SHC bars Tahir from acting as Chairman SECP

A division bench of Sindh High Court (SHC) has barred Tahir Mehmood, who was appointed as Acting Chairman Securities and Exchange Commission of Pakistan (SECP) on April 25, 2013, from holding the position. The order came in response to a petition filed by Rana Mustafa, a Deputy Director in the SECP who challenged the appointment of Tahir Mehmood as acting chairman SECP on the grounds that such a position did not exist in the SECP Act, and that no rigorous procedure was adopted by the Caretaker Government before issuing the impugned notification in this regard.