The Securities and Exchange Commission of Pakistan (SECP) has issued a new affidavit/undertaking for grant of licences or licence renewals to Non-Profit Organisations (NPOs) under section 42 of the Companies Ordinance, 1984. In this regard, the SECP has issued circular 34 of 2016 here on Wednesday.
According to the SECP, the commission in continuation of SECP's Circular number 13 of 2016, Circular number 16 of 2016 and Circular 12 of 2011, has decided that requirements for filing of affidavit and undertaking with grant and renewal of licence application, as the case may be, has been modified in the laid down manner:
Firstly, the affidavit as required vide para 2 of circular No 13 of 2016 is replaced with new format of affidavit/undertaking. Secondly, undertaking as required under Sub para (iii) of para 4 of the Circular NO.29/2008 (as amended vide para (a) of Circular No A/2009 and vide para (b) of Circular No 12/2011) made part of the new affidavit/undertaking.
Thirdly, affidavit as required under rule 30 of Companies (General Provisions and Forms) Rule 1985 has been made part of the new affidavits/undertaking. Moreover, affidavit as required vide para 1 (c) of circular No 16 of 2016 is replaced with new affidavit by including new format. The affidavit as required under rule 30 of The Companies (General Provisions and Forms) Rules, 1985 has been made part of the new affidavit.
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