The document outlines rules established by the Securities and Exchange Commission of Pakistan regarding asset-backed securitization. It defines key terms like special purpose vehicle, originator, and securitization. It establishes rules for SPVs regarding registration requirements, conditions of operation, obligations for transparency, and independence from originators. The Commission is granted powers to approve advertisements, vary approvals, and cancel registrations of non-compliant SPVs. Guidelines may also be issued by the Commission to govern securitization business activities.
That Section 3(19) of IBC 2016 defines "Insolvency Professional" and Section 5(27) defines "resolution professional" to include and Resolution Professional (RP) and Interim Resolution Professional(IRP) as the case may be, "5(27) "resolution professional", for the purposes of this Part, means an insolvency professional appointed to conduct the corporate insolvency resolution process 1 [or the prepackaged insolvency resolution process, as the case may be,] and includes an Interim Resolution Professional."
Cg & Role of SECP Securities and Exchange Commission of Pakistan ASAD ALI
The Securities and Exchange Commission of Pakistan (SECP) was set up in pursuance of the Securities and Exchange Commission of Pakistan Act, 1997. This Act institutionalized certain policy decisions relating to the constitution and structure, powers, and functions of the SECP, thereby giving it administrative authority and financial independence in carrying out its regulatory and statutory responsibilities.
The SECP became operational in January 1999 and has come a long way since then. It was initially concerned with the regulation of corporate sector and capital market. Over time, its mandate has expanded to include supervision and regulation of insurance companies, non-banking finance companies and private pensions. The SECP has also been entrusted with oversight of various external service providers to the corporate and financial sectors, including chartered accountants, credit rating agencies, corporate secretaries, brokers, surveyors etc. The challenge for the SECP has amplified manifold with its increased mandate.
That Section 3(19) of IBC 2016 defines "Insolvency Professional" and Section 5(27) defines "resolution professional" to include and Resolution Professional (RP) and Interim Resolution Professional(IRP) as the case may be, "5(27) "resolution professional", for the purposes of this Part, means an insolvency professional appointed to conduct the corporate insolvency resolution process 1 [or the prepackaged insolvency resolution process, as the case may be,] and includes an Interim Resolution Professional."
Cg & Role of SECP Securities and Exchange Commission of Pakistan ASAD ALI
The Securities and Exchange Commission of Pakistan (SECP) was set up in pursuance of the Securities and Exchange Commission of Pakistan Act, 1997. This Act institutionalized certain policy decisions relating to the constitution and structure, powers, and functions of the SECP, thereby giving it administrative authority and financial independence in carrying out its regulatory and statutory responsibilities.
The SECP became operational in January 1999 and has come a long way since then. It was initially concerned with the regulation of corporate sector and capital market. Over time, its mandate has expanded to include supervision and regulation of insurance companies, non-banking finance companies and private pensions. The SECP has also been entrusted with oversight of various external service providers to the corporate and financial sectors, including chartered accountants, credit rating agencies, corporate secretaries, brokers, surveyors etc. The challenge for the SECP has amplified manifold with its increased mandate.
Jimmy Gentry on 'Securities and Exchange Commission Filings" at Reynolds Business Journalism Week, Feb. 4-7, 2011.
Reynolds Center for Business Journalism, BusinessJournalism.org, Arizona State University's Walter Cronkite School of Journalism.
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DIRECTORATE OF INVESTMENT AND COMPANY ADMINISTRATION MYANMAR -DOWNLOAD FILE C...MYO AUNG Myanmar
http://www.dica.gov.mm/en
The Directorate of Investment and Company Administration (DICA) is in charge of handling company registrations for local and foreign businesses under the Companies Act. DICA also serves as a secretary to the Myanmar Investment Commission (MIC), which is the responsible body for investment applications.
MORE INFORMATION
DICA
MIC
DEPARTMENTAL COOPERATION TEAM
CONTACT
ARCHIVE FOR DOCUMENTS
NEWS
+951 657891
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Research Interests: Myanmar, Asset and investment valuation, and MYANMAR INVESTMENT LAW
Format of AOA (Article of Association) as per New Companies Act 2013mystartupvakil.com
Dear All
As you all know 98 sections of the Companies Act 2013 has been implemented w.e.f. 12th Sep 2013, therefore all ROC are asking changes in AOA. I am sharing a draft form of AOA. Kindly note that there is no change in MOA you can still use the old MOA.
1. Short title, extent and commencement.—(1) This Act may be called the Specific Relief Act, 1963.
(2) It extends to the whole of India except the State of Jammu and Kashmir.
(3) It shall come into force on such date 1 as the Central Government may, by notification in the Official Gazette, appoint.
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
1. SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN
----
Islamabad, the14th December, 1999
NOTIFICATION
S.R.O. 1338(I)/99.- In exercise of the powers conferred by section 506 of the
Companies Ordinance, 1984 (XLVII of 1984), read with clause (b) of section 43 of the
Securities and Exchange Commission of Pakistan Act, 1997 (XLVII of 1997), the
Securities and Exchange Policy Board hereby makes the following rules, the same
having been published previously as required by the proviso to sub-section (1) of the
said section 506, namely:-
THE COMPANIES (ASSET BACKED SECURITIZATION) RULES, 1999
1. Short title and commencement.-- (1) These rules may be called the
Companies (Asset Backed Securitization) Rules, 1999.
(2) They shall come into force at once.
2. Definitions.-- (1) In these rules, unless there is anything repugnant in the
subject or context.-
(a) quot;Commissionquot; means the Securities and Exchange Commission of
Pakistan.
(b) quot;connected personquot; in relation to a company means,-
(i) any person or company beneficially owning, directly or
indirectly, ten per cent or more of the share capital of that
company or able to exercise directly, or indirectly, ten per
cent or more of the voting rights in that company; or
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2. (ii) any person or company controlled by a person who meets
one or both of the descriptions given in sub-clause (i); or
(iii) any member of the group of which that company forms part;
or
(iv) any director or officer of that company or of any of its
connected persons specified in sub-clauses (i), (ii), or (iii);
(c) quot;constitutive documentsquot; means the principal documents governing
the formation of a Special Purpose Vehicle;
(d) quot;future receivablesquot; includes all such receivables against which
income may accrue or arise at a future date;
(e) quot;investorquot; means a person holding any asset backed securities
issued by a Special Purpose Vehicle;
(f) quot;offering documentquot; means documents containing information on a
security calculated to invite offers for the purchase of such security;
(g) quot;Ordinancequot; means the Companies Ordinance, 1984 (XLVII of
1984);
(h) quot;Originatorquot; means a person who transfers to a Special Purpose
Vehicle any assets in the form of present or future receivables as a
consequence of Securitization;
(i) quot;Securitizationquot; means a process whereby any Special Purpose
Vehicle raises funds by issue of Term Finance Certificates or any
other instruments with the approval of the Commission, for such
purpose and uses such funds by making payment to the Originator
and through such process acquires the title, property or right in the
receivables or other assets in the form of actionable claims;
(j) quot;Special Purpose Vehiclequot; means a special purpose vehicle
registered by the Commission for the purpose of Securitization;
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3. (2) All other terms and expressions used but not defined in these rules shall
have the same meanings as are assigned to them in the Ordinance.
3. Prohibition to commence business without registration.-- No person shall
commence business as a Special Purpose Vehicle unless it is registered with the
Commission under these rules.
4. Eligibility for registration.-- A person proposing to commence business as a
Special Purpose Vehicle shall be eligible for registration under these rules if,-
(a) (i) it is registered as a public limited company under the
Ordinance having a paid up capital of not less than one
hundred thousand rupees; or
(ii) it is a trust duly formed under the Trusts Act, 1882 (II of
1882); or
(iii) it is a body corporate formed under any law for the time
being in force and owned or controlled, whether directly or
through a company or corporation, by the Federal
Government or a Provincial Government;
(b) no director, officer or employee of such person has been adjudged
as insolvent or has suspended payment or has compounded with
his creditors or has been convicted of fraud or breach of trust or of
an offence involving moral turpitude; and
(c) the promoters, directors and trustees of such person are, in the
opinion of the Commission, persons of means and integrity and
have special knowledge and experience of matters to be dealt with
by a Special Purpose Vehicle.
5. Registration.-- (1) A person eligible for registration as Special Purpose Vehicle
may make an application to the Commission for registration under these rules in
such form and with such documents, as the Commission may notify.
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4. (2) The Commission, if it is satisfied after making such inquiry and after
obtaining such information as may be considered necessary, may grant a
certificate of registration to such person on such conditions as may be deemed
necessary.
6. Cancellation of registration.-- (1) Where the Commission is of the opinion
that--
(a) a Special Purpose Vehicle has contravened or failed to comply with any
provisions of the Ordinance, or has otherwise neglected or failed to
comply with any requirement of these rules or has failed or neglected to
carry out its duties in accordance with law; or
(b) if a Special Purpose Vehicle fails to make a public offering within such
time frame and in such manner as may be specified by the Commission
while granting the certificate of registration,
and the Commission is satisfied that it would be in the public interest so to do,
the Commission may on its own motion, or on the application of the investors
holding not less than ten percent of the securities issued by such Special
Purpose Vehicle, by order in writing, cancel the registration of the Special
Purpose Vehicle:
Provided that no such order shall be made without giving the Special
Purpose Vehicle an opportunity of being heard.
(2) If a Special Purpose Vehicle fails to make a public offering within such
time frame as may be specified by the Commission while granting the certificate
of registration, the Commission may, after affording a reasonable opportunity of
be heard by the such Special Purpose Vehicle, cancel its registration.
(3) If the registration of a Special Purpose Vehicle is cancelled under sub-rule
(1), or, as the case may be, under sub-rule (2), the Commission shall appoint an
administrator to manage the business of the Special Purpose Vehicle.
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5. 7. Conditions of Operation.-- No Special Purpose Vehicle shall, --
(a) merge with, acquire or take over any other company or business,
unless it has obtained the prior approval of the Commission in
writing to the scheme of such merger, acquisition or take-over;
(b) pledge any of the assets held or beneficially owned by such
Special Purpose Vehicle except for the benefit of the investors;
(c) make a loan or advance money to any person except in connection
with its normal business;
(d) participate in a joint account with others in any transaction;
(e) apply any part of its assets to real estate except property for its own
use;
(f) make any investment with the purpose of having the effect of
vesting the management, or control, in the Special Purpose
Vehicle; and
(g) give guarantee, indemnity or security for any liability of a third party;
8. Obligations of Special Purpose Vehicle.-- A Special Purpose Vehicle shall --
(a) be obliged to manage its assets in the interest of the investors in
good faith and to the best of its ability and without gaining any
undue advantage for itself or any of its related parties, connected
persons or its officers;
(b) be responsible for the acts and omissions of all persons to whom it
may delegate any of its functions as manager as if they were its
own acts and omissions;
(c) keep at its registered office, proper books of accounts and records
to enable a complete and accurate view to be formed of its assets,
liabilities, income and expenditure;
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6. (d) prepare and transmit its annual report, together with a copy of the
balance sheet and profit and loss account, prepared in compliance
with the requirements set out in the Ordinance and the Schedules
thereto, and the auditor's report within three months of closing of
the accounting period to the investors;
(e) within two months of the close of the first half of its year of account,
prepare and transmit to the investors and the Commission a profit
and loss account for, and balance sheet as at the end of that half
year, whether audited or otherwise;
(f) keep a register of investors at its registered office;
(g) appoint an auditor or auditors who shall be a chartered accountant
within the meaning of the Chartered Accountants Ordinance, 1961
(X of 1961), in accordance with the relevant provisions of the
Ordinance; provided that the auditors so appointed shall be a
person other than the auditor of the originator.
(h) furnish a copy of the annual report together with copies of its
balance sheet, profit and loss account and the auditor's report to
the Commission within three months of the close of the accounting
period together with a statement containing the following
information, namely;
(i) total number of investors; and
(ii) particulars of its directors, trustees or executives as the case
may be.
9. Advertisement and invitations.-- (1) Advertisements and other invitations to the
public to invest in a scheme, including public announcements, shall be submitted
to the Commission for approval prior to their issue.
(2) The approval so granted may be varied or withdrawn by the Commission
after giving an opportunity of being heard to the Special Purpose Vehicle.
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7. 10. Special Purpose Vehicle and the Originator to be independent.-- The
Originator shall not be a connected person to the Special Purpose Vehicle.
11. Guidelines.-- The Commission may, from time to time, issue guidelines for
carrying on the business of Securitization.
No.3(3)SECP/SM/99
(HIZBULLAH SIDDIQUI)
Deputy Chief
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