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Title: Resolution No. (72) of 2015 the Issuance of the Executive Bylaws of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Amendments
Date Publish
12 November 2015
Having Perused:
- Law No. (7) of 2010 regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Amendments; and
- Based on CMA Board of Commissioners Resolution passed in its meeting No. (37) of 2015 held on 8/11/2015 regarding approving the issuance of the Executive Bylaws of Law No. (7) of 2010 and its Amendments regarding the Establishment of the of the Capital Markets Authority and Regulating Securities Activities.
The Following Was Resolved
Article (1)
Issuance of the Executive Bylaws of Law No. 7 of 2010 and its Amendments regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities.
Article (2)
Previous CMA resolutions and regulations as shown in Appendix 1 attached to this Resolution are hereby annulled.
Article (3)
Resolutions and regulations previously issued by Kuwait Stock Exchange as shown in Appendix 2 attached to this Resolution are hereby annulled.
Article (4)
Transitional provisions shall be enforced as per Appendix 3 attached to this Resolution.
Article (5)
Resolutions issued by the Capital Markets Authority and Kuwait Stock Exchange which have not been annulled pursuant to this Resolution remain valid, unless they conflict with the provisions of the Law and the Executive Bylaws attached to this Resolution.
Article (6)
Whatever conflicts with the provisions of the attached Executive Bylaws shall be annulled.
Article (7)
Without prejudice to the periods of regularizing situations and the enforcement of some provisions of these Executive Bylaws as set out in Appendix 3 attached to this Resolution, the provisions of these Executive Bylaws shall be effective as of the date of issuance and shall be published in the Official Gazette.
Dr. Nayef Falah Mubarak Al-Hajraf
Chairman, CMA Board of Commissioners
Issued on: 09/11/ 2015
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