CMA LAW: Resolution No. (1) of 2014 of CMA Board of Commissioners Regarding Amending Corporate Governance Regulations for Companies Regulated by Capital Markets Authority

Resolution No. (1) of 2014

of CMA Board of Commissioners

Regarding

Amending Corporate Governance Regulations

for Companies Regulated by Capital Markets Authority

Having Perused:

- Law No. (7) of 2010 regarding the Establishment of Capital Markets Authority and Regulating Securities' Activity and its Executive Bylaw; and

- Resolution No. (25) of 2013 of CMA Board of Commissioners regarding issuing corporate governance regulations for companies regulated by Capital Markets Authority No. (C.M.A./S.S./C.G./3/2013) held on 24/12/2013.

The Following Was Resolved

Article One

Item (a) paragraph (4) of principle (2/1) of Rule No.1 of the Corporate Governance Regulations for companies regulated by Capital Markets Authority shall be amended to be as follows:

"4- To be a Board of Directors' member in any company of its group, or in the one that is part of its group."

Article Two

This Resolution shall take effect from the date of its issuance.

Saleh Mubarak Al-Falah

Chairman, CMA Board of Commissioners

Issued on: 5/1/2014

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