Jordan Securities Commission Issues a Circular to Public Shareholding Companies on June 11.2013
11-Jun-2013
On June 9.2013, Jordan Securities Commission (JSC) issued a circular to Public Shareholding Companies (PSCs) requesting them to provide the Commission with a semi-annual report & to publish it within a period of time not exceeding thirty days of the end of their bi-annual fiscal year.
The circular is issued by virtue of the provisions of Article (43/A-2) of the Securities Law No. (76) of the Securities Law for the year 2002 & the provisions of Article (6/A) of the Instructions to Issuing Companies Disclosure, Accounting & Auditing Standards.
Article (6/A) stipulates the following: “The Board of Directors of the issuing Company shall prepare a comparative semi-annual report & provide the Commission therewith, such report shall be published within one month from the date of the end of that period”.
Furthermore, the Commission indicated that it will take procedures & measures against violating companies including suspending their trading of their shares in the Amman Stock Exchange (ASE).