THE SECURITIES AND THE EXCHANGES COMMISSION OF THE PAKISTAN ACT IS 1997
PART I. PRELIMINARY
1 Short title and commencement.
PART II. THE COMMISSION
3 Establishment of the Commission. 4 Head Ofice. 5 The Commissioners.
6 The Chairman.
6A The Acting Chairman.
7 Term of office of the Commissioners.
8 Appointment of employees of the commission.
9 Appointment of advisers and consultants. 10 Delegation of the Commission's functions or powers.
11 The Commission to furnish information.
11A Committees of the Commission.
PART III. THE BOARD
12 The Securities and Exchange Policy Board.
13 Procedure of the Board.
14 Board may invite others to meetings.
15 Committees of the Board. PART IV . CONFLICT OF INTEREST
16 Disclosure of interest by Commissioners and Members.
17 Notification of interest by others. PART V . DISQUALIFICATION, REMOVAL, RESIGNATION AND VACANCIES.
18 Disqualification of Members and Commissioners.
19 Removal, resignation and vacancies.
PART VI. POWERS AND FUNCTIONS
20 Powers and functions of the Commission.
21 Functions and powers of the Board.
2 Supplementary provisions. PART VII. FINANCE
23 The Fund.
24 Expenditure to be charged on the Fund.
25 Annual report and accounts.
26 Power to obtain finance, borrow money and receive grants.
28 Bank Accounts.
28 A Inspection. PART VIII. INSPECTION, INVESTIGATION AND ENFORCEMENT
29 Investigation and proceedings by the Commission.
30 Powers of the investigating officers of the Commission.
31 Forcible entry.
31 A Power of the Commission to call for information.
32 Power to call for examination.
32 A Implementation of orders of the Commission.
32 B Review.
33 Appeal to the Appellate Bench of the Commission.
34 Appeal to the Court. PART IX. CONFIDENTIALITY OF INFORMATION
35 Obligation of confidentiality.
36 Permitted disclosure. PART IX A. POWERS OF INTERVENTION BY COMMISSION
36 A Scope of powers under this Part.
36 B Restriction of business. PART IX B. SELF REGULATORY ORGANIZATION
36 C Selfregulatory organizations.
36 D Registration of selfregulatory organizations.
36 E Regulations of selfregulatory organization.
36 F Maintenance and inspection of records.
36 G Powers of the Commission to issue directions to selfregulatory organization. PART IX C. AUDIT OVERSIGHT BOARD.
36 H Definitions.
36 I Establishment of AOB.
36 J Members of AOB.
36 K Functions of AOB.
36 L Appointment of employees of AOB.
36 M Disclosure of interest.
36 N Disqualification of members.
36 O Removal, resignation and vacancies.
36 P Fund of AOB.
36 Q Conduct of business of AOB.
36 R Accounts and Audit.
36 S Annual report.
36 T Registration and deregistration of audit firm.
36 U Inspection and proceedings by AOB.
36 V Appeal to the Court.
36 W Register of audit firms.
36 X AOB may seek assistance.
36 Y Registration and supervision fees.
36 Z Power to make regulations.
36 AA Power to give directions, circulars, code, guidelines etc.
36 BB Power to call for information.
36 CC Penalty, sanctions or revocation of registration. PART X. COGNIZANCE AND PROSECUTION OF OFFENCES
37 Cognizance of offences.
38 Prosecution of Offences by the Commission.
38 A Opportunity of hearing to the Commission in stay matters. PART XI. RULES AND REGULATIONS
39 Power to make rules.
40 Power to make regulations.
40 A Penalty for violation of rules[,] regulations, directives and notification.
40 AA Fines and penalties to be credited to the Federal Consolidated Fund.
40 B Power of the Commission to issue directives, circulars, guidelines, etc. PART XII. GENERAL
41 Common seal.
41 A Standard of proof.
41B Inquiry, investigation and other Proceedings in respect of regulated persons.
42 Public servants.
42 A Indemnity of the Commission, Chairman, Commissioners, employees and Member.
42 B Recovery of penalties.
42 C Proof of documents by production of certified copies.
42 D Cooperation and assistance to foreign regulatory. authorities.
42 E Power to amend the Schedule.
43 Dissolution of the Authority.
43 A Abolition of Department of Insurance.
44 Savings. 45 Act to override other laws.
THE SCHEDULE. POWERS AND FUNCTIONS CONFERRED ON THE AUTHORITY UNDER THE ORDINANCE TO BE EXERCISED BY THE COMMISSION.
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