SECP temporarily relaxes condition about female directors

ISLAMABAD, March 1: The Securities and Exchange Commission of Pakistan (SECP) has granted a temporary general relaxation/exemption to listed companies from appointment of female director on their board of directors as required under Regulation 7 of the Listed Companies (Code of Corporate Governance) Regulations, 2017.

The regulations were notified vide S.R.O. 1216(I)/2017 dated November 22, 2017, to come into effect on January 1, 2018. Regulation 7 requires that the BOD shall have at least one female director when it is next reconstituted not later than expiry of its current term or within the next one year from the effective date of these regulations, whichever is later.