security and exchange commission of pakistan

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(SECP Repealed Corporate Law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