The Securities and Exchange Commission of Pakistan Act, 1997

Current legal status not independently verified. Source: Pakistan Code (single official PDF, 2026-08-21). The text below is the official Pakistan Code text as retrieved; whether it is still in force, or has since been amended or repealed, has not been independently checked.

WHEREAS it is expedient to provide for the establishment of the Securities and Exchange Commission of Pakistan for the beneficial regulation of the capital markets, superintendence and control of corporate entities and for matters connected therewith and incidental thereto; It is hereby enacted as follows: — PART I PRELIMINARY

• Section 1: Short title and commencement
• Section 2: Definitions. 1[(1)] In this Act, unless there is anything repugnant in the subject or context,
• Section 3: Establishment of the Commission
• Section 4: Head Office. The head office of the Commission shall be in Islamabad. The Commission
• Section 5: The Commissioners
• Section 6: The Chairman
• Section 6A: The Acting Chairman. At any time when position of the Chairman is vacant or the
• Section 7: Term of office of the Commissioners
• Section 8: Appointment of employees of the Commission
• Section 9: Appointment of advisers and consultants
• Section 10: Delegation of the Commission's functions or powers
• Section 11: The Commission to furnish information. The Commission shall furnish to the Federal
• Section 11A: Committees of the Commission. The Commission may constitute committees,
• Section 12: The Securities and Exchange Policy Board
• Section 13: Procedure of the Board
• Section 14: Board may invite others to meetings. The Board may invite any person to attend any of
• Section 15: Committees of the Board
• Section 16: Disclosure of interest by Commissioners and Members
• Section 17: Notification of interest by others
• Section 18: Disqualification of Members and Commissioners. No person shall be appointed or
• Section 19: Removal, resignation and vacancies
• Section 20: Powers and functions of the Commission
• Section 21: Functions and powers of the Board
• Section 22: Supplementary provisions
• Section 23: The Fund
• Section 24: Expenditure to be charged on the Fund
• Section 25: Annual report and accounts
• Section 26: Power to obtain finance, borrow money and receive grants
• Section 27: Investment
• Section 28: Bank Accounts. The Commission may [* * *] open and maintain its accounts in rupees
• Section 28A: Inspection
• Section 29: Investigation and proceedings by the Commission
• Section 30: Powers of the investigating officers of the Commission
• Section 31: Forcible entry
• Section 31A: Power of the Commission to call for information
• Section 32: Power to call for examination
• Section 32A: Implementation of orders of the Commission. The Commission may issue such
• Section 32B: Review
• Section 33: Appeal to the Appellate Bench of the Commission.­ 1[(1) Except as otherwise provided
• Section 34: Appeal to the Court
• Section 35: Obligation of confidentiality
• Section 36: Permitted disclosure. Nothing in section 35 shall preclude a person from:
• Section 36A: Scope of powers under this Part
• Section 36AA: Power to give directions, circulars, code, guidelines etc
• Section 36B: Restriction of business
• Section 36BB: Power to call for information
• Section 36C: Self­regulatory organizations. A person who wishes to carry on activities as self­
• Section 36CC: Penalty, sanctions or revocation of registration
• Section 36D: Registration of self­regulatory organizations
• Section 36E: Regulations of self­regulatory organization
• Section 36F: Maintenance and inspection of records
• Section 36G: Powers of the Commission to issue directions to self­regulatory organization
• Section 36H: Definitions. In this Part,
• Section 36I: Establishment of AOB
• Section 36J: Members of AOB
• Section 36K: Functions of AOB. Notwithstanding anything contained in any other law, AOB shall
• Section 36L: Appointment of employees of AOB
• Section 36M: Disclosure of interest
• Section 36N: Disqualification of members. No person shall be appointed or continue as a member of
• Section 36O: Removal, resignation and vacancies
• Section 36P: Fund of AOB
• Section 36Q: Conduct of business of AOB. AOB shall observe such procedure as may be specified to
• Section 36R: Accounts and Audit
• Section 36S: Annual report
• Section 36T: Registration and deregistration of audit firm
• Section 36U: Inspection and proceedings by AOB
• Section 36V: Appeal to the Court
• Section 36W: Register of audit firms
• Section 36X: AOB may seek assistance
• Section 36Y: Registration and supervision fees
• Section 36Z: Power to make regulations
• Section 37: Cognizance of offences
• Section 38: Prosecution of offences by the Commission
• Section 38A: Opportunity of hearing to the Commission in stay matters
• Section 39: Power to make rules
• Section 40: Power to make regulations
• Section 40A: Penalty for violation of rules 4[,] regulations 4[, directives and notification]
• Section 40AA: Fines and penalties to be credited to the Federal Consolidated Fund
• Section 40B: Power of the Commission to issue directives, circulars, guidelines, etc. The
• Section 41: Common seal. The Commission shall have a common seal and such seal shall be kept in
• Section 41A: Standard of proof
• Section 41B: Inquiry, investigation and other proceedings in respect of regulated persons
• Section 42: Public servants
• Section 42A: Indemnity of the Commission, Chairman, Commissioners, employees and
• Section 42B: Recovery of penalties
• Section 42C: Proof of documents by production of certified copies
• Section 42D: Cooperation and assistance to foreign regulatory authorities
• Section 42E: Power to amend the Schedule
• Section 43: Dissolution of the Authority. The Authority is hereby 1dissolved and at all times
• Section 43A: Abolition of Department of Insurance
• Section 44: Savings. Save as otherwise provided in this Act, nothing in this Act shall affect or be
• Section 45: Act to override other laws. The provisions of this Act shall have effect notwithstanding
• THE SCHEDULE: THE SCHEDULE