SECP Fee Structure Revised: Now It Costs More to Form or Wind Up Companies In Pakistan

Federal government has revised upwards the fee structure of the Securities and Exchange Commission of Pakistan (SECP) and decided to discourage manual fee submission by charging lower fee for online submission of applications.

In this regard, the SECP has issued notification S.R.O.119 (I)/2009 here on Monday.

For registration of a company whose nominal share capital does not exceed Rs 100,000, a fee of Rs 2500 for online submission and Rs 5000 for manual submission will be charged. For registration of a company whose nominal share capital exceeds Rs 100,000, the additional fee to be determined according to the amount of nominal share capital as follows, namely:

For every Rs 100,000 of nominal share capital or part of Rs 100,000 after the first Rs 100,000, up to Rs 5 million, a fee of Rs 500 for online submission and Rs 1000 for manual submission would be charged.

For every Rs 100,000 of nominal share capital or part of Rs 100,000, after the first Rs 5 million rupees up to Rs 5 billion a fee of Rs 250 and Rs 100 would be applicable.

For registration of an increase in the share capital made after the first registration of the company, an amount equal to the difference between the amount which would have been payable on registration of the company by reference to its capital as increased and the amount which would have been payable by reference to its capital immediately before the increase, calculated at the rates given under clause 2.

“Explanation” – For the purpose of calculation of fee for registration of an increase in the share capital of the company, which was originally formed on the basis of physical submission now opting online submission, the difference of fee, shall be calculated on the basis of rates applicable to a company treating as formed on online submission.

For registration of any existing company, except such companies as are by the ordinance exempted from payment of fees in respect of registration under this ordinance, the same fee is charged as for registering a new company.

For filing, registering or recording any document by the ordinance required or authorised to be filed, registered or recorded, other than the particulars of mortgage/charge or other interest created by a company; or the memorandum or the abstract required to be filed with the registrar by a receiver or the statement or other document required to be filed with registrar by the liquidator in a winding up, a fee of Rs 500 for online and Rs 1000 for manual submission would be levied.

For filing, registering or recording a document relating to a mortgage or charge required under the Ordinance, a fee of Rs 5000 for online and Rs 7500 for manual submission.

For making a record of any fact by this Ordinance authorised or required to be recorded by the registrar, a fee of Rs 200 for online and Rs 500 for manual submission.

For registration of a new company, a fee of Rs 20,000 for online and Rs 30,000 for manual submission is to be charged.

For registration of any existing company, except such a company, which is, by the Ordinance, exempted from payment of fees in respect of registration under the Ordinance, the same fee as is charged for registering a new company.

For filing, registering or recording any document by the Ordinance required or authorised to be filed, other than the memorandum or the abstract required to be filed with the registrar by a receiver or the statement or other document required to be filed with the registrar by the liquidator in a winding up a fee of Rs 500 for online and Rs.1000 for manual submission.

For making a record of any fact by this Ordinance authorised or required to be recorded by the registrar, a fee of Rs 200 for online and Rs 500 for manual submission will be charged.

For filing, registering or recording any document by this Ordinance required or authorised to be filed, registered or required, other than the memorandum or the abstract required to be filed with the registrar by a receiver or the statement or other document required to be filed with the registrar by the liquidator in winding up, a fee of Rs 500 for online and Rs 1000 for manual submission would be charged.

From Daily Times