CMA LAW: Resolution No. (38) of 2016 Regarding Revoking the "Custodian" License of Osoul Investment Company (K.S.C.C.) and Amending the List of Licensed Activities in the Licensed Persons Register at the CMA

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

- Based on the request of Osoul Investment Company (K.S.C.C.) to revoke the activity of Custodian in order to amend the list of licensed activities in the licensed persons register at the CMA; and

- Based on the Extraordinary General Assembly of Osoul Investment Company (K.S.C.C.) held on 13/10/2015 on the approval of amending item (14) of Article (5) of the Memorandum of Association, and item (14) of Article (3) of the Company’s Articles of Association, and notating the same in the Commercial Register Department in the Ministry of Commerce and industry on 21/4/2016; 

The Following Was Resolved

Article (1)
The “Custodian” license of Osoul Investment Company (K.S.C.C.) is hereby revoked, and the list of the licensed activities in the licensed persons register at the CMA is hereby amended.

Article (2)
The Company remains a licensed person for other licensed securities activities, which are registered in the licensed persons register pursuant to its license that is issued by the CMA.

Article (3)
The concerned bodies shall execute this Resolution each within its jurisdiction. It shall come into force from the date of its issuance, and it shall be published in the Official Gazette. 

Dr. Faisal A. Al Fahad 
Acting Chairman, CMA Board of Commissioners – Managing Director 

Issued on: 12/5/2016   

Copy of the Official Document