5.	22	To take cognizance and impose penalties for
		omissions as mentioned in section 22.
6.	23	To proceed against a person for civil liabilities.
7.	24	To recommend to the Commissioner (Securities
		Market) for proceeding against a person
	1	allegedly involved in any of the fraudulent acts
		under section 17.

8		To take cognizance of the offences and to
		report the matter to the court after seeking
		approval of the commissioner (Securities
		Market)
	Relevant section of
	the Securities and
	Exchange Commission,
	of Pakistan Act, 1997
	(the Act)
1.	20(6)	(i) To maintain the confidence of investors
		in the securities market by ensuring
		adequate protection for such investors.
		(ii) To take whatever action it can take, and
		is necessary, in order to enforce and give
		effect to the Act, for disposal of any of
		the investors/complaints lodged with
		the Commission.
		To call for relevant information from any
		person.

	Relevant rule of
	the Brokers and
	Agents Registration .
	Rules, 2001.

1.	8	To impose fine on a broker not exceeding fifty
		thousand rupees and to recommend to the
		Commissioner (Securities Market) for
		suspension of the registration of a broker for a
		specific period.
2.	9	To recommend to the Commissioner (Securities
		Market) for cancellation of registration of a
		broker.

The powers and functions of the Commission as re-delegated above, shall also be exercised by the Commissioner (Securities Market) concurrently.

[No.ED/SECP-9/2000].

Sd/-MOHAMMED HAYAT JASRA,

Executive Director.

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