Legal Advisors : IHC issues notice to SECP
The Islamabad High Court Bar Association through its general secretary, Waqas Malik, petitioned the court
ISLAMABAD:
The Islamabad High Court on Monday issued a notice to the Securities and Exchange Commission of Pakistan (SECP) with directions to submit a written reply in connection with a petition seeking the appointment of lawyers as legal advisors in every company registered with the SECP. Justice Miangul Hassan Aurangzeb of the IHC admitted the petition, issued the notice to the commission, and directed for the submission of a reply by April 7. The Islamabad High Court Bar Association through its general secretary, Waqas Malik, petitioned the court stating that under the Appointment of Legal Advisors Act, 1974, every company was bound to have three legal advisors, and that the law was not being followed.
Published in The Express Tribune, March 22nd, 2016.
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