A Listed Company shall prepare a list of its Insiders as per Appendix 5 of this Module, and submit it to the Authority and the Exchange taking the following into consideration: 1. To name its Insiders in a Listed Company as shown in Article (3-1-2) of this Module. a. To enact effective contractual arrangements that require other Insider entities to maintain a list of its employees who have access to Inside Information related to the Listed Company and its clients. b. To enact effective contractual arrangements that require other Insider entities to provide the Listed Company with a list of its employees who have access to Inside Information related to the Listed Company and its clients. 2. The Listed Company shall update the corporate Insiders watch list and submit to the Authority and the Exchange an updated list upon the occurrence of the following events: a. When the reason behind listing an existing Person is changed. b. When a Person, who is not mentioned in the list, becomes an Insider. c. When a Person who is mentioned in the list no longer holds Insider status.