SECP issues guidelines to facilitate conduct of general meetings

ISLAMABAD, April 5: The Securities and Exchange Commission of Pakistan has issued two set of guidelines to facilitate and standardize the role of officers of listed companies and 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 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 with respect to responsibilities of officers that need to be signed by concerned officers so as to ensure timely discharge of responsibilities by them.

As part of inclusion of technology in day to day businesses, Guidelines suggesting 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, procedure for voting through ballot papers and timing & manner of announcement of result of Poll electronically etc.

These Guidelines have been issued in consideration of multiple queries and problems faced by the corporate sector and are suggestive in nature. 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.