CmaBylaw
Executive Bylaws
3-14 Delisting Of Module Twelve: Listing Rules
Section: Chapter Three: Listing Bonds and Sukuk
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Sunday, 12 February 2017
The Authority may cancel the listing of any Bonds or Sukuk listed on the Exchange in any of the following conditions: 1. If a final judgment or any resolution was passed to dissolve or liquidate the Issuer or Obligor. 2. If the Issuer or Obligor stopped practicing its licensed activities temporarily for more than a year. 3. If the Issuer or Obligor merges with another entity or person whereby such Merger leads to the termination of its corporate legal identity, or which includes the redemption of the issued Bonds or Sukuk, or the conversion of the whole or large part of the Bonds or Sukuk into a different form of Securities. 4. If there is redemption of all the listed Bonds or Sukuk before the final maturity date. 5. If there is conversion of all the listed Bonds or Sukuk into a different form of Securities. 6. If the Bonds or Sukuk are delisted in any regulated foreign Exchanges in outside the State of Kuwait. 7. If the Authority deems that delisting is necessary for protection of the investors or the maintenance of an orderly market.
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