The Securities and Exchange Commission of Pakistan (SECP) in collaboration with the Lahore Chamber of Commerce and Industry (LCCI) organised a consultative session on the draft Companies Bill at LCCI. Eminent chartered accountants, lawyers, corporate consultants, professionals, businessmen, company secretaries of leading companies, members of the LCCI Executive Committee and senior officials of the SECP attended the session.
The SECP Commissioner Company Law Division, Tahir Mahmood, Abdul Rehman Qureshi, Advisor to the Commission and Registrar of Companies, Jawed Hussain were also present. Jawed Hussain, Registrar of Companies made a detailed presentation to participants on the substantial changes proposed through the draft Bill. He highlighted facilitation measures for the corporate sector and other stake holders being introduced in new law. He also briefed the audience on measures incorporated to strengthen the existing regulatory frame work, steps towards adoption of technology and specific provisions to safeguard the rights and interests of strategic investors.
Hussain said that the new concepts that are being practiced in other international jurisdictions have also been adopted in draft law to attract foreign investments. The presentation was followed by a very productive feedback from the participants on various aspects of the draft Bill. The response of the participants was appreciated and noted for further deliberation at the relevant quarters and for finalising the draft Bill. Earlier, Sheikh Muhammad Arshad, President LCCI welcome the guests and appreciated SECP's efforts for revamping the corporate law.-PR