What is SECP Capital Issues Wing all about?

1 ANSWERS

1. Guest330
   

   The Capital Issues Wing (CIW) deals with the cases regarding approval of prospectuses for public issue/offer of securities. The prospectus of any company inviting public subscription for its securities is required to be approved by the SECP under the Companies Ordinance, 1984 prior to its issue, circulation and publication. The CIW also processes cases regarding issue of securities outside Pakistan under Section 62-A of the Companies Ordinance, 1984, registration of Special Purpose Vehicles (SPV) under the Companies (Asset Backed Securitization) Rules, 1999, cases requiring enforcement actions under the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Ordinance, 2002, relaxation from the requirements of the Companies (Issue of Capital) Rules, 1996 pertaining to Initial Public Offerings and cases reported under Section 18-A of the Securities and Exchange Ordinance, 1969 which prohibits submission of more than one application by a single applicant for subscription of shares.

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