LAHORE: Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) organized a seminar on “Corporate Compliance” with Securities and Exchange Commission of Pakistan (SECP) at PCJCCI Secretariat on Thursday.
The session was a full-day event attracting huge interest from diverse stakeholders comprising representation from companies, multilateral institutions, professional bodies, capital market institutions, and business forums.
The keynote speakers for the session was Saeedullah, Registrar/In charge, Company Registration Office, Lahore, SECP and Ms Sidra Mansur, Additional Registrar.
This interactive Seminar is aimed at creating awareness and enhancing compliance rate of companies and included questions and answers session with regards to Corporatization and Corporate Compliance.
Moazzam Ghurki, President PCJCCI said during his welcome address that PCJCCI aims to provide a vibrant platform for its member companies and business community to enhance their knowledge and also to aware them with contemporary business techniques.
Saeedullah, Registrar/In charge, Company Registration Office, Lahore, SECP said that SECP has remained a strong proponent of a robust disclosure-based regime and therefore, a cohesive sustainability reporting framework by International Sustainable Standards Board (ISSB) shall facilitate inclusive economic growth.
He discussed that the main agenda of this session is to highlight Post incorporation statutory compliance requirements under the companies’ act 2017. Statutory registers are more than mere record-keeping; they are the foundation of your company’s legal post-incorporation compliances.
A common question people ask after incorporating a company is about the steps after incorporation of the company. Since a company is a fictitious person and does not have a corpus of its own, it is managed by natural persons. For the management of a company, there are certain post-incorporation procedures and requirements.
Following are the key points which should be considered; Get CTC of Company Documents, Open Bank Account, Deposit Subscription Money in the Bank Account, Appoint Auditor of the Company, Prepare and Maintain Necessary Registers, Prepare and Maintain Books of Accounts, Meetings of the Board of Directors, Resolution by Circulation.
Ms Sidra Mansur, Additional Registrar SECP further discussed the points which include, Appointment of Company Secretary, Requirement of Legal Advisor and Event based filing.
She further said that this session is an opportunity for synergizing with key stakeholders around a cohesive strategy and tangible action plan shared by SECP.
Hamza Khalid, Vice President PCJCCI and Salahuddin Hanif, Secretary General PCJCCI thanked the participants and said that we hope such innovative and informative sessions will definitely help the young entrepreneurs and business community to get their venture registered under SECP.
Copyright Business Recorder, 2023
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