CmaBylaw
Executive Bylaws
3-5 Listing Application Of Module Twelve: Listing Rules
Section: Chapter Three: Listing Bonds and Sukuk
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Sunday, 12 February 2017
The Listing Application shall be signed by the Issuer or Obligor and submitted to the Authority on the form prepared for this purpose, accompanied by the following documents: 1. An authorization letter from the Issuer or Obligor - as applicable - to the Listing Advisor for following up with the process of listing the Bonds or Sukuk on the Exchange. 2. Copy of the Company Contract of the Issuer, Obligor and Guarantor pursuant to the applicable laws in the country of its incorporation and a copy of all the amendments that occurred to the same. 3. Basic and financial details of the Issuer or Obligor - as applicable - as follows: a. The name of the Issuer or Obligor - as applicable - and its legal form. b. The amount of the capital. c. The Issuer or Obligor - as applicable - main licensed activities and its relationship with any other holding, Subsidiary, Associate or Ally company.d. The list of the names of the Members of a Board of Directors. e. The list of the authorized signatories and sample of signatures. f. The country in which the Issuer or Obligor - as applicable - and the place of its headquarters are incorporated. g. The name and address of the external Auditor and the external Sharia Audit Office. h. Copy of the company’s shareholders register issued by a Clearing Agency. i. Copy of the Prospectus. j. Copy of the Trust Document, if any. k. Copy of the guarantee of the issuance, as applicable. 4. The approved original copy of the audited financial statements of the Issuer or Obligor - as applicable - and any other guarantor for the last three financial years prior to the submission of the Listing Application, in addition to the latest audited quarterly financial statements if more than three months have passed since the last annual financial statements of the company. In case where the Issuer is a Special Purpose Vehicle Company set up for the purposes of issuing Asset-Backed Bonds or Asset-Backed Sukuk, this requirement shall not be applied. 5. A copy of the Board of Directors or the related management of the Issuer or Obligor to approve the Listing Application. 6. In case of Guaranteed Issue, a copy of the resolution of the Board of Directors’ or the Administrative Authority to the guarantor approving the Listing Application, in the case of a guaranteed issue of Sukuk . 7. A copy of the approval sought from the Authority or any other Regulatory Bodies for the Bonds or Sukuk issue, in addition to a letter from the Listing Advisor of the Issuer - as applicable - confirming that all the necessary approvals has been obtained. 8. An undertaking or acknowledgment from the Board of Directors or members of the Administrative Authority of the Issuer or Obligor - as applicable - to comply with the applicable laws, regulations and resolutions of the Authority and the Exchange and provide all information and statements required by the Authority and the Exchange while ensuring that such information and statements are accurate and true. 9. With regards to the SukukIssued outside the State of Kuwait, a copy of the report of the external Sharia Audit Office or the legal opinion of the Sharia Audit Officer approving the issue and trading of Sukuk. 10. A legal opinion from the Issuer and Obligor’s external legal advisor setting out all the cases or group of cases filed for or against the Issuer or Obligor that have a material effect on the financial position of the Issuer or Obligor, including amounts and details of such claims. 11. A detailed report on the assets of the Issuer or the Bond Assets or SukukAssets related to the indirect issuances, issued by its Auditor stating that these Assets have been valued in accordance with generally accepted rules and standards. The Authority may request a copy of these valuations. 12. Payment receipt of the Listing Application fees to the Authority. 13. Other documents required by the Authority from the Issuer, Obligor, Originator or Guarantor, as applicable.
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