S.R.O. (I)/2001. In exercise of powers conferred by section 41 of the Privatisation Commission Ordinance, 2000 (LII of 2000), read with section 43 thereof, the Privatisation Commission hereby makes the following regulations, namely :-
1. Short title and commencement. — (1) These regulations may be called the The Privatisation Commission (Authentication of Documents Under Common Seal) Regulations, 2001
(2) They shall come into force at once.
2. Definition. — (1) In these rules, unless there is anything repugnant in the subject or context :-
(a) “common seal” means the seal made and kept pursuant to section 43 of the ordinance;
(b) “documents” means the documents specified in regulation 5 of these regulations;
(c) “ordinance” means the Privatisation Commission Ordinance, 2000 (LII of 2000)
(d) “register” means the register kept in accordance with regulation 6 of these regulations.
(2) All other terms and expressions used, but not defined in these rules, shall have the same meanings as assigned to them in the Ordinance.
3. Custody of Seal. — The seal shall be kept in the custody of Deputy Secretary or any other officer as may be authorised by the Secretary from time to time;
4. Documents to be authenticated. – Following documents shall be executed under the common seal:-
(1) confirmed minutes of the meetings of Board of the Privatisation Commission as signed by the Chairman, Privatisation Commission;
(2) all agreements /deeds for transfer of property;
(3) any other document as may be specifically approved by the Secretary to be executed under common seal.
5. Manner for authentication of documents. – The manner for authentication of documents shall, if, and to the extent, the Commission deems necessary, include:-
(1) a register indicating the type of documents, name and signature of officer proposing the authentication, name and signatures of the officer by whom the documents are authenticated shall be maintained;
(2) the documents to be authenticated shall be entered in chronological order in the register;
(3) the register shall be inspected by the Secretary once a month.