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ACT NO. XXII OF 2015

STOCK EXCHANGES (CORPORATIZATION, DEMUTUALIZATION AND INTEGRATION) (AMENDMENT) ACT, 2015

An Act to amend the Stock Exchanges (Corporatization, Demutualization and Integration) Act, 2012

[Gazette of Pakistan, Extraordinary, Part-I, 16th December, 2015]

No. F. 22(30)/2015-Legis., dated 15.12.2015.–The following Act of Majlis-e-Shoora (Parliament) received the assent of the President on the 10th December, 2015 and is hereby published for general information:–

WHEREAS it is expedient to amend the Stock Exchanges (Corporatization, Demutualization and Integration) Act, 2012 (XV of 2012), for purposes hereinafter appearing;

It is hereby enacted as follows:–

1.  Short title and commencement.–(1) This Act may be called the Stock Exchanges (Corporatization, Demutualization and Integration) (Amendment) Act, 2015.

2.  It shall come into force at once.

3.  Amendment of Section 16, Act XV of 2012.–In the Stock-Exchanges (Corporatization, Demutualization and Integration) Act, 2012 (XV of 2012), in Section 16,–

(a)      in sub-section (4), for the expression “until 30th June, 2010” the words “within a period of four years from the commencement of this Act” shall be substituted;

(b)      in sub-section (5), for the expression “1st July, 2010 till 31st December, 2019”, the expression “the expiry of period specified in sub-section (4)” shall be substituted and after the word “issuance” the word “of and after the word “year” the words “for the period of nine years” shall be inserted; and

(c)      In sub-section (6), for the figure “2019” the expression “the expiry of the period specified in sub-section (5)” shall be substituted.