KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has announced that its amnesty schemes for the corporate sector will expire on December 31.
The Companies Regularisation Scheme (CRS) and the Companies Easy Exit Scheme (CEES) were initially operative for three months from July to September. On the demand of stakeholders, the deadline of the schemes was extended initially to October and then to November. Now the deadline ends on December 31, the SECP said on Tuesday.
The SECP advised companies to take benefit from the schemes within the stipulated time, by either regularising through filing their overdue returns under the CRS or striking their companies off the register under the CEES.
“This is the last and final extension and no further extension will be granted. A strict action will be initiated against defaulting companies, after the close of the schemes,” the SECP said.
Published in The Express Tribune, December 29th, 2010.
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