CmaBoardReleases
Title: Resolution No. (75) of 2017 Regarding the License Request Submitted by BDO Consulting Co. WLL to Practice Securities Activities Pursuant to Law No. (7) of 2010 on the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws and their Amendments
Having Perused:
- Law No. (7) of 2010 on the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws and their amendments; and
- Resolution No. (139) of 2016 on Extending the Transitional Provisions’ Period Concerning Performing the Activity of Valuation of Assets by Audit Offices of Auditors Registered with the Authority issued on 29/12/2016; and
- The license request submitted by BDO Consulting Co. WLL; and
- CMA Board of Commissioners Resolution passed in its meeting No. (21) of 2017 held on 24/05/2017.
The Following Was Resolved
Article (1)
BDO Consulting Co. WLL is hereby granted a preliminary approval for licensing the activity of an Assets Valuation.
This approval is valid for six renewable months starting from the date of preliminary approval letter issued by the CMA to complete the legal procedures of amending the memorandum of association by adding the required activity to be one of the objectives of the company’s incorporation or to meet certain criteria.
Article (2)
The mentioned company is hereby licensed after completing the requirements mentioned in the in the preliminary approval letter issued by the CMA for three renewable years from the date of issuing CMA’s license certificate, and after paying the prescribed fee when obtaining the license. The mentioned company shall pay the fee when renewing the license for any other term(s) pursuant to CMA’s Law and its Executive Bylaws and their amendments, and to CMA’s resolutions and regulations.
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.
Dr. Nayef Falah Al-Hajraf
Chairman, CMA Board of Commissioners
Issued on: 05/06/2017