Summary

Background Facts: Karachi Stock Exchange (Guarantee) Limited (‘KSE’) and Lahore Stock Exchange (Guarantee) Limited (‘LSE’) ( ‘the Appellants’) have filed Applications for interim relief in their respective Appeals filed against the Order dated 18.03.2009 (‘the Impugned Order’) by a single Member of the Competition Commission of Pakistan in the matter of imposing a floor upon the prices of securities traded at the three stock exchanges of the country, i.e. KSE, LSE and Islamabad Stock Exchange (Guarantee) Limited. Order: The Commission based on the submissions made by the parties, in the interest of justice deem it just and proper to grant relief to the Appellants to the extent that no recovery proceedings for the penalty imposed shall be initiated by the Commission till the final disposal of the Appeals.