Listed Companies (Code of Corporate Governance) Regulations, 2019

The Securities and Exchange Commission of Pakistan mandates that listed companies adhere to a 'comply or explain' approach for non-mandatory provisions while strictly enforcing mandatory requirements under Regulation 37. The regulations impose specific board composition limits, including a maximum of seven simultaneous directorships, a requirement for at least one female director, and a cap on executive directors at one-third of the board. New provisions require the CEO and at least one-third of directors to attend general meetings, establish sustainability governance structures, and implement anti-harassment and whistleblowing policies. Additionally, the document sets qualification criteria for chief financial officers and outlines mandatory reporting obligations for significant risks, related party transactions, and board performance evaluations.

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GOVERNMENT OF PAKISTAN
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN Islamabad, the 25th September, 2019 NOTIFICATION

SRO 1163 (I)/20191
.- In exercise of the powers conferred under Section 156 read with
section 512 of the Companies Act, 2017 (XIX of 2017), the same having been previously published
in the official Gazette vide Notification S.R.O. 485(I)/2019 dated 23rd April, 2019, as required under proviso to sub-section (1) of said section 512, the Securities and Exchange Commission is pleased to notify the following Regulations, namely:-

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This document amends: SRO 454 of 2025 – Amendments to Listed Companies (Code of Corporate Governance) Regulations, 2019

Source: Securities and Exchange Commission of Pakistan — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works