SECP Extends Validity Periods of CRS and CEES

ISLAMABAD  (November 02, 2010) – The Securities and Exchange Commission of Pakistan (SECP) has further extended the validity period of the Companies Regularisation Scheme (CRS) and the Companies Easy Exit Scheme (CEES) for another month, up to November 30, 2010, according to its Circular No 25 of 2010, its press release on Monday said.

These schemes were initially operative for three months–from July 1, 2010 to September 30, 2010.

On public demand, these schemes were initially extended for one month, up to October 31, 2010. Both schemes had received an overwhelming response from the corporate sector. Upon receipt of further demand for extension in validity period of the schemes from the corporate consultants, associations and relevant quarters, the SECP has further extended them for a month.

It may be added that the Circular No 25 is available on the SECP website and the fee structure in terms of S.R.O. 996 (I)/2010 of October 26, 2010 shall be applicable. The companies are advised to take advantage of the schemes by either regularising through filing of their overdue returns under the CRS or get their companies struck off the register under the CEES.

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