Section 216 — Company deemed to be a public interest company in certain circumstances

(1) Notwithstanding anything contained in this Act, a company
shall be deemed to be a company with public interest as envisaged in the Third
Schedule.

(2) Upon being deemed as a company with public interest, the company
shall be required to comply with such disclosure and reporting requirements as may
be specified by the Commission.

(3) The Commission may as specified, after giving an opportunity of
hearing to a company or class of companies, by an order in writing exempt such
company from the requirements of this section if the Commission determines that
such exemption is in the interest of the public:

Provided that such order shall be posted on the official website of the
Commission.