ISLAMABAD – Securities and Exchange Commission of Pakistan has approved theForeign Companies Regulations, 2017 and a number of regulations concerningcapital market, insurance and corporate governance.

The approval was given at a meeting of the Commission in Islamabad today.

Foreign Companies Regulations, 2017 primarily cover the areas pertaining toname reservation of foreign companies, registration of certain documents offoreign companies and provisions regarding accounts and financialstatements.

The procedure and filing requirements for registration of documents of aforeign company have been amended suitably and with clarity to make thesesimpler.

The Commission also approved the proposed amendments to the Motor VehiclesAct, 1939, for public consultation.

It also approved publication of the draft General Takaful AccountingRegulations, 2018, to elicit public opinion.

The SECP deliberated in detail on segregation of non-core functions ofCentral Depository Company and approved amendments in its regulations toremove the restriction on CDC to segregate its non-core business.

The Commission also unanimously approved for publishing the draftamendments to the Real Estate Investment Trust Regulations, 2015 in orderto promote investment in real estate through capital market.