April 25, 2025 (MLN): In line with its ongoing commitment to regulatory facilitation, ease of doing business, and market development, the Securities and Exchange Commission of Pakistan (SECP) has announced the establishment of a dedicated Licensing Facilitation Desk at its Head Office.
This initiative is aimed at providing applicants with hands-on guidance and assistance in obtaining licenses under Section 42 of the Companies Act, 2017.
The Licensing Facilitation Desk will focus on ensuring the completeness of applications on the spot and minimizing delays in the licensing process, according to the press release issued today.
To further enhance the efficiency of the application procedure, the SECP has introduced a standardized email address to serve as a single point of contact for all applications and related correspondence concerning Section 42 company licenses.
This centralized communication channel aims to streamline responses and improve overall coordination.
In a significant step toward promoting gender diversity and inclusivity in corporate governance, the SECP has mandated that medium and large-sized Section 42 companies must have at least one female director on their board.
This requirement will be effective from the next election of directors following the promulgation of the Companies Regulations, 2024.
Small-sized Section 42 companies are also encouraged to adopt this practice, promoting gender equality and inclusive governance.
Additionally, the SECP has made a range of resources available on its website to assist applicants in preparing their submissions.
These resources include a detailed checklist of required documents and a comprehensive Guide on Licensing of Associations with Charitable and Not-for-Profit Object Companies under Section 42.
These initiatives are part of the SECP's broader efforts to streamline regulatory processes, enhance transparency, and ensure the efficient handling of licensing matters.
Through these measures, the SECP continues to work towards modernizing regulatory frameworks and fostering a well-regulated, transparent, and investor-friendly corporate sector.
Copyright Mettis Link News
Posted on: 2025-04-25T12:02:13+05:00
