These terms and conditions establish an agreement between the system users and the Capital Markets Authority (the “document”), and they specify the terms and conditions for using the Capital Markets Authority’s electronic systems via the Internet, which allow system users to create a special account to benefit from the services provided by the Authority, and to conduct many transactions related to the services. And obligations to natural and legal persons through the Authority’s electronic systems. Please read the document carefully before accepting its terms because it explains the system user’s responsibilities and his right to privacy of use. The system user is obligated to comply with all the terms and conditions set forth in this document when using the Authority’s electronic systems for legitimate purposes only and is prohibited from using these services for any purpose that conflicts with the laws, regulations, or socially acceptable standards of conduct and decency.

Definitions:

The Authority: Refers to the Capital Markets Authority, established under the provisions of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Amendments.
System user: Any natural person representing himself or a legal entity whether subject to the authority's supervision or not, who has been granted access by virtue of his capacity or authorization from the legal representative, and they are benefiting from the electronic systems, electronic services, and data issued by the systems,

Legal representative: The one who legally represents the company before others, and may be an individual or a Natural Person delegated by the board of directors, as stated in Law No. 1 of the year 2016 regarding the issuance of the Companies Law.

Acceptance of Terms of Use:

By using any of the Authority's services through its electronic systems, the system user acknowledges acceptance of all the terms and conditions stated in this document. The system user also agrees to comply with any modifications that may be made to these services from time to time without prior notice. The Authority reserves the right to modify any of the terms and conditions at any time.

Eligible Persons

The system user is considered eligible to use the Authority's electronic services once their data is complete and their registration is approved by the Authority. The system user is responsible for all transactions that arise from the use of the services. The system user is allowed to create secondary accounts for other system users within the institution and is responsible for managing these accounts and the data entered through them.

Registration in the Authority's Electronic Systems:

To request registration in the Authority's electronic systems, the system user must:

1. Submit an account creation request by registering in the Authority's electronic system and providing all required data and supporting documents.
   
2. Signing the Terms and Conditions document for the use of the Authority's electronic systems and submitting it as part of the registration application or when changing the legal representative of the legal entity. (The legal representative of the legal entity is the person responsible for signing the document and providing any required supporting evidence.)
   
3. The system user's email address is considered as the username, and it is necessary that the email address can be easily associated with the entity's name, such as matching the domain name of the website as shown in the figure below. The use of aliases should be avoided as much as possible.
   
4. Choose a password in accordance with the Authority's information security policies and conditions.

The system user submits the account creation request through the designated page. The Authority will provide the system user with an approval notice that includes registration instructions and a registration code. The Authority’s staff has the right to contact the system user to complete data or clarify information, and if contact with the system user cannot be established, the Authority will take the appropriate action.

Service hours for the Authority's electronic systems

The Authority provides its services through electronic systems around the clock, except during maintenance and updating times. Messages regarding maintenance times are displayed on the homepage of the system. The Authority is not responsible for information that fails to reach it due to system malfunctions or communication problems, nor for any losses or damages incurred by the system user as a result of these malfunctions. The system user must ensure the completion of data registration in case of disruption or fault.

Working Hours

The working hours of the Authority are from Sunday to Thursday, excluding public holidays, according to the working hours announced on the official website or through the telephone exchange.
Note: The service times in the Authority's electronic systems differ from regular working hours, as the Authority provides its services and calculates the time periods for some electronic forms according to working days and official hours. While access to the system, filling out, and submitting services are available to system users around the clock, any data, documents, or requests submitted outside official working hours will be handled or considered as submitted on the next working day.

Scope of the Document

The Authority's forms continue until they are cancelled by the system user or the Authority. The Authority reserves the right to change, stop, add, or modify any part of the services at any time without prior notice and any liability towards the system user .

Limits of the Authority’s Liability

The Authority is not responsible for any unauthorized use of the account. The user must immediately notify the Authority if they believe there is a breach of the password or unauthorized access to their main account or the secondary accounts authorized in the Authority's electronic systems.
The Authority may suspend or terminate the system user’s account even if it has not received notification from the system user if there is suspicion of unauthorized use.
When creating secondary accounts, the system user is responsible for all transactions performed by the authorized persons.
The Authority will not be responsible for incomplete transactions due to system malfunctions or circumstances beyond its control.
The Authority will not be liable for any loss or damage that the system user may incur as a result of using or being unable to use the electronic systems.

Password Protection

The user agrees to keep their password secure and confidential and to change it if they believe it has become known to unauthorized persons.
Authority staff will never ask system uses to disclose their passwords.

Acknowledgment of Security Procedures:

• The system user acknowledges full responsibility for any actions taken from their account.
  
• The system user commits to taking necessary care to ensure the safe use of the Authority's electronic systems.
  
• The system user is responsible for disabling any secondary accounts they have created.
  
• The system user acknowledges not to use the systems and services in an illegal manner or for illegal or fraudulent purposes.
  
• The system user acknowledges not to infringe on the intellectual property rights of any party through the use of the provided services.
  
• The system user acknowledges not to use the services in a way that may harm the systems and services of the first party.
  
• The system user acknowledges not to disclose or publish any information or data that is not authorized for publication.
  
• The system user acknowledges to protect the password and any other login data, ensuring the service account is safeguarded at all times from unauthorized access or misuse.

Application of Terms and Conditions:

• The system user is obligated to immediately notify the Authority of any changes to the information mentioned in the account creation or modification form or registration.
  
• The system user , legal representative and the document signatory acknowledge that they bear all consequences resulting from their actions or instructions through their account or any sub-accounts they create.
  
• The Authority may request the system user to provide or confirm certain information.
  
• The Authority is not liable for any loss or damage resulting from incorrect, inaccurate, unauthorized, or incomplete instructions or information.

The Authority reserves the right to refuse or delay the execution of registration requests on the Authority’s systems for various reasons, including non-compliance with these terms and conditions, the Authority's law and its executive regulations and amendments, or in case of suspected authorization.

Records

• The system user acknowledges the accuracy and correctness of all submitted documents and data.
  
• The Authority's records shall serve as conclusive proof of the accuracy and correctness of the transactions.

The system user fully accepts that the Authority records and updates data, information, and instructions in its electronic systems that are received through the account in the Authority's electronic systems or correspondences.

Applicable Law: This document is governed by and interpreted in accordance with the laws and regulations of the State of Kuwait. Any disputes arising from it are subject to the jurisdiction of Kuwaiti courts of all levels.

Terms and Conditions for Using the Authority's Electronic Systems

Access to the Authority's electronic systems, browsing, downloading, and copying from them, as well as the use of any information or materials related to the systems, is subject to the Terms and Conditions for Using the Capital Markets Authority Systems.

Acceptance of Terms

By accessing the Authority's electronic systems, the user acknowledges that they have read, understood, and agreed to the Terms and Conditions for Using the Capital Markets Authority Systems.

Effectiveness of Terms and Conditions

The Terms and Conditions for Using the Capital Markets Authority Systems apply to all system users, and the use of the Authority's electronic systems is subject to Kuwaiti law.

Intellectual Property Rights

The Authority retains copyright and intellectual property rights for all content and data within the systems and the software included, or for those rights it has obtained permission from the owner to include in the system.

Users of the Authority's electronic systems are permitted to copy, print, or download system content only within the allowed limits. Any copies made for this purpose must retain all copyright and proprietary notices, and the user is responsible to the Authority in case of violation of these conditions.

Prohibited Use

Users of the Authority's electronic systems are prohibited from copying, republishing, downloading, distributing, or storing any part of the data and pages of the systems or their contents in any other site or in any public or private electronic system for data extraction without prior written consent from the Authority.

Unless otherwise stated, trademarks and logos displayed on this site are the property of the Authority, and users are not allowed to copy or use these marks without prior written consent from the Authority.

Authority's Right to Restrict Access

The Authority reserves the right to refuse or restrict access to the electronic system content to any person or company at any time and for any reason.

Purpose of Information
The purpose of providing the information contained in the systems is to serve as a reference only and is not intended to provide legal opinions or financial advice. Therefore, users should consult a qualified and specialized financial or legal advisor if they need such advice.

Accuracy of Information

The Authority makes efforts to ensure that the information displayed on this site is as accurate and complete as possible at the time of display, but it does not guarantee the quality, accuracy, timeliness, and completeness of any such information at any time. The content of this site is provided "as is" without any conditions, warranties, or other terms of any kind. The Authority is not liable (whether in contract, tort, or otherwise) for any losses or damages resulting from any use of this site or its content (including losses and damages resulting from negligence).

Updating User and Entity Data on the Authority's Electronic Systems

Users of the Authority's electronic systems must update entity data, including contact information and management of secondary account permissions linked to the main account, whenever changes occur through the Authority's systems. If updating through the system is not possible, the Authority should be notified immediately.

Disclaimer of Liability

The Authority expressly disclaims any liability and does not make any representations or warranties of any kind, whether express or implied, regarding the site, the accuracy, timeliness, completeness, or use of the information contained or available in it, or any services or products described or promoted on the site.

The Terms and Conditions for Using the Capital Markets Authority Systems do not constitute a waiver of liability or any notice attached to any communications or transmissions received from the user.