Question

(A) Narrate the Composition, Functions, Powers and procedure of Security and Exchange policy Board.

(B) What are the Powers and Functions of Commission under Securities and Exchange Commission of Pakistan Act, 1997?

Answer 1

A) The Composition of Security and Exchange policy Board are:-

• The Secretary to the Government of Pakistan finance division
• The Secretary to the Government of Pakistan, law division
• The Secretary to the Government of Pakistan, commerce division.
• The Chairman of the Commission and a Deputy Governor of the State Bank of Pakistan

Functions of Security and Exchange policy Board are:-

• The securities industry
• Regulation of company and corporate sector and the protection of interest of investor
• Regulation of the insurance sector and the protection of the interest of policy holders.
• Measures to encourage self regulation by the stock exchange and NBFIs by specifying the standard for such self regulatory organisation.

Powers and procedure of Security and Exchange policy Board are:-

• The Board shall meet as often as it is neccessary in order to perform the objectives but not less than four times according to the calender year.
• The quoram of the meeting of the board shall be four member including the chairman.
• Subject to the provision of this act,the procedure and the conduct of business of the board shall be regulated by the regulation made by the board.

B)Powers of Commission under Securities and Exchange Commission of Pakistan Act, 1997 are:-

• The commission shall have all the powers necessary in order to perform its duties under the act.
• The commission may have regard to its function and to exercise its power efficiently, organize itself into division, or other sub division as it may consider.
• The commission may from time to time may identify the matter requiring board to make policy decision and make recommendation regarding policy to the board for its consideration.

Functions of Commission under Securities and Exchange Commission of Pakistan Act, 1997 are:-

• Enlisting and controlling crafted by stock representative, sub specialist, share move operator, financier to an issue, guarantor, portfolio chief and different middle people related with the securities exchange
• Managing issues of securities.
• Managing business stock exchange or stock market.
• Regulating and observing the exercises of any central depository and stock exchange clearing house.
• Conducting research in regard of any issue set out in this subsection.
• Managing considerable acqusition of offers and the mergers and take overs of organizations