You have unknown content passed to timer which can be dangerous.
Consider reading
this and using $safe() on $chan here because since your on text event listen on any channel, the value of $chan cannot be known beforehand and that can be exploited.
You should also use the 'n' switch on your $read and $readini, otherwise mIRC actually evaluates the content of the line being read as code, that can be dangerous as well.
