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Title: Resolution No. (70) of 2020 Regarding Amending and Adding Fees to the Fees Schedule Issued in Resolution No. (9) of 2016
Date Publish
16 August 2020
Having Perused:
- Law No. (7) of 2010 regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws and their Amendments; and
- Resolution No. (9) of 2016 regarding Issuance of the Fees Schedule issued on 11/02/2016 and its amendments; and
- Based on CMA Board of Commissioners Resolution passed in its meeting No. (20) of 2020 held on 29/7/2020
The Following Was Resolved
Article (1)
Amending Clause (22) of Article (One) of Resolution No. (9) of 2016 regarding issuing the fees schedule as per the following table:
|
Sr. |
Service |
Fee Amount (KWD) |
Maturity |
|
22 |
Request of Licensing the Marketing of a Collective Investment Scheme Incorporated Outside the State of Kuwait |
KWD 1000 |
Upon submitting the application |
|
According to the total value offered in the State of Kuwait The first category: KWD15,000 (fifteen thousand KWD) if the total value of marketable units offered in the State of Kuwait is less than KWD 50,000,000 (fifty million KWD). The second category: Three out of ten thousand (0.0003) if the total value of marketable units offered in the State of Kuwait is more than KWD 50,000,000 (fifty million KWD), and a maximum of KWD 30,000 (thirty thousand KWD). The third category: KWD 30,000 (thirty thousand KWD) if the offered price or the total value of marketable units offered in the State of Kuwait is not determined. |
Upon licensing annually |
Article (2)
The addition of a new Clause to Article (One) of Resolution No. (9) of 2016 regarding Issuance of the Fees Schedule according to the following:
|
Sr. |
Service |
Fee Amount (KWD) |
Maturity |
|
New Clause |
Request of increasing the marketable units of a collective investment scheme incorporated outside the State of Kuwait during the period of the marketing license. |
KWD 100 |
Upon submitting the application |
|
Three out of ten thousand (0.0003) of the total value of marketable units offered in the State of Kuwait that exceeds KWD 50,000,000 (fifty million KWD), and a maximum of KWD 15,000 (fifteen thousand KWD). |
Upon the issuance of the approval decision |
Article (3)
The concerned bodies shall execute this Resolution, each within its jurisdiction. This Resolution shall come into force from the date of its issuance, and it shall be published in the Official Gazette.
Prof. Ahmad A. Al-Melhem
Issued on: 16/08/2020
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