The Securities and Exchange Commission notified the Listed Companies (Code of Corporate Governance) Regulations, 2017 on 22 November 2017. These regulations would replace Code of Corporate Governance revised in 2012. This publication contains a synopsis of the new code and an analysis of the pertinent differences between the repealed and the new Code.
These Regulations shall apply to listed companies and to all other entities, to the extent applicable, where the statutes and underlying licensing requirements require such entities to comply with these Regulations. Unless otherwise specified, words and expressions used but not defined in these Regulations shall have the same meaning as assigned to them in the Companies Act 2017 (“the Act”) and the Securities and Exchange Commission of Pakistan Act, 1997 (XLII of 1997).
These Regulations shall come into force for the period starting after 31 December 2017.
We recommend that while considering the application of various provisions to any particular case, reference should be made to the specific wordings of the relevant statute.
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