In June 2013 the SECP proposed The Draft Associations not for Profit (licensing and corporate governance) Regulations, 2013. The purpose of these regulations is to further define the practices and regulations pertaining to Section 42 companies as defined in the Companies Ordinance 1984. The SECP at various forums has stated that the proposed regulations are in line with those applied to similar companies in other jurisdictions. The research unit at the
Pakistan Business Council (PBC) has prepared a comparison of the various sections and clauses in the proposed Regulation with existing law in other prominent Common Law countries.