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CHAPTER XX
SECURITIES
1. Definition.
2. Import of Securities.
3. Export of Foreign Securities.
4. Export of Pakistani Securities.
5. Transfer of Securities to Non-Residents.
6. General Exemptions.
(a) Issue/Transfer of Pakistani Securities to Persons Resident outside Pakistan on Repatriation Basis.
(b) Transfer of Securities from a Person Resident outside Pakistan on Repatriation Basis to another Person Resident outside Pakistan.
(c) Exemption from Restrictions of Section 18(1) of FER Act.
(d) Issue of Securities and NIT Units to Persons Resident outside Pakistan on Non-Repatriation Basis.
(e) Sale of Securities held by a Person Resident outside Pakistan on Non-Repatriation Basis to a Person Resident in or outside Pakistan.
(f) (i) Issue of Government Securities to Foreign Nationals Resident in or outside Pakistan on Repatriation Basis.
(ii) Issue of NIT Units to Overseas Pakistanis and to Foreign Nationals on Repatriation Basis.
(g) Issue/Transfer of Registered Corporate Debt Instruments to persons Resident outside Pakistan on Repatriation Basis
7. (a),(b) and (c) Procedure for Issue of Shares. (d) & (e) Export of Shares & Remittance of Dividend/Disinvestment Proceeds.
8.
(a) Trading of Quoted Shares by Non-Residents.
(b) Trading of Federal Investment Bonds & Treasury Bills in the Secondary Market.
9. Issue and Encashment of Foreign Exchange Bearer Certificates/ U.S. Dollar Bearer Certificates/Five Years Foreign Currency Bearer Certificates.
10. Issue of Foreign Exchange against Encashment of Foreign Exchange Bearer Certificates/U.S. Dollar Bearer Certificates/Five Years Foreign Currency Bearer Certificates.
11. Export and Transfer of Foreign Exchange Bearer Certificates/U.S. Dollar Bearer Certificates/Five Years Foreign Currency Bearer Certificates.
12. Transfers between Registers.
13.
(a) Holding and Disposal of Foreign Securities.
(b) Investment Aboard by Resident Pakistanis
.
14. Registration of Foreign Securities.
15. Under-writing of Shares, Term Certificates and Modaraba Certificates by Foreign Banks.
16. Foreign controlled investment banks incorporated in Pakistan.
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