SECP: E-voting regulations issued

ISLAMABAD:

The Securities and Exchange Commission of Pakistan (SECP) has issued the E-voting Regulations 2016 paving the way for shareholders to be part of the decision-making process through electronic means.

The regulations give shareholders option to vote in meeting from a remote location via internet. This is a further step by the SECP to encourage corporate democracy and to promote good corporate governance.

Members will be informed through notice of general meeting that they can exercise their right to vote by giving their consent in writing on the appointment of the execution officer by the intermediary as a proxy ten days before the meeting.

It will be binding on listed company to arrange for e-voting if it receives demand for poll from at least five members or by any member or members having not less than one tenth of the voting power.

For ensuring that the members who have cast their votes through e-voting shall not vote again at the general meeting, the chairman of the meeting, shall have access to details relating to the members. 

Published in The Express Tribune, January 26^th,  2016.

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