Pakistan: The Companies (Amendment) Act 2021

The Companies (Amendment) Act 2021 came into force last month. A copy of the Act is available here (pdf). An overview of the Act, published by the SECP, is available here (pdf). Amongst other things, the Act has reduced from ten to five per cent the threshold required for shareholders to call a meeting.

India: MCA proposes changes to the Insolvency and Bankruptcy Code 2016

The Ministry of Corporate Affairs is consulting on changes to the Insolvency and Bankruptcy Code 2016: see here (pdf).

IAASB consultation on new standard for the audits of less complex entities

The deadline for responding to the IAASB consultation on a new standard for the audits of less complex entities, 31 January 2022, is fast approaching. For further information, see here.

Hong Kong: HKEX confirms corporate governance reforms

The Hong Kong Exchange (HKEX) has confirmed, following the conclusion of a consultation last year, the changes it will make to its corporate governance code and listing rules: see here (pdf). A corporate governance guide for boards has also been published: see here (pdf).

UK: Government consults on implementing OECD Pillar 2 Model Rules

The Government has published a consultation paper concerning its implementation of the OECD's Pillar 2 Model Rules (the framework designed, amongst other things, to introduce, internationally, a minimum rate of corporation tax): see here (pdf). An overview of the OECD's Rules can be found here (pdf).