The Securities and Exchange Commission of Pakistan (SECP) has decided to restrain police, any agency/authority or bureau from arresting/taking into detention SECP commissioners/registrars or any other officer or employee of the commission for doing anything, while performing their duties for enforcing the SECP Acts/laws, without the permission of the federal government.
According to the draft of the Companies Act 2015, the SECP has introduced a provision regarding 'Protection of acts done in good faith'. It said that no suit, prosecution or other legal proceeding shall lie against the Government or the Commission or any officer of Government or the Commission or the Registrar or any other person in respect of anything which is in good faith done or intended to be done in pursuance of this Act or any rules or orders made thereunder or in respect of the publication by or under the authority of the Government, Commission or such officer of any report, paper or proceedings.
Notwithstanding anything contained in any other law for the time in force, neither any FIR or any other report of similar nature shall be registered nor any arrest or detention shall be made by the police or any other institution, agency, authority or bureau against Commissioners or registrar or any other officer or employee of the Commission performing duties under the Act for anything done or intended to be done in pursuance of the Act or any administered legislation or any rule or regulation made thereunder without the permission of the Federal Government.
In case any arrest is made of any of the persons referred with the permission of the Federal Government, immediate facilities shall be provided to him for communication with his family members, legal adviser and the Commission, draft law added.