application for Registration
A member desirous of acting as broker shall make an application to the SECP in Form as set out in the First Schedule of the Brokers and Agents Registration Rules 2001 for grant of a certificate of registration through the stock exchange of which he is a member. The exchange shall forward the application to the SECP within 14 days from the date of its receipt.

ELIGIBILITY for Registration
A person is eligible for registration as a broker, if he -

		is a member of the stock exchange;
		is not less than twenty one years of age;
		is a citizen of Pakistan;
		That promoters of such house are persons of means and integrity and have special knowledge of matters which the house may have to deal with as a clearing house; and
		That such person has complied with such other conditions as may be required by the SECP in the interest of the capital market.
		has at least passed graduation or equivalent examination from an institution recognized by the Government;
		Provided that the SECP may relax the educational qualification in suitable cases on merit having regard to the applicant’s experience;
		is not a lunatic or a person of unsound mind;
		has not been convicted of an offence involving fraud or breach of trust;
		has not been adjudicated as insolvent or has suspended payment or has compounded with his creditors ;
		has experience of not less than five years in the business of buying selling or dealing in securities;
		has not been a partner of a brokerage firm or a director of a brokerage company which has been convicted of an offence concerning brokerage;
		has not defaulted in payment of dues at clearing house;
		has not defaulted in compliance with the provision of the Ordinance the Act and the rules and regulations made there under,
		is not in default on settlement of an investor complaint where such complaint has been adjudicated by a stock exchange or a committee of a stock exchange or the SECP  and
		has complied with the directives of the SECP in respect of business conduct dealings with clients and financial prudence;

Grant of Certificate of registration
The SECP, if it is satisfied that the applicant is eligible for registration as a broker, and that it is in the interest of the stock market to do so, may grant certificate of registration to the applicant. The certificate of registration of a broker shall be valid for one year from the date of issue.

Renewal of Registration
The certificate of registration is renewable on payment of fee as prescribed in the Second Schedule of the Rules. Requirements of initial registration are applicable to renewal of the registration.