Section 18A Securities and Exchange Commission of Pakistan Act (XLII of 1997), section 33 Appeals to fines against Habib Bank common shares for the submission of multiple applications for shares of companies offered to the public privatized the general public. Multiple requests for the purchase of the aforesaid shares in violation of Section 18A of the Securities and Exchange Ordinance, 1969, submitted by the Commission Appellant, have led to the submission of numerous petitions stating that appellant was aware of the relevant provisions of the law. , The appellant also requested that his error be forgiven and The subscription should be refunded or the shares allocated to it. Section 18A of the Securities and Exchange Ordinance, 1969, was subject to two interpretations. The first one was that the money received against all requests could be forfeited, where there was more than one request while the second interpretation was that more than one request. Request money should be forfeited In the case of multiple applications, the amount (if the application was successful) for an application or shareholder for the application should not be confiscated where an investor has proved / proved that he / she has done well What is or is not a violation was not deliberately and intentionally committed, all requests Subscription for money should be returned or a person shares an application, if it is successful and if the refund is requested not to process a petition in the present case. Well and this violation was deliberately and deliberately because the instructions in this regard are clearly stated on the form.
Related judgments — Securities and Exchange Commission of Pakistan, 2010
