Filing of documents: SECP fixes a huge fee for companies

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has fixed a huge fee for filing, registering or recording any document relating to the scheme of amalgamation by the small/medium - and large-sized companies.

The SECP issued SRO 980 (I)/2022 to amend the Seventh Schedule (Table of fees) to the Companies Act, 2017, on Friday.

The SECP has fixed different fees for filing of documents electronically and manually.

According to the revised Seventh Schedule of the Companies Act, 2017, for filing, registering or recording any document notifying particulars relating to a scheme of amalgamation and allied documents prescribed, the following fee to be determined in accordance with the classification of the transferee company: The fee for the filing of the said documents by the small-sized company would be Rs 100,000 (electronically) and Rs 200,000 (manually).

The fee for the filing of these documents by the public sector company would be Rs 50,000 (electronically) and Rs100,000 (manually).

The fee for the filing of these documents by the public sector company would be Rs 50,000 (electronically) and Rs 100,000 (manually).

The fee for the filing of the documents by the medium-sized company would be Rs 250,000 (electronically) and Rs 500,000 (manually).

The fee for the filing of the documents by the large-sized company would be Rs 350,000 (electronically) and Rs 700,000 (manually).

The fee for the filing of the documents by the Public Interest Company, excluding a public sector company would be Rs 500,000 (electronically) and Rs 700,000 (manually).

For filing, registering or recording any document notifying particulars relating to a scheme of amalgamation and allied documents prescribed under section 284, the following fee to be determined according to the classification of the transferee company, given in the Third Schedule:

The fee for filing of the documents by the public sector company would be Rs 50,000 (electronically) and Rs 100,000 (manually).

The fee for the filing of the documents by the medium-sized company would be Rs 250,000 (electronically) and Rs 500,000 (manually).

The fee for the filing of the documents by the large-sized company would be Rs 350,000 (electronically) and Rs 700,000 (manually).

The SECP has also fixed fee for the sanctioning compromise or arrangement including reconstruction, amalgamation or division under section 279 to 282, the following fee to be determined according to the classification of the transferee company, given in the Third Schedule: The fee for the filing of the said documents by the small-sized company would be Rs 250,000 (electronically) and Rs 500,000 (manually).

The fee for the filing of the documents by the public sector company would be Rs 200,000 (electronically) and Rs 400,000 (manually).

Copyright Business Recorder, 2022