The securities regulator has imposed a condition on holding annual general meeting (AGM) of listed companies within the city, town or locality in which the companies' registered office is situated, officials said.
The fresh condition was imposed Thursday through a notification, which was signed by the chairman of the Bangladesh Securities and Exchange Commission (BSEC) Prof M Khairul Hossain, with an immediate effect.
The BSEC imposed the condition under the section 2CC of the Securities and Exchange Ordinance, 1969.
"The Annual General Meeting (AGM) of a listed company shall be held within the city, town or locality in which the registered office of the company is situated; Provided that the Commission may, in special circumstances, upon application of the company, permit for holding of such AGM at any other place," the BSEC notification reads.
Mohammad Saifur Rahman, a BSEC executive director and spokesperson, said the BSEC notification came following an instruction of the High Court (HC).
"A listed company recently sought extension of time for holding AGM. The court accepted the company's plea along with delivering the order of holding AGM in the places where the companies' registered office is situated. The BSEC has also issued the notification following the court's order," Rahman said.
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