IMMIGRATION AND NATIONALITY

We have an absolutely vibrant global immigration law practice.

Our immigration practice deals with all aspects of immigration, nationality, human rights and European Union law. We also have a particular specialism in relation to work related to the EU Citizens’ Directive. We excel at representing clients and producing results for our immigration clients. To be sure, our longstanding immigration law practice is the envy of the region.

Understanding the constantly changing fabric of immigration law requires sound advice. So let us be your guide to finding the right direction to get your visa, settlement or citizenship needs sorted out.

We have a niche in business related immigration and provide services to corporate and high net worth clients on investor and entrepreneur visas under the points-based system (PBS). We undertake instructions in the Tier 1 space of the PBS and act routinely for Tier 1 (Investor), Tier 1 (Entrepreneur) and Tier 1 (Exceptional Talent) applicants.

We also undertake work under Tier 2, Tier 4 and Tier 5 of the PBS. We are specialists in making entry clearance applications for spouses, dependant relatives and children in the context of the Immigration Rules in the UK. We also work in all areas of British nationality law and are experts on historic claims to British nationality.

Please visit our globally celebrated Immigration Law Blog for updates on a wealth of immigration law commentary and case law analysis. Topics include commentary on Luxembourg, Strasbourg and UK case law, analysis of the immigration rules and exposition of emerging legal developments in the vast field of immigration law.

We also accept instructions in immigration work relating to Australia, Brazil, Canada, Ireland, Thailand, US, New Zealand and numerous other countries.

As a part of our human rights and refugee law work, in collaboration with the Pakistan Institute of International Affairs, International Thai Foundation and Sarwar Hasan Foundation we are setting up a mechanism to lobby the Pakistani state to sign the Refugee Convention 1951.

In addition to our strengths in UK and EU immigration, we also specialise in US immigration in relation to:

  • Intra-company transfers
  • Investors
  • Business visitors
  • Unmarried partners
  • Airline employees
  • Diplomats
  • Students
  • Professional workers
  • Journalists
  • Individuals of extraordinary ability
  • Athletes, artists and entertainers
  • Interns and trainees
  • Domestic workers
  • Applications to US embassies worldwide
  • Visa application interviews
  • Treaty NAFTA visas (Canadian and Mexican nationals)
  • Spouses
  • Fiancés/fiancées
  • Unaccompanied children
  • Green cards
  • Naturalisation
  • Waivers of inadmissibility
  • ESTA application denial

CONDUCT COSTS

Conduct costs metrics are essential to ranking and understanding Pakistan’s banking industry.

As measured by the CCP Research Foundation, in the aftermath of the collapse of Lehman Brothers seven years ago, global “conduct costs” are approaching stratospheric levels and are presently estimated to be $300 billion. But none of the data reflected in the final sum can be traced to Pakistan – a market economy whose legal system closely resembles the English legal system, despite the politically retrograde Islamisation of the 1980s – in clear and unambiguous terms. As a law cutting edge firm, we have the ambition of articulating a conduct costs’ model in Pakistan, a developing country which is in need of such analysis so that its 192 million people are put in a position to make informed choices about banking and financial services.

In constitutional terms, a sound basis for the study of conduct costs can be found in Articles 37 and 38 of the Constitution of Pakistan 1973. Laid down in Part II: Fundamental Rights and Principles of Policy, Chapter 2: Principles of Policy of the Constitution, Article 37 requires the state to promote social justice and Article 38 imposes on the state a duty to promote the people’s social and economic well-being. On an alternative level, in The End of Alchemy, Professor Mervyn King relies on all his experience as a central banker to explain the wider dynamics of the global economy. He invites us to embrace the underlying theoretical argument that banks are “the Achilles heel of capitalism”. This attractive proposition is as advantageous a place to begin a study of the banks in Pakistan as it is in the west.

In a country which is plagued by corruption and ranks poorly in that regard – i.e. 126 out of 174 on Transparency International’s Corruption Perceptions Index 2014 – it is more than arguable that the promotion of social justice and economic well-being require an analysis which reveals the exact nature of “bad” bank behaviour to the public. Indeed, strong grounds exists for constitutional justice to be imparted to the people of Pakistan by allowing them access to a “league table” for banking for their country. It will serve towards their empowerment and the bare bones of such a study can be identified in the activities of the regulatory bodies discussed below.

Of course, so as to ensure that the exercise does not descend into bank bashing, “good” behaviour (if any) to help the environment or other inequalities in Pakistan, which is mostly poor, can also be factored into our analysis. For example, a press release from 2014 informs us that:

As part of its commitment to education and social welfare in the MENA region, Deutsche Bank’s Middle East Foundation is partnering with The Citizens Foundation in Pakistan to set up its third “Deutsche Bank Campus” in the rural area of Razi Dero, Gambat, District Khairpur.

This new secondary unit will be equipped to teach graduates from three primary campuses of The Citizens Foundation which are located at very close proximity to the new campus.

As a starting point on the ground, the following regulatory framework is relevant in bringing Pakistan within the scope of a conduct costs study. First, the State Bank of Pakistan is the banking regulator. Some people may argue that, in contrast to the UK and the US for example, Pakistan does not as yet have the specialist law enforcement agencies such as the British Serious Fraud Office, Financial Conduct Authority or Prudential Regulation Authority or the American Commodities Future Trading Commission, New York Department of Financial Services etc.

But, on any view, the framework for oversight is distinctly Anglo-American and some other regulators and law enforcement agencies include the Securities and Exchange Commission of Pakistan, the Banking Ombudsman and the Federal Investigation Agency (which is the equivalent of the British National Crime Agency and the American Federal Bureau of Investigation).

Perhaps potential also exists for the Competition Commission of Pakistan to play a part in the proposed research; it is an independent quasi-regulatory, quasi-judicial body that helps ensure healthy competition between companies for the benefit of the economy and serves to promote fair trade in the market.

Moreover, any remaining regulatory and law enforcement lacunae may potentially be filled by the national corruption watchdog, i.e. the National Accountability Bureau, but we must not shirk from accepting that the corrupt nature of law enforcement agencies in Pakistan means that as analysts of governance indulging in the monitoring of bank behaviour it would be futile for us to rely on the state to put things right.

The Ombudsman’s annual reports show that sanctions are imposed on banks for wrongdoing. The reports are quite detailed about the type of complaints made and catalogue the thanks and gratitude of those who have been provided redress by the Ombudsman whose core values are responsiveness, compassion, flexibility, trustworthiness and transparency.

The complaints detailed in the reports provide a good building block to study conduct costs but are “limited” in the sense that they concerned mostly with everyday consumer issues such as ATMs and credit cards rather. Yet complaints involving fraud, corruption, inefficiency and dereliction of duty are also lodged and resolved by the Ombudsman and in 2014 there were 4506 complaints, an increase from 4,238 complaints the year before. Since 2005, there have been 33,064 complaints of which 11,120 were “formal complaints” and 21,944 were “informal complaints”. The difference between the two types of complaints is that the former are not in the form prescribed by the Banking Companies Ordinance 1962 whereas the latter are in the prescribed form.

Barclays and HSBC have recently sold their operations in the country but a number of foreign banks operate in the country, i.e. Citi, Deutsche, Standard Chartered and ICBC.

It is an internationally known fact that over the past five years, the major banks have paid more than $15 billion for breaching sanctions against countries such as Pakistan’s neighbour Iran. In that regard, Standard Chartered’s share is $669 million and other figures for fines imposed include: BNP Paribas $8.9 billion, HSBC $1.9 billion, Commerzbank $1.45 billion, Crédit Agricole $787 million, ING $619 million and Credit Suisse $536 million.

Taking the case of Standard Chartered, which partially originates in Kolkata (India), in relation to Pakistan it is obvious from the bank’s annual report 2015 that it does not consciously self-report any misconduct which may be attributable to it and the words “conduct”, “ethics”, “transparency” do not appear in its report. However, on page 65 of the 2015 report we can see that the SBP imposed penalties of 40,725,000 rupees (£270,547) on the bank; which is a big increase from only 835,000 rupees (£5,550) in 2014. These costs are clearly conduct costs. The CCP Research Foundation’s 2015 results show that internationally Standard Chartered incurred £.96 billion in conduct costs during 2010-2014. Though arguably “insignificant”, the figures from Pakistan are in fact reflected in that sum. Moreover, the same is true for conduct costs incurred by Deutsche bank which – for the same period – amount to £6 billion and involve things such as benchmark rigging.

The reason that these Pakistani fines are included is that where liability has been determined by judgment, settlement or award – as opposed to a provision for a prospective, albeit quantifiable, liability – it is intended to include all conduct costs, wherever incurred. This is because the methodology used takes account of the figure for conduct costs incurred as disclosed by the bank in its consolidated accounts (at group level). The CCP Research Foundation therefore aims to identify this figure in the accounts (or rather the best available proxy to a “total conduct costs” figure as it can ascertain given the lack of specific disclosure (and tendency to aggregate with other, irrelevant, expenses)).

The Pakistani fine would therefore fall, in principle, for inclusion within the group level disclosure. But, of course, despite this inclusion we have no conduct costs analysis for Pakistan individually as a country and one is quite desperately needed to make sense of the banks operating in this large and vibrant society.

Just to be absolutely sure of what we are discussing, as defined by the CCP Research Foundation, conduct costs are all costs borne by a Bank in connection with any of the following:

(i) regulatory proceedings, specifically (but not exhaustively):
(a) fines or comparable financial penalties imposed on the Bank by any Regulator;
(b) any sum paid to a Regulator or at the direction of a Regulator in settlement of proceedings of any kind;
(c) any sum paid to, or set aside to be paid to, any third party or parties to the extent required by any Regulator; and
(d) any sum paid, or set aside, for the purchase (or exchange) of securities or other assets to the extent required by a Regulator and (if such information is available) to the extent such sum exceeds the open market value of such securities or other assets as at the date of purchase;
(ii) any costs, losses or expenses which are directly related to an event or series of events or conduct or behaviour of the Bank or a group of individuals employed by the Bank for which any fine or comparable penalty has been imposed or any censure issued by a Regulator;
(iii) any sum that has become payable as a result of, or in connection with, any breach of any code of conduct or similar document entered into, or committed to, at the request of, or required to be entered into or committed to by, any Regulator or any public, trade or professional body;
(iv) any loss of income or other financial loss attributable to a requirement imposed by a Regulator to place money on deposit with a central bank or other institution at below the market rate of interest, being a requirement imposed in connection with a breach of law or Regulatory requirement;
(v) any sum paid in connection with any litigation (whether ordered to be paid by a court or tribunal or in settlement of proceedings) where the litigation involved allegations of material wrongdoing or misconduct by senior officers or employees of an institution which were not refuted;
(vi) any other sum, cost or expense, not falling within any of (i) to (v) above that is paid pursuant to an order or requirement of a Regulator and which is a result of any breach of any regulatory requirement or law.

Overall, using the above building blocks it is quite possible to produce high-level analysis in Pakistan using the foundation provided by the CCP Research Foundation, though the exact mechanics may need to be modified to fit the challenges posed by the fact that Pakistan is a developing country. In addition to the international banks identified above, there are many other smaller banks from the Middle East and Asia as well; below is a full list of banks in Pakistan whose systematic study will provide rewards as the country develops and embraces “full-blown” capitalism in the years to come.

In private banking, players can be listed as Allied Bank Limited, Askari Bank, Bank Alfalah, Bank AL Habib, Faysal Bank, HBL, Habib Metropolitan Bank, JS Bank, MCB Bank Limited, NIB Bank, Samba Bank Limited, Silk Bank Limited, Soneri Bank, Summit Bank and United Bank Limited.

The “Islamic” banks include, Meezan Bank Limited, Al Baraka Bank, Bank Islami Pakistan Limited, Burj Bank and Dubai Islamic Bank.

The public sector banks are First Women Bank, National Bank of Pakistan, Sindh Bank, Bank of Khyber and The Bank of Punjab.

There are also a dozen microfinance banks, namely Khushhali Bank Limited, The First Microfinance Bank Limited, NRSP Microfinance Bank, Tameer Microfinance Bank Limited, Apna Microfinance Bank Limited, FINCA Microfinance Bank, Pak-Oman Microfinance Bank Limited, Tameer Microfinance Bank Limited, The First MicroFinanceBank Limited, The Punjab Provincial Cooperative Bank Limited, U Microfinance Bank Limited and Waseela Microfinance Bank.

Using the above as a foundation, along with friends in the CCPRF, we hope to etch out a fuller existence for Pakistan in the important area of conduct costs. We think that a league table for banking and financial services can only be a boon to Pakistan and benefit the country in the long run.

CORPORATE CRIME

We possess unrivalled expertise in corporate crime and regulation.

We have a high-level expertise in all forms of company law and its practice in multiple jurisdictions such as the EU, UK, US and South Asia. We excel in white collar crime cases. We are known as a premier outfit with an excellent reputation for its representation of individuals including company directors, officers and employees. As a boutique firm offering a large team with extensive experience in handling corporate criminal investigations, we frequently advise on complex commercial fraud, regulatory enforcement and money laundering cases. We also have a strong capability in handling cartel investigations.

We routinely act on behalf of those accused of high-level financial crime and our lawyers are accomplished in defending allegations of insider trading, tax fraud and misleading corporate statements. Notably, our founding partner Asad Ali Khan regularly contributes on cutting edge comparative corporate crime issues to the world’s premier corporate law publication The Company Lawyer (Sweet & Maxwell).

For example in his recent piece Benchmarks and regulation: Key lessons of UK reforms for South Asia (Comp. Law. 2017, 38(11), 335-342), he discusses the need for regulatory reform in India, Pakistan, Bangladesh and Sri Lanka to combat the risks of benchmark manipulation by banking staff posed by technological advances, and the lessons to be drawn from the UK’s experience. The article also reviews UK reforms on benchmark submission and administration under the Financial Services Act 2012, the current lack of regulatory reforms in South Asian states, and the UK measures that could be adopted.

In an earlier piece, Personal accountability in Pakistani financial services – a briefing on the Companies Bill 2015 and lessons from the UK Senior Managers Regime (Comp. Law. 2016, 37(6), 193-194), he shed much needed light on developments in Pakistan’s company legislation and argued that cosmetic changes connected to directors’ duties alone are incapable of improving personal accountability. In comparative perspective, the he argued that Pakistan must learn from the UK Senior Managers Regime and concluded that its adoption will reinforce transparency and improve responsibility in Pakistan’s corporate and financial services sector.

Our superb international footprint ensures an ability to assist easily on complex cross-border matters. Our areas of strength include advising on complex corporate investigations and regulatory work. We have a most impressive record of handling anti-bribery and corruption matters for blue-chip clients from a range of sectors.

Because of our first-rate experience in dealing with high-profile investigations by major prosecutors, we are a popular choice for a raft of household-name entities including banks, manufacturers and government departments. We are accomplished in advising on cross-border regulatory investigations involving alleged rate manipulation, as well as sanctions matters.

Our criminal lawyers are extremely talented, sophisticated and well educated. They are renowned for their skills to strategically advise clients and safeguard their interests against adverse publicity. Our international reputation is excellent and we are active in representing clients in multiple jurisdictions in cases relating to extradition, red notices and other criminal proceedings.

CONSTITUTIONAL LAW

We are leading experts in the field of constitutional law and human rights.

Pakistan’s weaknesses as state have developed from the fact that the country’s Constituent Assembly failed to settle a constitution in a timely manner. This failure led to the democratic process being suspended and usurped by the executive by virtue of the application of coercive tactics with the judiciary which, in turn, devised the “doctrine of necessity” to legitimise violence and dictatorship.

However, now Pakistan stands at a critical juncture in its history and, as shown by the dismissal of Nawaz Sharif as prime minister as a consequence of the Panama Papers case, the judiciary is eager for justice to be done. Nowhere in the law of Pakistan is the implementation of justice more important than in the realm of fundamental rights guaranteed by the 1973 Constitution.

As is well known, the enforcement of guaranteed constitutional and international human rights is our core specialism. The Constitution is intended to guide Pakistan’s law and its political culture, and system. It identifies the state (its physical existence and its borders), people and their fundamental rights, the state’s constitutional law and orders, and also the constitutional structure and establishment of state institutions and the country’s armed forces. The Pakistani Parliament cannot make any laws which may be repugnant or contrary to the Constitution, however the Constitution itself may be amended by a two-thirds majority in both the houses of the bicameral Parliament.

Laws inconsistent with or in derogation of fundamental rights are void and the following rights are constitutionally guaranteed in Pakistan:

• Security of person
• Safeguards as to arrest and detention
• Right to fair trial
• Prohibition on slavery and forced labour
• Protection against retrospective punishment
• Protection against double punishment and self-incrimination
• Inviolability of dignity of man
• Freedom of movement
• Freedom of assembly
• Freedom of association
• Freedom of trade, business or profession
• Freedom of speech
• Right to information
• Freedom to profess religion and to manage religious institutions
• Safeguard against taxation for purposes of any particular religion
• Safeguards as to educational institutions in respect of religion
• Protection of private property
• Equality of citizens
• Right to education
• Non-discrimination in respect of access to public places
• Safeguard against discrimination in services
• Preservation of language, script and culture

The High Courts and the Supreme Courts in Pakistan, and indeed all over South Asia, have wide-ranging powers of judicial review which allow these courts not only to unilaterally safeguard guaranteed constitutional rights but also to entertain highly contested litigation in the public interest.

We excel in public and human rights law and are able to assist clients to obtain numerous public law reliefs and remedies from the courts including, but not limited to, prerogative writs, writ of mandamus, writ of certiorari, writ of habeas corpus, writ of procedendo, writ of prohibition and the writ of quo warranto and so forth.

The High Courts are empowered to issue these writs under article 199 of the Constitution. Similarly, the Supreme Court enjoys original jurisdiction under article 184 to enforce the fundamental rights conferred by part 2, chapter 1 of the Constitution.

GLOBAL CITIZENSHIP

We are leaders in the field of Global Citizenship and have the right option for you.

Our world is now more interconnected than ever before. This presents many big challenges but opportunities also arise for “global citizens”, i.e. individuals who understand the complexity of our interconnected world by knowing their social, ethical and political responsibilities and by way of displaying leadership and teamwork and generating profits through innovation and entrepreneurship.

Such aims are best achieved through a multiplicity of citizenships. To this end, in addition to the UK, we offer services in relation to the acquisition of citizenship of countries such as Brazil, Cyprus, Ireland, Malta, Portugal and the USA. Some details follow below.

In the UK, so-called Tier 1 “golden visas” for visas investors and entrepreneurs serve as an avenue to settlement and a British passport. The London property market is of particular interest to foreign investors. Equally, opportunities present themselves by gaining British citizenship by simply investing in government bonds which pay a return and are a convenient vehicle to obtaining British citizenship and confer all the benefits of world class health care and education systems and a secure and stable business environment.

Cyprus: Citizenship by Investment

The sunny Mediterranean island of Cyprus is strategically located for business with Asia, Africa and Europe. The acquisition of the citizenship of Cyprus by investment is an astute choice as it opens the door to a world of visas without the obligation to relinquish your original nationality.

Subject to some requirements, the Cypriot Government offers citizenship by investment to persons investing more than €2 million in real estate. Citizenship culminates in the right to live, work and study in all EU 27 member states. Applications are approved within three months making the process of the fastest ways to acquire global citizenship. Attractions include:

• EU citizenship and the right to live, work, and study in all EU 27 states and the UK
• The security of the European social and legal system
• Visa-free travel to 158 countries around the world
• The flexibility of no fixed residence requirement

Malta: Citizenship by Investment

The acquisition of dual citizenship in Malta by virtue of property investment is the perfect choice for investors. Applications must be made through the Malta Individual Investor Programme using an approved agent. A Maltese investment visa opens the door to Asia, Africa and Europe for aspiring global citizens. Upon gaining citizenship you will have:

• The right to live, work and study in any of the EU 27 countries, the UK and Switzerland
• Visa-free travel to 167 countries, including the EU and Canada
• The opportunity to join an elite club to which only highly respectable applicants are admitted

Portugal: Citizenship by Investment

Portugal is a beautiful country with an endless coastline and excellent weather. Reasonably priced property is easily accessible in the country and Portuguese citizenship comes with all the benefits of European Union membership. Unlock the beauty of Portugal with its charming countryside and vibrant beaches and simultaneously obtain its citizenship through investment.

For property investments you will need to acquire property above €500,000 or acquisition of property above €350,000 for properties more than 30 years old or located in areas of urban renovation.

• For capital investments your will need to transfer funds above €1 million
• For research activities you will need to transfer funds above €350,000
• For artistic or cultural activities you will need to transfer funds above €250,000
• For capitalisation of small and medium size companies you will need to transfer funds above €500,000
• You will need to create 10 jobs

Ireland: Citizenship by Investment

In Ireland, the immigrant investment program gives a unique opportunity for new residents to explore the investment environment. Ireland has an investor friendly economic platform which promotes Foreign Direct Investment (FDI). Over time, FDI has become significant in Ireland’s economic growth. Through a national initiative, Irish citizenship by investment has been encouraged and supported.

• Ireland is an attractive investment hub in light of the fact that Irish citizenship can be achieved
• Unlike most countries, Ireland’s tax regime is structured so as to attract business to the country
• Corporation tax is charged at 12.5% and a 25% tax credit is given towards research and development
• In addition to these tax incentives, the government has a zero tax rate on foreign dividends and withholding tax exemptions

Applicants can also invest either in a single Irish enterprise or a mixture of enterprises. These investments through the Irish enterprises must not fall below €1 million per investment. These investments contribute towards employment creation and funding of both running businesses and business start-ups. For the individual to be considered as a resident, the investment must not only be made for a minimum of three years but must also be made in the name of the applicant.

Individuals who own venture capital firms are also given consideration as long as such venture capital firms provide funding to business start-ups in Ireland. Another enterprise investment that the guidelines on immigration investor program allow is direct investment through shares of Irish companies listed on the Irish Stock exchange.

An applicant does have an option of investing in existing or new businesses in Ireland. In such a case, the applicant is to furnish a fully audited recent report of the business if it is a going concern. In relation to a new business, the applicant must submit a comprehensive business plan. The business plan should detail among many items the investment made by the applicant. Since the aim of the business investment is to help create employment, the business plan should clearly outline how this will be done through the funds injected.

Apart from the above mainstream investments, other investments can also be considered in the application of Irish residency under the Immigrant Investor Program. An example of such investments is one that is made in the property market. If the applicants have a residential property in Ireland where they intend to live in but not rent – that too can be considered in the acquisition of citizenship.

The investment in property must amount to €1 million and above for it to be enlisted for consideration. Investment in property that is directly or indirectly linked to either enterprise development or any social benefit to the republic of Ireland can also qualify under the Immigrant Investor Program.

Caribbean: Citizenship by Investment

In the Caribbean we offer bespoke citizenship services in relation to Antigua and Barbuda, Dominica, Grenada and St Kitts and Nevis.

Citizenship by investment to Antigua and Barbuda offers visa-free travel to more than 140 destinations, including Canada. Similarly, Dominican citizenship by investment comes with no residency requirements whatsoever. In relation to income, wealth or inheritance taxes there are no requirements and a Dominican passport permits visa-free travel to more than 135 countries. Of course, the same is also true for Grenada.

St Kitts and Nevis is the smallest state in the Americas. As in the case of Dominica and Grenada, no residency requirements exist. Similarly, there are no requirements on income, wealth or inheritance taxes. The citizenship of St Kitts and Nevis permits visa-free travel to more than 150 countries including the European Union and the UK and facilitates for long-term visas to the USA.

COMPANY LAW

The Security and Exchange Commission of Pakistan (SECP) is the regulator of company law in Pakistan. We are instructed in all areas of work in relation to the SECP which is a statutory regulatory body established by the Securities and Exchange Commission of Pakistan Act 1997.

Owing to the fact that we are work with foreign corporate entities, it compliments our practice to provide services in relation to:

• Registration of corporate entities with the SECP
• NTN registration advice and assistance
• Taxation and anti-trust issues
• Banking and financing transactions
• Syndicated loans and revolving credit facilities
• Project financing and mergers and acquisitions
• Incorporation of private, public and listed companies
• Public floatation, listing of securities and tender offers for listed securities
• Joint venture agreements and commercial and partnership contracts and agreements
• Business sales and purchases, mergers, acquisitions and amalgamations
• Debt financing and debt and equity securities offerings for issuers and underwriters
• Secured financing transactions and reorganisations and restructurings
• Asset securitisation and structured finance and financial institutions regulation
• Shareholder agreements, employee ownership and management buyouts

In relation to representation, we routinely act in proceedings in the SECP’s Appellate Bench which is statutorily mandated to hear appeals filed against the orders passed either by a Commissioner or any other officer authorised by the SECP:

• The Appellate Bench comprises of two Commissioners and its registry is headed by the Registrar Appellate Bench, who works under general superintendence of the Appellate Bench
• Administratively, the Registrar reports to Commissioner, Company Law Division. Section 33 of the 1997 Securities and Exchange Commission of Pakistan Act and the Securities and Exchange Commission of Pakistan Act (Appellate Bench Procedure) Rules 2003 provide the legal basis for the functioning and administration of the Appellate Bench and the Appellate Bench Registry

Should you require representation in proceedings with the Appellate Bench of the SECP, please do not hesitate to contact us.

In addition to the above, Khan & Co Barristers-at-Law is involved in corporate proceedings in the High Courts of Pakistan which hear company law matters – the keystone in relation to which can be found in the Companies Act 2017 and other related statutes.

Khan & Co Barristers-at-Law have a strong commercial team who will work with you to enable you to achieve your goals in the most effective and cost effective manner. We endeavour to look beyond the legal constraints to look outside the box and see the bigger picture by providing you with practical solutions for your business needs. Our lawyers are expert advisors across a spectrum of disciplines, providing help to businesses, directors, institutions, societies, owners and managers.

COMPETITION

Despite being a developing country, Pakistan is in the process of swift modernisation and change. It is important that competitiveness is upheld so that the economy flourishes and consumers benefit. To that end, the Competition Commission administers the law and is established under the Competition Act 2010.

The Act gives the Commission legal and investigative power to ensure that free competition in all spheres of commercial and economic activity prevails. It aims to enhance economic efficiency, and to protect consumers from anti-competitive behaviour.

The Act applies to all undertakings in Pakistan irrespective of their public or private ownership and to all actions or matters that can affect competition in Pakistan. Although essentially an enabling law, it briefly sets out procedures relating to review of mergers and acquisitions, enquiries, imposition of penalties, grant of leniency and other essential aspects of law enforcement.

Under the Act, situations that tend to lessen, distort, or eliminate competition (such as actions constituting an abuse of market dominance, competition-restricting agreements, and deceptive marketing practices) are prohibited. Central features of the Act can be recalled as:

• Under section 3, the Act prohibits the abuse of a dominant position through any practice that prevents, restricts, reduces, or distorts competition in the relevant market. These practices include, but are not limited to, reducing production or sales, unreasonable price increases, charging different prices to different customers without objective justifications, tie-ins that make the sale of goods or services conditional on the purchase of other goods or services, predatory pricing, refusing to deal, and boycotting or excluding any other undertaking from producing, distributing or selling goods, or providing any service.

• Under section 4, the Act prohibits undertakings or associations from entering into any agreement or making any decision in respect of the production, supply, distribution, acquisition or control of goods or the provision of services, which have the object or effect of preventing, restricting, reducing, or distorting competition within the relevant market. Such agreements include, but are not limited to, market sharing and price fixing of any sort, fixing quantities for production, distribution or sale; limiting technical developments; as well as collusive tendering or bidding and the application of dissimilar conditions. The Commission is authorized, however, to issue either individual or block exemptions under sections 5 to 9 of the Act.

• Moreover, the Act prohibits deceptive marketing practices, in other words, any advertising or promotional material that misrepresents the nature, characteristics, qualities, or geographic origin of goods, services or commercial activities. The Office of Fair Trade(OFT) has been created within the Commission specifically to oversee consumer protection issues within the meaning of section 10 of the Act.

• The law prohibits mergers that would substantially lessen competition by creating or strengthening a dominant position in the relevant market. The Act requires prior notice of proposed mergers or acquisitions that meet the notification thresholds stipulated in regulation 4 of the Competition (Merger Control) Regulations 2007. If the Commission determines this to be the case, it can prevent mergers or acquisitions, set conditions or require divestitures. The Act does not distinguish between horizontal and vertical mergers. The term merger in 11 also covers joint ventures, therefore they are subject to the Commission’s approval provided that they meet the notification thresholds.

• Under section 28 of the Act, the functions and powers of the Commission are to: (a) initiate proceedings and make orders; (b) con-duct studies for promoting competition; (c) conduct enquiries; (d) give advice to any undertaking which has asked for it in relation to the consistency of its proposed actions in relation to the law; (e) engage in competition advocacy; and (f) take all other actions necessary for implementing the Act.

• Section 30 establishes rules for proceedings in case of contravention, stipulating that before making an order the Commission shall: (a) give notice of its intention stating reasons; and (b) give the undertaking(s) involved an opportunity to be heard and to bring be-fore the Commission facts and material in support of its (their) contention.

• Section 31 deals with the Commission’s orders in cases pertaining to abuse of dominant position, prohibited agreements, deceptive marketing practices, and mergers. The Commission has the power to issue interim orders if the final decision will take time and the actual or imminent situation can cause harm.

• Section 33 establishes that the Commission shall, for the purpose of a proceeding or enquiry, have the same powers as are vested in a civil court for: (a) summoning and enforcing the attendance of any witness, (b) discovery and production of any document as evidence, (c) accepting evidence on affidavits, (d) requisitioning of any public record form any court or office, and (e) issuing of a commission for the examination of any witness or document. Any proceeding before the Commission shall be deemed to be a judicial proceeding and the Commission shall be deemed to be a civil court for the purposes of offences relating to documents given in evidence.

• Section 34 grants the Commission the power to enter and search premises and should any undertaking refuse without any reasonable grounds, section 35 grants the power of forcible entry.

• Section 38 empowers the Commission to direct any undertaking or individual to pay by way of penalty a sum specified in an order, if it determines that such an undertaking or individual has been found to have engaged in any prohibited activity, has failed to comply with an order of the Commission, has failed to supply documents and information to the Commission, or has furnished any document or information believed to be false, inaccurate or that knowingly and negatively interferes in the work of the Commission.

• Section 39 permits the Commission to be lenient and impose a lesser penalty on an undertaking that is alleged to have violated the law if it has made a full and true disclosure in respect of the alleged violation. There is also a possibility of a full exemption. Leniency is possible only for the first undertaking that makes a full disclosure. The Commission, though, may revoke leniency in case of failure to comply with the leniency conditions or false evidence.

Should you require any advice or representation in relation to the Commission or the OFT or any of the related rules, regulations and guidelines, Khan & Co Barristers-at-Law shall only be too delighted to assist you in your legal affairs. We will gladly accept instructions in either bringing or defending proceedings in the Commission. Our expertise in European Union and UK competition law will allow us to advise you from a truly global competition law perspective and help us provide you with robust local remedies and relief.

OVERSEAS NATIONALS

Khan & Co Barristers-at-Law routinely advise on the Vienna Convention on Diplomatic Relations 1961. Moreover, we represent Pakistanis in the UK and accept instructions in all legal matters. Our synergies with solicitors and barristers in the UK allow use effortless access to remedies for overseas Pakistanis who are confronted by legal problems.

In this regard, we work in matters relating to the fields of corporate, criminal, civil, construction, family, human rights, housing, land, intellectual property, fraud and financial services law.

Similarly we also represent all foreigners in Pakistan itself in a wide variety of legal matters. We are experts in Pakistan’s foreigners’ laws and accept instructions in cases relating to naturalisation under the Pakistan Citizenship Act 1951.

We routinely represent foreigners in Pakistan in cases arising out of the Foreigners Act 1949, the Registration of Foreigners Act 1939, the Foreigners Order 1952, Pakistan (Control of Entry Act) 1952 the Registration of Foreigners (Exemption) Order 1962, the Enemy Foreigners Order 1965, the Registration of Foreigners (Exemption) Order 1966 and the Registration of Foreigners Rules 1966.

We also posses further expertise in matters relating to the Emigration Act 1922, the Emigration Rules 1959, the Passport Act 1974, the Passport Rules 1974, the Emigration Act 1976 and the Emigration Ordinance 1979.

CHINA-PAKISTAN ECONOMIC CORRIDOR

The China-Pakistan Economic Corridor (CPEC) has brought new opportunities to Pakistan. Modern banking, ports, railways, roadways, oil and gas pipelines, power plants and security are at the centre of transforming Pakistan’s infrastructure and uplifting the country out of poverty.

A vibrant and strong infrastructure is in Pakistan’s best interests and CPEC is a welcome development in that regard. Despite the potential for high debt creation for Islamabad owing to an extravagant price tag of $62 billion, Beijing is adamant that CPEC does not carry any “hidden agenda” and that it is indeed a gesture of goodwill generated by the Chinese people’s historic friendship with the people of Pakistan.

Khan & Co Barristers-at-Law are at the forefront of providing legal representation to companies and individuals from all over the world who are involved in CPEC or are affected by it.

BREXIT

The challenges of the United Kingdom’s exit from the European Union after four decades comes with acute economic and social challenges but Brexit will also bring fresh, previously unwitnessed legal situations and problems. As the UK and the EU are confronted by the fall out of the Brexit referendum, the global business sector needs to manage the challenges and reap the rewards offered by the opportunities.

As cutting-edge lawyers, we are committed to representing both British and European interests in all legal spheres within and outside Pakistan. We have been exploring for a number of years whether Brexit will take a “hard” or “soft” form and the practical implications for both the private and public sectors which will flow from the final outcome. With more than 40,000 pages of EU law needing to be unpicked from the UK’s domestic legal system, the uncertainties of the future are all too apparent. By bringing together leading experts to advise you, we can help you to plan for the challenges and opportunities accompanying Brexit and give you with strategic advice regarding how to reorganise your business and operations in order to succeed in the future EU-UK legal environment.

Unlike most other law firms in the region, we have the unique ability to comprehensively advise you on the implications of Brexit on the free movement of persons, capital and services and freedom of establishment and, of course,passporting rights in financial services. We are also able to advise clients on the effect of the ongoing Brexit negotiations on your business and what your ideal business strategy should be in light of the progress of these negotiations.

We are always delighted to advise clients on the economic fallout of Brexit whether our services are required in the business sector or on an individual level. Therefore, our unrivalled expertise in European Union and United Kingdom law makes us the right choice for you whether you are a business or an individual.