Regulatory Alerts2023-02-27
Added · Updated
The Companies (Postal Ballot) Regulations 2018 – Amended up to July 7, 2023
These regulations mandate that listed companies provide electronic voting and postal ballot facilities for special business and director elections where candidate numbers exceed director quotas. Companies must appoint eligible e-voting service providers with specific cybersecurity certifications and ensure voting portals remain open for at least three days. The Board of a listed company is required to appoint a scrutinizer for specific transactions, who must validate voting results and submit a consolidated report on the day of the general meeting. Contravention of these provisions attracts penalties under section 512 of the Companies Act, 2017.
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