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Executive Bylaws - CMA

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Executive Bylaws

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11-69 Sukuk Notifications Of Module Eleven: Dealing in Securities
Section: Chapter Eleven: Sukuk Regulations
  • Tuesday, 14 February 2017

    An Issuer and an Obligor shall notify the Authority, Representative, Clearing Agency and manager of a Special Purpose Vehicle Company in the event of: 1. Declaration of non-payment of any Periodic Distributions related to Sukuk or Securities issued or secured by it. 2. Proposed new issue of Shares, Sukuk, Securities, security or collateral related thereto. 3. Changes proposed in the capital. 4. Any transaction of purchase, redemption or cancellation of Shares, Sukuk or Securities issued or secured thereby immediately upon purchase, redemption or cancellation. The amount due in respect of such transactions shall be disclosed as well. 5. Bringing forward the deadline of Sukuk redemption, if any, 6. Changes to the rights related to any class of its listed Shares or to other Sukukor Securities convertible into Shares issued or secured by it. 7. Proposed major changes to the Company Contract or other development that may affect Sukuk related rights.

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