Page 161 - InterloopAnnualReport2021

5. Mandatory Submission of CNIC Copies:
With reference to the notification of Securities and Exchange Commission of Pakistan (SECP), SRO 779(1)2011
dated August 18, 2011, the Members/ Shareholders who have not yet submitted photo copy of their valid
CNIC to the company are required to send the same at the earliest directly to the company’s Share Registrar
M/s. CDC Share Registrar Services Limited, CDC House, 99 –B, Block B, S.M.C.H.S., Main Shahrah-e- Faisal,
Karachi-74400. In case of non-receipt of the copy of valid CNIC and noncompliance of the above mentioned
SRO of SECP, the company may be constrained to withhold transfer of dividend in the future, if any.

6. Dividend Bank Mandate:
Pursuant to Section 242 of the Companies Act, 2017, members are requested to provide their CNIC’s and
bank account details including name of the bank, address of bank branch and International Bank Account
Number (IBAN) to receive their cash dividend directly into their bank account. Therefore, all members who
have not yet provided their CNIC and Bank Account details are once again reminded to immediately submit a
copy of their CNIC and duly filled ‘Dividend Bank Mandate Form’ to the company’s Share Registrar or to the
company directly. In the absence of valid bank account details and CNIC, dividend amount will be withheld in
compliance with the provisions of Act and Regulations made thereunder by the Commission. The ‘Dividend
Bank Mandate Form’ is available at the company’s website i.e. www.interloop-pk.com

Members who hold shares in CDC accounts are required to provide their bank mandates to their respective
participants.

7. Deduction of Income Tax from Dividend under Section 150 of the Income Tax Ordinance, 2001 (“Income
tax Ordinance”):

The rates of deduction of withholding tax for Filers and Non-Filers as prescribed under Section 150 of the
Income Tax Ordinance 2001, are as under:

For Filers of income tax returns 15.00%
For Non-Filers of income tax returns 30.00%

Withholding tax on Dividend in case of Joint Account Holders

Members who have joint shareholdings held by Filers and Non-Filers shall be dealt with separately and in
such particular situation, each account holder is to be treated as either a Filer or a Non-Filers and tax will be
deducted according to his/her shareholding.

If the share is not ascertainable then each account holder will be assumed to hold equal proportion of shares
and the deduction will be made accordingly. Therefore, in order to avoid deduction of tax at a higher side, the
joint account holders are requested to provide the below details of their shareholding to the Share Registrar
of the company latest by the Annual General Meeting date.

Name of Principal Name of Joint
Folio No/ Total No of Share Share
Shareholder and Shareholder and
CDC Account No Shares Holding Holding
CNIC # CNIC #

Valid Tax Exemption Certificate for Exemption from Withholding Tax

A valid tax exemption certificate is necessary for exemption from the deduction of withholding tax under
Section 150 of the Income Tax Ordinance, 2001. Members who qualify under Clause 47B of Part IV of the
Second Schedule to the Income Tax Ordinance, 2001, and wish to seek an exemption must provide a copy
of their valid tax exemption certificate to the Shares Registrar prior to the date of commencement of Book
closure, otherwise tax will be deducted according to the applicable law.

Unclaimed Dividend
Shareholders, who by any reason, could not claim their dividend, if any, are advised to contact our Share

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