The Securities and Exchange Commission of Pakistan (SECP) has issued guidelines for public limited companies, asking them to maintain their websites.
The SECP said some public limited companies were not keeping their websites functional despite a considerable time lapse. The commission had earlier directed public limited companies to maintain their websites by August 30.
However, in order to facilitate the companies in understanding and implementing this requirement, the SECP has issued guidelines for them. Certain queries of companies such as requirements for loss-making firms, form and manner of compliance certificate have been addressed in these guidelines.
The preferable format of compliance certificate has also been added to the guidelines. Powers to consider applications for relaxation and penalising non-compliant companies have been delegated to the Commissioner (Company Law Division).
Published in The Express Tribune, December 6th, 2014.
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