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Directorship of Companies & Corporate Governance
10-12-2010, 09:10 PM,
#12
 
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by awaisaftab</i>
<br />Before one and half year ago I wrote this topic and a healthy debate made here as every one can see.

Now SECP has issued Draft of Revised Code of Corporate Governance for listed companies. Under revised code no person shall be appointed as a director of more than five listed companies simultaneously.

Draft of Revised Code of Corporate Governance can be viewed at following link

http//www.secp.gov.pk/corporatelaws/pdf/Amended_Code_Corporate_Governance_6Oct2010.pdf


Regards,

Awais Aftab


<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">


Dear All Readers,

In the year 2003 a study was undertaken by SECP to find the post implementation effects of Code of Corporate Governance. Pursuant to such study a report was issued (publicly available at the website of SECP) having title “IMPACT ASSESSMENT OF THE CODE OF CORPORATE GOVERNANCE 2002”. This report can be obtained from following URL

http//www.secp.gov.pk/Reports/ImpactStudyCCG.pdf

This study based upon real life scenario of 40 companies (out of 95 selected for this purpose) and was completed after getting detailed feedback and having many debates.

In its chapter 7 “Policy Recommendations” this report proposed various “Short Term Measures” and “Medium Term Measures”. The said report categorically included reducing the limit of 10 companies for a listed company’s director to 5 companies in the proposed “short-term Measures” (Paragraph 7.1 and Page 36).

Anyone can download the report from above URL and check paragraph 7.1, page 36 of the said report.

Apart from the above, the survey undertaken by IFC on CCG implementation in Pak has also criticized the limit of 10 companies for the directors of listed companies.

I am adding no comments, rather simply presenting a self-speaking situation. I think we should avoid the habit to click the ideas of others and tag them with our names. I already warned that such practices are not good.

We should have the courage and should learn to speak truth. This will enhance our own respect. In any manner, knowledge sharing is not bad; provided we don't hide the facts.


Regards,

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Messages In This Thread
[No subject] - by malikzshan - 03-18-2009, 05:59 PM
[No subject] - by wasim akram - 03-18-2009, 06:50 PM
[No subject] - by malikzshan - 03-19-2009, 02:22 PM
[No subject] - by awaisaftab - 03-19-2009, 03:46 PM
[No subject] - by danishayub_76 - 03-19-2009, 09:34 PM
[No subject] - by wasim akram - 03-20-2009, 02:01 AM
[No subject] - by wasim akram - 03-20-2009, 02:09 AM
[No subject] - by awaisaftab - 03-20-2009, 11:49 PM
[No subject] - by wasim akram - 03-21-2009, 08:28 PM
[No subject] - by awaisaftab - 03-24-2009, 03:44 PM
[No subject] - by kamranACA - 10-12-2010, 09:10 PM
[No subject] - by kamranACA - 10-13-2010, 05:48 PM

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