ICAP issues circular on clarifications provided by SECP on the Listed Companies (Code of Corporate Governance) Regulations 2019

The Institute of Chartered Accountants of Pakistan (ICAP) on January 16, 2020 issued a circular on recent clarifications provided by the Securities & Exchange Commission of Pakistan (SECP) on application of the Listed Companies (Code of Corporate Governance) Regulations 2019 (The CCG Regulations). The clarifications addressed the following matters:

  • The CCG Regulations are effective from September 25, 2019;
  • Upon notification of the CCG Regulations, the Listed Companies (Code of Corporate Governance) Regulations 2017 have been repealed;
  • For the year ended September 30, 2019 and onwards, only the Regulations are applicable; and
  • The format of the Statement of Compliance as provided in Annexure A to the CCG Regulations is to be followed for the year ended September 30, 2019 and onwards.
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