On 3 March 2025, PAK SEC notified that all unlisted firms newly incorporated from 3 March 2025 shall hold and issue shares in book-entry form only, not in physical form. The notification specifies CDS-issued documents, relevant returns on the prescribed form notifying detail of changes in shareholding that the unlisted firms must attach. PAK SEC…
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Luxembourg – CB FDI Investment Data RE: Shareholding
On 3 March 2025, LUX CB issued circular letter on FDI data collection. LUX CB issued circular letter ST.25-0026 on foreign direct investment (FDI) survey. Also published the documents on survey and guide on foreign direct investment 2024. Composed of 4 questionnaires including questionnaire 1 general information; questionnaire 2 shareholding; questionnaire 3 holdings; questionnaire 4…
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Poland – Gov’t Non-Public Company Shares Re: Shareholding
On 25 February 2025, POL GVT issued a draft of commercial company code changes. POL GVT published a Draft act amending the Commercial Companies Code and certain other acts, coordinated by the Minister of Justice, on changes to shareholding rules. Follows POL GVT September 2019 amended the code on shareholder registers. Draft Overview The Act…
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Japan – FSA 4th Edition of Disclosure Guide Re: Shareholding
On 3 February 2025, JPN FSA issued the 4th edition of 2024 examples of good disclosure practices on corporate governance, shareholding based on 4th study group session's discussions. Additions concern overview of corporate governance, audit, and shareholding status.
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Singapore – MAS Revised FAQs Re: Shareholding
On 28 January 2025, SIN MAS revised FAQs on licensing of fund management companies. Removes specific thresholds (e.g., 20% shareholding or voting power) for determining effective control, and provides a direct URL to the application form.
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China – CSRC Threshold for Equity Changes Re: Shareholding
On 10 January 2025, CHI CSRC issued interpretation for acquisition / takeover measures. CHI CSRC issued Interpretation no. 19 to clarify, standardize the application of articles 13 and 14 of the Measures for the administration on acquisition / takeover of listed companies. Interpretation Details Thresholds of 5%, 1% in articles 13, 14 apply only to…
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