CmaBoardReleases
Title: Resolution No. (113) of 2018 Regarding Cancelling the Securities Activities License of Osoul Investment Company 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 application submitted by Osoul Investment Company to cancel the securities activities license of Subscription Agent and amend the list of licensed activities in the licensed persons register at the CMA on 14/03/2018; and
- Based on the Extraordinary General Assembly Meeting of Osoul Investment Company held on 10/06/2018 regarding the approval of amending the Company’s activities that were established pursuant to the provisions of Commercial Companies Law No. (15) of 1960, and the notation of that in the commercial register at the Ministry of Commerce & Industry on 22/07/2018; and
- Resolution No. (20) of 2018 on amending the final approval of authorizations for the Supervision Sector’s procedures issued on 11/02/2018.
The Following Was Resolved
Article (1)
The securities activities license of Subscription Agent for Osoul Investment Company is hereby cancelled and the list of licensed activities in the licensed persons register at the CMA are hereby amended.
Article (2)
The Company shall remain a licensed person for the other licensed securities activities and registered in the licensed persons register, pursuant to the license issued by the CMA.
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.
Zeyad Al-Fulaij
Acting Head of Supervision Sector
Issued on: 09/08/2018