SECP amends Companies (Postal Ballot) Regulations, 2018

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has issued revised “ballot paper for voting through post for polls” for the members of every company.

The SECP has issued SRO 905(I)/2023 to amend the Companies (Postal Ballot) Regulations, 2018.

Under the regulations, it is the responsibility of every company that the right of vote through postal ballot shall be provided to members of every company. The right to vote through electronic voting facility and voting by post shall be provided to members of every listed company.

The SECP has also issued the procedure for the calculation of votes for each category of election of directors for listed companies.

The revised regulations revealed that where voting in separate categories for the election of directors is held by the company, votes shall be counted or unblocked, as the case may be, separately for each category of female directors, independent director, and other directors.

The SECP has also issued revised “BALLOT paper for voting through post for poll to be held on (time, date and place of poll)”. It included the name of the company and logo; complete contact details (including website address) and designated email address of the chairman at which the duly filled-in ballot paper may be sent.

The SECP has also issued another form for the results of voting on resolutions/execution report.

Copyright Business Recorder, 2023