The Securities & Exchange Commission of Pakistan (SECP) has published a booklet "Company Mortgages and Charges Guide" to create awareness among companies, professionals and other stakeholders about the mortgage or charge business. Under the law, companies are required to timely file particulars of a mortgage or charge with the registrar and notify any modification, rectification or satisfaction so as to ensure the security of loans and credit in the event of liquidation of such companies. The booklet elaborates mechanism and timeframe of legal formalities to file particulars of a mortgage or charge with the registrar as well as requirements for modification, rectification and satisfaction, thereof.
The booklet will promote principles of good governance in the corporate sector, development comprehension and conformity to the corporate laws and safeguard interests of creditors and investors.
It can be obtained from company registration offices (CROs) of the SECP and downloaded form the SECP website: www.secp.gov.pk.
Through publication of such booklets, the commission endeavours to build, reinforce and uplift virtues of corporate compliance in the management of the corporate entities.