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Friday, November 15, 2024

Home Business SECP asks companies to file Beneficial Ownership Declaration

SECP asks companies to file Beneficial Ownership Declaration

by News desk
August 6, 2021
in Business

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Staff Report
Islamabad

The Securities and Exchange Commission of Pakistan (SECP) has asked companies to submit information of their ultimate beneficial owners (UBOs) through filing of Form 45, required under Section 123A of the Companies Act, 2017.

SECP will not impose any penalty on filing of overdue UBO Forms 45, if filed before August 13, 2021. The Companies (General Provision & Forms) Regulations, 2018, specify the procedure for companies to obtain.