All Authorized Dealers
In Foreign Exchange,

Dear Sirs,

ISSUE AND TRANSFER OF SECURITIES IN FAVOUR OF NON-RESIDENTS-AMENDMENT

Authorized Dealers are advised that the following amendments have been made in Chapter-XX of the Foreign Exchange Manual (Seventh Edition – 1992):-

1. Sub-par (iv) of Para-6(a) (I) will be substituted as under:-
   "iv) – a firm (including Partnership & Trust) registered outside Pakistan and a company or other body corporate (‘Company’) incorporated outside Pakistan (excluding branches in Pakistan of such firms and companies and a firm/company owned or controlled by a foreign government);"

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2. In Sub-para (g) of Para-6 words "rupee denominated" will be added in the 1^st line after word "of".

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