Section 10: Establishment of entities

10. Establishment of entities.___ (1) Subject to the approval of the investment committee and the Board, the Fund may establish entities that are wholly owned by it, or acquire shares in other entities and increase their capital, in accordance with the investment plan proposed by the chief executive officer. (2) The entities established or acquired in this manner shall be governed by the laws for the time being in force as applicable in their respective jurisdiction of incorporation and such entities shall not be subject to Pakistani governmental auditing rules, regulations, maximum wage or similar laws. PART III THE SUPERVISORY COUNCIL

Effective date: 2023-08-04

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