Notification on the Corporate Governance Code-2018 regarding inclusion of at least 1 (one) female independent director in the Board of Directors of the company.

The Bangladesh Securities and Exchange Commission (BSEC) amends the Corporate Governance Code-2018 to mandate that listed companies include at least one female independent director on their Board of Directors. This requirement applies to all listed companies as defined under the Securities and Exchange Ordinance, 1969, and supersedes previous notifications issued in 2018 and 2023. The amendment explicitly modifies the relevant clauses of the Code to enforce this gender diversity quota for board composition.

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Registered No. D.A.-1
Bangladesh Gazette
Extraordinary Issue
Published by Authority
Monday, April 29, 2024
[ Notifications and Notices issued by Private Persons and Corporations ]

NOTICE
Date: 04 April 2024
Ref. No. BSEC/CGC/2009-193/76/ChU/151-Dybdhongo: Yobidhobongo

Regarding inclusion of at least 1 (one) female independent director in the Board of Directors of the company (hereinafter referred to as "the Company") under the Corporate Governance Code-2018, the Bangladesh Securities and Exchange Commission (hereinafter referred to as "BSEC") hereby amends the Corporate Governance Code-2018, as amended from time to time, by adding a new clause 1(1) to clause 7 of the Code, as follows:

Whereas, under the Securities and Exchange Ordinance, 1969 (Ordinance No. XIX of 1969), the BSEC has issued various notifications from time to time regarding the Corporate Governance Code for listed companies, namely Notification No. BSEC/CGC/2006-158/207/Ofsoho/80, dated 03 October 2018, and Notification No. BSEC/CGC/2009-193/66/ChU/148, dated 16 November 2023, it is necessary to amend the said notifications as follows:-

(11071)
Value: Tk. 4.00

11072 Bangladesh Gazette, Extraordinary, April 29, 2024

"Clause 7 of the Corporate Governance Code shall be amended by adding a new clause 1(1) as follows:
"Listed companies shall include at least 1 (one) female independent director in their Board of Directors; Provided that the provisions of clause 1(1) shall not apply to companies specified in the said notifications."

Bangladesh Securities and Exchange Commission

Chongonjhojho Jhoiokho
JotioAnonch-Tk-OkhAg
Iydhortsodho.
Md. Tajim-ur-Rahman, Deputy Director (Upasachib), Bangladesh Government Printing Office, Tejgaon, Dhaka. Md. Nojormol Islam, Deputy Director (Upasachib), Bangladesh Forms and Publications Office, Tejgaon, Dhaka. Printed and Published by Authority. Fin. InmDhotongong. Mora.Nof

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Notification on the Corporate Governance Code-2018 regarding inclusion of at least 1 (one) female independent director in the Board of Directors of the company.

Lineage: In force

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