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+--- Thread: compliance of sec 245 of companies ordinance (/thread-compliance-of-sec-245-of-companies-ordinance)
compliance of sec 245 of companies ordinance - zaid ali - 10-19-2010
sec 245 of companies ordinance states that "every listed company shall within one month of close of first second and third quarter of its year of accounts , prepare and trnsmit to the member and stock exchange"
the general practice of submission of half year accounts is two months.
- ciapk - 10-19-2010
Dear Zaid,
It is not a non compliance as The Commission, considering the practical difficulties faced by the companyâs management, has granted a general relaxation of one month to the listed companies,
permitting them to circulate second quarter accounts with limited scope review by their statutory auditors within a period of two months of the close of second quarter.(Commissionâs Circular 9 dated March 19, 2003)
Regards,
- zaid ali - 10-20-2010
thank you dear for helping me out