ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has allowed the listed companies to conduct E-Voting for taking important decisions during their annual general meetings.
Senior SECP officials informed media here on Wednesday that the SECP has devised a detailed procedure of e-voting for the listed companies.
In case of e-voting, company secretary shall provide members with web address, login details, password, dates of casting e-vote and other necessary details through email. In order to maintain confidentiality, security codes shall be generated through SMS from web portal of e-voting service provider or electronic signature within seven days from the day on which poll is demanded and in case of election of directors not later than seven days before the date of general meeting.
Company secretary shall ensure that agenda items for which poll was demanded are correctly uploaded in the web portal of e-voting service provider and shall resolve any grievances of members to enable them to cast vote through e-voting.
Company secretary shall coordinate with share registrar and e-voting service provider to ensure that participation instructions have been shared with the members prior to the meeting. Company secretary shall also ensure that contingency plan is in place in case of electronic disruption.
The procedure for e-voting revealed that the Company secretary shall ensure that the facility for e-voting shall remain open for not less than three days and shall close at 1700 hours (Pakistan Standard Time) on the date preceding the date of the poll and identity of the members intending to cast vote through e-voting shall be authenticated through electronic signature or authentication for login (email and SMS).
Share registrar shall ensure that confidentiality of information is maintained at all cost and especially in such cases where Share Registrar is also serving as E-voting service provider. Share registrar shall make sure that no such conflict of interest exists with regard to discharging of its duties. For example, appropriate measures have been taken for the meeting in which the matter of appointment of Registrar is to be considered.
Company secretary shall ensure to provide facility of video link, through Zoom or any other electronic means to maximise members’ participation in such meeting in addition to arranging venue for holding physical meeting. Company secretary shall coordinate with share registrar and E-meeting service provider and shall ensure timely dissemination of instructions regarding participation and voting in E-meeting, the officials added.
Copyright Business Recorder, 2022
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