SECP increases fees for electronic and physical submission of documents

The SEC has substantially increased the costs for the filing of papers by the various sorts of firms, both online and physically.

The Seventh Schedule for the Act of Companies, 2017 was released here on Monday by S.R.O. 808(I)/2021.

SECP has made amendments in the Seventh Schedule to the Companies Act 2017 to execute the powers given under subsection (2) of Section 507 read section 469 of the Companies Act, 2017, added.

The SECP has increased the charge for the registration of businesses under the revisions in the Companies Act. The registration cost for a business whose nominal share capital does not exceed Rs 100,000 is increased; the extra charge to be decided by amount of nominal share capital is the Registry for a corporation whose nominal share capital exceeds Rs 100,000.

Where the Fed is completely owned and announced in the official Gazette by the Federal Government to exempt from the payment fee a fee of Rs. 10,000 will be charged: The amount charged at the time of business registration must not exceed 40 million rupees for submission in electronic form and 50 million rupees for submission in physical form.

SECP also has an additional fee for the filing and recording of documents containing a charter/statute/memorandum and articles and others in connection with the registration of a foreign company; submission, registration or recording of all documents that notify, or modify or satisfy any particulars of, a mortgage or a debit, a commitment or other interest that a company has generated;

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