CMA LAW: Resolution No. (81) of 2015Regarding Approving the Detailed Plan of the Means of Accomplishing the Passing and Receiving Operation of Kuwait Stock Exchange

Having Perused:

- Law No. (7) of 2010 regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Amendments.

- Resolution No. (72) of 2015 on issuing the Executive Bylaws of Law No. (7) of 2010 regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Amendments.

- Resolution No. (80) of 2015 regarding Authorizing Boursa Kuwait Securities Company (BKSC) to manage all material and intellectual assets of Kuwait Stock Exchange and to undertake the administrative and financial functions required for administering the Exchange’s entity.

- CMA Board of Commissioners' Resolution passed in its meeting No. (43) held on 21/12/2015 regarding Approving the Detailed Plan of the Means of Accomplishing the Passing and Receiving Operation of Kuwait Stock Exchange.

The Following Was Resolved

Article (1) The detailed plan attached to this Resolution on the passing and receiving of Kuwait Stock Exchange from the Market Committee to Boursa Kuwait Securities Company (BKSC), while taking into consideration that the percentage of Kuwaiti employees is not less than 75% of the total number of the company's employees, which shall be on April 25, 2016 is hereby approved. CMA Data Classification:

Public 2 Article (2) Mr. Khalifah Abdullah Al-Ajeel is hereby authorized to supervise the tasks of the work team responsible for the passing and receiving operation of Kuwait Stock Exchange. He will issue all resolutions necessary for executing the approved detailed plan, following up the implementation, and contacting any entity for such purpose. 

Article (3) All CMA sectors and departments, BKSC, and Kuwait Stock Exchange – each in its own jurisdiction – shall execute this Resolution. It shall come into force from the date of its issuance. Dr. Nayef Falah Al-Hajraf

Disclaimer: The information provided on this page is for reference purposes only, visitors are encouraged to review and understand the information provided in the official scanned document attached in the link above (if available). The CMA endeavors to ensure that the information on this page is complete and accurate, but the CMA does not guarantee the quality, accuracy, or completeness of any content at any time. In the event the information on this page is different from the content in the official scanned document attached in the link (if available), the official scanned document attached shall take precedence.