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Executive Bylaws - CMA

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Executive Bylaws

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  • February 17
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5-3 Of Module Twelve: Listing Rules
Section: Chapter Five: Final Provisions
  • Sunday, 12 February 2017

    The Authority may oblige the parties referred to in Article (1-2) of this Module, which their Securities listing are cancelled or delisted from the Main Market or the Parallel Market to apply for re-listing in this market. These parties may also apply for re-listing of their Securities in the Main Market or Parallel Market, provided that the requirements necessary for listing in this market shall be fulfilled. These companies shall be exempt from the application of Item I and Item (5) of Article (2-1-2) of this Module if they are obliged by the Authority to re-listing. The Authority may exempt these companies from some of these requirements or other conditions, or demand additional requirements if this exemption is given for considerations regarding the state of the market, the national economy in general or for protection of small shareholders. In the case of non-compliance of these parties with the provision stated in the first and second paragraphs of this Article, the Authority may demand from the concerned official authorities to suspend the activities of this Module, with the exception of the following cases: 1. Fully state-owned companies. 2. Companies which transferred from a Public Shareholding Company to a Closed Shareholding Company or other forms of companies. 3. Companies in which a Person owns, directly or indirectly, more than 75% of its capital Shares.

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