Title: Resolution No. (122) of 2019 Regarding Renewal of the Securities Activities License of Kuwait Clearing Company 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
 
- The securities activities license certificate of Kuwait Clearing Company No.(AP/2016/0016) issued on 04/07/2016; and
 
- The application submitted by Kuwait Clearing Company to renew the license of the securities activities at the CMA; and

- CMA Board of Commissioners Resolution passed in its meeting No. (24) of 2019 held on 24/07/2019; and

-  Resolution No. (149) of 2018 regarding amending the final approval of authorizations for the Supervision Sector’s procedures issued on 25/11/2018.  

 
The Following Was Resolved
 
Article (1)
The securities activities license of Kuwait Clearing Company at the CMA is hereby renewed for practicing the activities of clearing agency to provide:
- Central Securities Depository 
- Settlement and Clearing 

The license is valid for three years, renewable after paying the specified fees, starting from 04/07/2019. 
 
Article (2)
Resolution No. (110) of 2019 Regarding Renewal of the Securities Activities License of Kuwait Clearing Company at the CMA issued on 03/07/2019 is hereby withdrawn.

Article (3)
The concerned bodies shall execute this Resolution, each within its jurisdiction. This Resolution shall come into force from 04/07/2019, and it shall be published in the Official Gazette.

Prof. Ahmad A. Al-Melhem

Issued on: 29/07/2019

Copy of the Official Document