CmaBylaw
Executive Bylaws
7-25 Of Module Eleven: Dealing in Securities
Section: Chapter Seven: Special Purpose Vehicle Companies
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Sunday, 12 February 2017
The entity to which the management of the Special Purpose Vehicle Company is assigned shall be in charge of the following: 1. Prepare the minutes of meetings of the Board of Directors or management, including the record of negotiations of such meetings, proposed resolutions and voting procedures. 2. Prepare the financial statements and records required in accordance with the contract of the Special Purpose Vehicle Company. 3. Submit any notification or representation required in accordance with the Law and these Bylaws. 4. Notify the Obligor five Business Days before the maturity date of any amounts under the conditions stipulated in the Prospectus to deposit such amounts in the account opened by the Paying Agent for paying the Periodic Distributions and redemptions in the name of the company. 5. Notify the Clearing Agency of redemption of Bonds and Sukuk wholly or partially, in case the conditions of redemption are fulfilled and provide it with the proof of fulfilling the redemption conditions. 6. Other duties and responsibilities stated in the contract of the Special Purpose Vehicle Company.
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