27th lecture
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The document discusses the Securities and Exchange Commission of Pakistan (SECP), which is the corporate regulatory authority in Pakistan. It defines the SECP as the authority that controls corporate structures and observes corporate activities, taking appropriate action against violations of corporate law. The SECP was established under the Securities and Exchange Commission of Pakistan Act of 1997. It is headed in Islamabad and led by a chairman appointed by the federal government. The SECP regulates stock exchanges, brokers and investigates offenses under related ordinances. It also considers reforms to company, corporate and securities market laws.
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27th lecture
- 1. Objective To Learn 1. The SECP Subject: Company Law Standard: LL.B second year Topic: Authorities in Company MUNIR HUSSAIN KTK Lecturer UNIVERSITY LAW COLLEGE QUETTA www.facebook.com/pages/Corridor-to-Commercial-Law Definition: The authorities having controlling hand on the corporate structure, The authorities who is observing the corporate activities and take appropriate action on the violation of corporate law. (SECP Repealed Corporate Law Authority) Commission: Means the Securities and Exchange Commission of Pakistan Definition: Commission established under section 3 of the Securities and Exchange Commission of Pakistan Act, 1997 Head office: Islamabad Commissioner: A person who is appointed by Federal Government to carry out the functions under this Act. Appointment: Federal Government (not less than 5 and not more then 7 ) the majority of the commissioner will be from private sector Chairman: Is the Chief executive of the Commission Appointed by the Federal Government From the Commission Not for more than two consecutive term DISQUALIFICATION: if he has been convicted of an offence Involving moral turpitude If he has been or is adjudged insolvent If he is incapable of discharging his duties due to physical or mental unfitness If he being a member absent from the Two consecutive meeting without lawful Excuse Function of the commission: 1. what is directed by federal government 2. To direct matter to the policy board to make or consider any policy 3. To regulate the business of stock exchange and any other security market 4. Registering and regulating the conduct of stock exchange broker 5. To conduct investigation in any matter which is an offence under the ordinance 6. Considering and suggesting reforms of the law relating to companies ,bodies corporate and security market 7. To give approval to all public companies to place security in stock exchange etc. Qualifications Men of High Morality Expert Experience Law, Accountancy, Economic, Finance, Security Market and Industry SECP Security and exchange commission of Pakistan Act 1997