Section 21: Winding up of a stock exchange. A stock exchange shall not commence any proceedings — Stock Exchange (Corporatisation, Demutualization and Integration) Act, 2012

Current legal status not independently verified — Source: Pakistan Code (single official PDF, 2026-08-21). Whether this provision is still in force has not been independently verified.

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21. Winding up of a stock exchange. A stock exchange shall not commence any proceedings for winding up, whether voluntary or otherwise, without the prior written approval of the Commission: Provided that notwithstanding anything contained in any other law for the time being in force, the Commission shall have the power to take all necessary steps to rehabilitate a stock exchange that is facing financial or operational problems, in a manner as may be prescribed.

Effective date: 2012-01-01

Related sections

Section 20: Restriction on amendments to the Memorandum and Articles and further issue of Section 22: Prohibition on sale etc of assets of the stock exchange. No stock exchange shall sell Section 19: Powers of the Commission Section 23: Power to make regulations. The Commission, may, by notification in the official Gazette,Section 18: Power of the Commission to approve a scheme of integration Section 24: Power to give directions

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