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Title: Circular No. (06) of 2022
Date Publish 12 May 2022


“Circular to All Licensed Persons”

Based on the provision of Item (10) of Article (1-18) of Module Five (Securities Activities and Registered Persons) of the Executive Bylaws of Law N. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and their amendments, and Article (11) of the Executive Bylaws of Law No. 1 of 2016 Regarding the Issuance of the Companies Law concerning obtaining CMA’s prior approval on any amendment to the company’s contract.

We would like to draw the attention of all licensed persons to the importance of complying with the provisions of the mentioned Articles, provided that amending the company’s objectives shall be in line with the titles of the securities activities included in the Executive Bylaws of Law No. 7 of 2010 previously mentioned.

Accordingly, in the event of intending to hold an extraordinary general assembly, it is required to include the item of amending the company’s objectives stipulated in the Memorandum and Articles of Association in line with the titles of the securities activities included in the Executive Bylaws of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and their amendments and remove the objectives related to the securities activities included in the company’s contract that are not licensed by the CMA.

Prof. Ahmad Al-Melhem

Issued on: 12/05/2022

Copy of the Official Document

Disclaimer: The information provided on this page is for reference purposes only, visitors are encouraged to review and understand the information provided in the official scanned document attached in the link above (if available). The CMA endeavors to ensure that the information on this page is complete and accurate, but the CMA does not guarantee the quality, accuracy, or completeness of any content at any time. In the event the information on this page is different from the content in the official scanned document attached in the link (if available), the official scanned document attached shall take precedence.

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