MUSCAT: The Financial Services Authority (FSA) has instructed public joint-stock companies and investment funds to submit general assembly invitation announcements for the Authority’s approval at least seven working days before the start of the legally required publication period.
Under the Commercial Companies Law, the publication period must begin no less than 15 days before the scheduled meeting date. The FSA said the additional lead time is needed to allow proper review of agenda items and to ensure compliance with applicable laws and regulations before invitations are circulated to shareholders.
The directive follows the Authority’s observation that some companies and funds have been submitting invitations too close to the publication deadline, leaving insufficient time for review.
In Circular No (6/2025), the FSA said the measure is part of ongoing efforts to strengthen regulatory standards for convening general assemblies, particularly during the annual general assembly season for most public joint-stock companies and investment funds whose financial year ends on December 31.
The Authority also stressed that invitations — including the agenda — must be submitted through approved channels, with all required documents fully completed. It added that all enquiries and correspondence related to general assemblies must be conducted exclusively via the officially designated email address.
The FSA said responsibility for meeting the specified timelines rests with companies, investment funds and their legal advisers, noting that compliance supports sound legal procedures, protects the rights of shareholders and unitholders; and reinforces the central role of general assemblies in corporate governance and key decision-making.
The FSA’s mandate includes regulating the convening of general assemblies by organising timelines; and reviewing and approving invitation announcements to ensure shareholders can exercise their legitimate rights.
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