Conversion Process And Winding Up Of The Investment Company Sample Clauses

Conversion Process And Winding Up Of The Investment Company. The Management Company and the Trustee have executed this Trust Deed with the approval of the SECP and shall get the same registered with the Sub-Registrar. The Management Company shall get the Open End Scheme registered with the SECP as a Notified Entity under the Regulations and prepare and publish an Offering Document after seeking approval from the SECP. GASSFL and The Management Company and the Trustee shall also execute such other documents and deeds, as may be required for conversion of GASSLF into an Open End Scheme. The retiring custodian of GASSFL, the proposed trustee of the Fund and the Management Company has agreed to transfer the Fund property from GASSFL to the Fund in the name of Trustee. The status of bank and other accounts would be changed or new accounts would be opened to enable the Trustee to acquire ownership of Trust Property. The Trust Property would be transferred during the Book Closure meant for conversion purposes. The Management Company shall immediately upon transfer of all the deposited property, assets & liabilities along with allied balances to the trustee of Fund, , appoint auditors (other than the existing auditors of the GASSFL, or existing auditors of the custodian or of the Trustee) from amongst the panel of auditors designated as "A"” category by State Bank of Pakistan. The auditors so appointed shall report that all the deposited property, assets & liabilities along with allied balances on Effective Date are accurately and properly transferred to the Trustee of the Fund by the custodian of GASSFL and GASSFL is a defunct company. The report of the auditor shall be submitted by the Management Company to this office within 30 Business Days from the appointment of auditors. After the completion of the conversion process and upon receipt of the auditor’s report, the Management Company shall ensure that GASSFL’s name shall be struck off by the Registrar of Companies, Company Registration Office from the Register of Companies under Section 425 or Section 426 of the Companies Act 2017.
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Related to Conversion Process And Winding Up Of The Investment Company

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