Article 87 Of Chapter 8

Section: Collective Investment Schemes

If the Authority issues a decision to revoke the license of a Collective Investment Scheme, it shall assign a licensed Person to liquidate the Scheme or shall request the Competent Court to do so. It shall, in such case, inform the Scheme manager and Custodian – immediately and in writing – of the procedures undertaken. The Authority shall specify rules and procedures for the liquidation of a Collective Investment Scheme.

* Article (87) is amended pursuant to Law No. 22 of 2015 Amending Some Provisions of Law No. 7 of 2010 regarding the Establishment of the Capital Markets Authority & Regulating Securities Activities.