ISLAMABAD, May 23: The Securities and Exchange Commission of Pakistan (SECP) has published a booklet “Company Mortgages and Charges Guide” to create awareness among companies, professionals and other stakeholders about the mortgage or charge business.
A statement issued here on Monday stated that under the law, the companies are required to timely file the particulars of a mortgage or charge with the registrar and notify any modification, rectification or satisfaction so as to ensure the security of loans and credit in the event of liquidation of such companies.
The booklet elaborates the mechanism and timeframe of the legal formalities to file the particulars of a mortgage or charge with the registrar as well as the requirements for modification, rectification and satisfaction thereof. The booklet is aimed at promoting principles of good governance in the corporate sector, developing comprehension and conformity to the corporate laws and safeguarding the interest of creditors and investors.
The booklet can be obtained from company registration offices of the SECP and downloaded from the SECP website — http://www.secp.gov.pk.
