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SECP shuts registration offices, facilitation centers amid coronavirus outbreak

SECP shuts registration offices, facilitation centers amid coronavirus outbreak

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) on Tuesday shut Companies Registration Offices (CROs) and facilitation centers till further instructions as preventive measures against coronavirus disease (COVID-19).

The regulator in a circular No. 13/2020 dated April 14, 2020 said that the current outbreak of on Tuesday coronavirus disease (COVID-19) in a substantial number of countries and the evolving situation in Pakistan had posed significant threat to workforce involved in public dealing.

In order to protect well-being of employees of the SECP deputed at the CROs and facilitation centers various preventive measures have been taken.

The SECP said that the CROs and facilitation centers shall remain closed, as per advice of the local authorities for public dealing, until further instructions.

The regulator further said that inspection of documents/records of companies as provided in regulation 19 of the Company (Registration Offices) Regulations, 2018, has been stopped. However, in dire need only online inspection may be allowed by respective CROs Incharges on case to case basis.

“As the companies are facing difficulties in responding to the queries / letters of Companies Registration Offices (CROs), the time limit of response has been enhanced to 30 days,” the SECP said.