The Securities and Exchange Commission of Pakistan (SECP) has issued guidelines to facilitate and standardize the role of officers of listed companies and the use of technology during general meetings. These guidelines will address impediments faced by listed companies, their shareholders, and stakeholders.
Guidelines issued on the role of officers of listed companies regarding general meetings provide the Chairman of Board, Company Secretary, Chief Executive Officer, and Share Registrar a comprehensive set of instructions that entails their role, responsibilities, and conduct during general meetings.
The guide has been prepared in light of applicable requirements of existing laws and regulations with few changes proposed in existing regulations. Guidelines also contain a checklist that has consolidated all the requirements laid down in applicable laws and regulations regarding responsibilities of officers that need to be signed by concerned officers to ensure timely discharge of responsibilities by them.
As part of the inclusion of technology in day-to-day businesses, the guidelines suggest enhanced use of technology during general meetings, outline the procedure of conducting general meetings through electronic means, manner of participation and E-voting by shareholders, the procedure for voting through ballot papers, and timing and manner of announcement of the result of poll electronically, etc.
These guidelines have been issued in consideration of multiple queries and problems faced by the corporate sector. Companies are encouraged to consult this document while performing their responsibilities during general meetings.
Guidelines are available on the official website of SECP: www.secp.gov.pk.
