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In line with the directions of the Securities and Exchange Policy Board, Securities and Exchange Commission of Pakistan (SECP) has revised fee structure for registration of Modaraba companies, annual renewal and other regulated activities within the Modaraba sector. In this regard, the FBR has issued S R O 1434 (I)/2019 here on Tuesday to revise fees for different regulated activities. The revised fees would be applicable with immediate effect.

In exercise of the powers conferred under clause (g) of sub-section (1) of section 21 of the Securities and Exchange Commission of Pakistan Act, 1997, the Securities and Exchange Policy Board has specified following revised rate of fees:

The revised fee of application for registration of Modaraba Company (nonrefundable) would be Rs.100,000; renewal annually in the month of January (Nil fee); application for authorization to establish modaraba (nonrefundable fee) would be 0.25% of the nominal amount and revised fee for renewal annually in the month of January would be Nil.

The revised fee for filing, recording or registering any fact or document or fact required to be filed with, recorded by or registered with registrar would be Rs1,000 for each document. For filing, registering and recording document relating to a mortgage or charge required under the Ordinance, the revised fee would be Rs. 7,500 and revised fee for application for enquiry has been revised at Rs. 2,000.

The revised fee for claim against Modaraba Company by modaraba certificate holders referred to the tribunal would be Rs. 2,000 and revised fee for any other application before the tribunal other than an application by Registrar or before the registrar by any person would be Rs. 2,000.

The revised fee for inspection of records would be Rs200 and revised fee for certified copy of any document or extract thereof has been set at the rate of Rs. 20 per page or part thereof subject to a minimum of Rs 100.

Copyright Business Recorder, 2019