Therefore, the Registrar can now constitute Appellate Bench / Benches and nominate any two Commissioners to hear the Appeals under Section 33 of the SECP Act, 1997.
The SECP has issued S.R.O.193 (I)/2019 here on Tuesday.
Following is the text of the notification issued here on Tuesday: S.R.O.193 (I)/2019.- In exercise of powers conferred by section 10 of the Securities and Exchange Commission of Pakistan Act, 1997 (XLII of 1997), the Securities and Exchange Commission of Pakistan (the Commission), in supersession of its notification S.R.O. 32(I)/2015 dated 14th January, 2015 subject to such conditions and limitations as it may from time to time impose, hereby delegates the following powers and functions of the Commission to the Registrar Appellate Bench, in the following manner:-
Power of the commission to constitute appellate bench/benches and nomination of commissioners to sit in the appellate bench/benches:
Relevant section of the Securities and Exchange Commission of Pakistan act, 1997, 33(2) and nature and functions delegated to the registrar appellate bench is to constitute Appellate Bench/Benches and nominate any two commissioners to hear the Appeals under Section 33 of the SECP Act, 1997.