RegAlert2024-04-19
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The Companies (Further Issue of Shares) Regulations 2020
These regulations establish the conditions for listed companies issuing further capital through right shares, bonus shares, employee stock option schemes, and other non-right offers. They mandate board approvals, specific disclosure requirements in offer documents, and underwriting obligations for unsubscribed portions of right issues. The rules also prohibit issuers with defaults from making right issues and require sponsors to retain shareholdings for one year or project completion, whichever is later.
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GOVERNMENT OF PAKISTAN
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN -.-.-.- Islamabad, the 16th March, 2020 NOTIFICATION S.R.O 231 (I)/2020.- In exercise of the powers conferred under section 512 read with sections 58, 82, 83 and 83 A 1 of the Companies Act 2017 (XIX of 2017), the Securities and Exchange Commission of Pakistan is pleased to notify the following regulations, the same having been previously published in the official Gazette vide Notification No. S.R.O. 33(I)/2020 dated January 15, 2020, as required under proviso to sub-section (1) of the said section 512, namely:-
CHAPTER 1
PRELIMINARY
- Short Title and Commencement. - (1) These regulations shall be called the Companies
(Further Issue of Shares) Regulations, 2020.
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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
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SECP published 3 documents in the last 30 days. We email you each new one the day it's published.