Circular No. 7 of 2025 — Holding of Election of Directors
Legal basis
Section 510 read with Section 458A
What it does
Addresses a practical gap: companies under s.158/s.161 were holding a separate EOGM days after the AGM just to elect directors. SECP permits holding the election in the AGM itself where it falls due shortly after. Effective appointment date remains the actual date the outgoing board's term completes - the AGM date does not override it. Supersedes Circular 03/2006.