SECP proposes amendments in Companies Rules 1985

MG News | January 22, 2019 at 01:54 PM GMT+05:00

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January 22, 2019: The Securities and Exchange Commission of Pakistan has proposed amendments in the Companies Rules 1985 to minimize corporate disputes between shareholders and management or within the management.

Under the proposed amendments, shareholders of a private company shall have pre-emptive right to buy shares offered by any other shareholder.

The amendments also bind the company to send offer for new shares to the existing members at least 15 days before the last date of the acceptance of offer.

The payment of shares accepted by the member shall only be made through normal banking channel.

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