SECP allows corporate sector to pay fee through online modes

The Securities and Exchange Commission of Pakistan (SECP) has allowed corporate sector to pay fee pertaining to several matters under Seventh Schedule (fee payments by companies) of the Companies Act through credit card, debit card, bank challans and other modes of online payment made available by the Commission.
The SECP has issued draft Companies (General Provisions and Forms) Regulations, 2018 through an SRO 758 (I)/2018.
According to the regulations, the fee required to be paid to the Commission and the registrar in respect of the several matters under Seventh Schedule of the Act, may be paid through credit card; or debit card; or other mode of online payment made available by the Commission; or challan in the designated branch of the bank.
Except as otherwise provided in the Companies Act, all fees, charges and other sums payable, paid or realized under the Act or any rules or regulations made or notification issued there under or under any order of the federal government, the Commission or the registrar under the Act or the regulations shall be accounted for to the Commission and deposited with a designated bank branch through any mode of payment specified by the Commission for the purpose and the original receipt thereof shall be furnished to the officer of the Commission or the registrar concerned, as the case may be, along with the document or application for which the same is payable or the other communication intimating payment.
Provided in case of online submission, the paid challan or other evidence of payment of fee shall not be required to be furnished to the officer of the Commission or the registrar unless specifically demanded by the officer of the Commission or the registrar.
An application or any document submitted to the Commission or the registrar in pursuance to or for the purposes of any of the provisions of the Act shall, unless otherwise proved, be deemed to have been received or delivered to it or him on the day on which it is received by its or his office, the SECP added.
The SECP has also issued procedure for circulation of reports and notices by companies. Unless otherwise provided by the Act or these regulations, any report, notice, statement, circular or other document required under the Act or any rule or regulations made there under to be circulated, transmitted or forwarded to the members debenture-holders or creditors shall, unless it is delivered against an acknowledgement be served on a member at his registered address or, if he has no registered address in Pakistan, at the address supplied by him to the company for the giving of notices to him against an acknowledgement or by post or courier service or through electronic means or in any other manner as may be notified by the Commission.
Subject to the provisions of section 32 of the Act, the company shall submit petition to the Commission for amendment in memorandum pursuant to clause (a) or clause (c) of sub-section (1) of section 32 as per Form 5, within sixty days from the date of special resolution, the SECP specified.