Islamabad: To facilitate the corporate sector`s compliance with applicable regulatory requirements, the Securities and Exchange Commission of Pakistan (SECP) has published the draft Companies Regulations, 2022. It is a consolidated version of nine separate ordinances previously set out in section 512 of the Companies Act 2017. The codified regulations aim to standardize the forms/applications submitted by businesses and to make the regulatory system more understandable and understandable. The proposed Regulations were posted on SECP`s website for public comment prior to final publication. Following an in-depth review of the existing rules, several procedures have been simplified. To make it easier for end users, several forms were merged, resulting in a significant reduction in the number of existing forms, from 75 to just 27. The proposed project includes regulatory requirements for company formation, compliance and post-incorporation reporting, licensing under section 42 of the Companies Act 2017, continued issuance of share capital, group registration, easy exit of companies and registration of intermediaries. Today, companies only need 27 forms instead of the previous 75.