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The substantial shareholder or officer of a company having shareholding in a foreign company or body corporate shall report to the company his shareholding or any other interest as may be notified by the Securities and Exchange Commission of Pakistan (SECP) within 30 days of holding such position or interest.
According to the draft Companies (Compliance and Reporting) Regulations, 2017 issued by the SECP, the commission has explained the provision of Global Register of Beneficial Ownership. Subject to the requirements of the section 452, the substantial shareholder or officer of a company having shareholding in a foreign company or body corporate shall report to the company his shareholding or any other interest as may be notified by the Commission, as per Annexure C26 within thirty days of holding such position or interest.
Provided that for the purpose of this regulation, the term "other interest" means management control, voting rights in case of company limited by guarantee without share capital, holding position of chief executive officer, chairman or director, SECP said.
Provided further that for the purpose of this regulation, the term "officer" means director, chief executive officer, company secretary and chief financial officer.
The company shall submit all the information received by it, during the year to the registrar as per Annexure C27 along with payment of fee together with the annual return. In case the company is not required to file the annual return it shall only file Annexure C27.
The company shall report to the registrar the requisite information in terms of provisions of sub-section (3) of section 452 of the Companies Act as per Annexure-C28 along with payment of fee together with the annual return (4) The Commission shall keep record of the information in the Companies' Global Register of Beneficial Ownership as per Annexure-R5, SECP added.

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