Title: Resolution No. (11) of 2021 Regarding Amending Some Provisions of the Executive Bylaws of Law No. (7) of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and their Amendments

Having Perused:

- Law No. (7) of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws, and their amendments; and

- CMA Board of Commissioners Resolution passed in its meeting No. (4) of 2021 held on 03/02/2021; and

- Based on the public’s best interest.

The Following Was Resolved:

Article (1)
Module Nine (Mergers and Acquisition) of the Executive Bylaws of Law No. (7) of 2010 is hereby amended pursuant to Annex (1) attached to this Resolution.

Article (2)
Clause “Firstly: Mechanism of Calculating Indirect Ownership of a Natural or Corporate Person” of Appendix (7) “Mechanism of Calculating Indirect Ownerships” of Module Nine (Mergers and Acquisition) of the Executive Bylaws of Law No. (7) of 2010 is hereby clarified pursuant to Annex (2) attached to this Resolution.

Article (3)
The concerned bodies shall execute this Resolution, each within its jurisdiction. This Resolution shall come into force from 30/6/2021, and it shall be published in the Official Gazette. 

Prof. Ahmad A. Al-Melhem
Issued on: 08/02/2021
 

The Translated Document

Copy of the Official Document