Regln 4 Brokers and Agents Registration Rules, 2001, R 8 and Third Schedule Implementation of Fine Reagan Enforcement 4 of the Central Depository Company of Pakistan Regulations 2002 provided that the vacancy was not valid, but during the inquiry officer's inquiry, 164 instances of empty sale were disclosed that the rules for registering brokers and agents. Under Rule 8 of 2001, where the Securities and Exchange Commission was of the opinion that a broker failed to comply with any of the Securities and Exchange Commission of Pakistan Act, 1997 or the Securities and Exchange Ordinance, 1969. Or any rules or directive made thereunder; or violated the Exchange rules and regulations and failed to comply with any requirements of the Code of Conduct set forth in the Third Schedule to the Brokers and Agents Registration 2001 Could, in the public interest, take action under R8 (A). (B) The company was fined Rs 50,000 under the above rules by selling the vacancy by violating the rules and regulations.
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