Audit Oversight Board

On 15 March 2018, in exercise of the powers conferred by section 40B of the Securities and Exchange Commission of Pakistan Act, 1997 (XLII of 1997), read with clause (i) of section 36H thereof, the Securities and Exchange Commission of Pakistan has notified that a “public interest company” shall mean a company which falls under the criteria of “public interest company” as laid down in the Third Schedule to the Companies Act, 2017 (XIX of 2017).

On 03 October 2019, in exercise of the powers conferred by sub-section (2) of section 507 of the Companies Act, 2017 (XIX of 2017), the Securities and Exchange Commission of Pakistan has altered the Third Schedule to the Companies Act, 2017.

Therefore, with effect from 03 October 2019, the following are public interest companies for the purposes of SECP Act 1997:

Categories of Public Interest Companies

With effect from 06 July 2020, “all companies engaged in production and sale of sugar” are included in the Third schedule to the Companies Act, 2017.

SECP Notification – 06 July 2020