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Executive Bylaws - CMA

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Executive Bylaws

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  • February 17
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7-31 Of Module Eleven: Dealing in Securities
Section: Chapter Seven: Special Purpose Vehicle Companies
  • Sunday, 12 February 2017

    Managers of Special Purpose Vehicle Company may be removed by Authority resolution or court order based on a claim filed by one of the Bondholders or Sukukholders in the event that their conducts may negatively affect the public interest or the interest of the Bondholders or Sukukholders of the company or if their conduct does not serve the company’s purposes. In such case, the management of the company may be assigned to another entity decided by the Authority, until the company assigns a new managing entity approved by the Authority.

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