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Title: Resolution No. (96) of 2022 Regarding Renewal of the Preliminary Approval for the Incorporation of a Company to Practice Securities Activities
Date Publish
26 May 2022
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
- Resolution No. (129) of 2021 Regarding Granting Preliminary Approval for the Incorporation of a Company to Practice Securities Activities pursuant to Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws and their amendments on 15/11/2021; and
- Based on the request of the incorporator’s of a Company under incorporation to renew the preliminary approval issued by the CMA for a similar period; and
- Based on Resolution No. (48) of 2022 regarding amending the authorizations of the Supervision Sector’s procedures issued on 03/04/2022.
The Following Was Resolved
Article (1)
The Preliminary approval is hereby renewed for incorporating a Closed Shareholding Company to practice securities activities. Its data are as follows:
• Securities Activities:
- Securities Broker not registered with an Exchange.
• Capital: KWD 1,000,000 (one million Kuwaiti Dinars)
• Founders:
|
# |
Name |
Ownership |
Nationality |
|
1 |
Khalid Ali Tarish Al-Thahir |
51%
|
Kuwaiti |
|
2 |
Market Winner Commission Agent- L.L.C. |
28%
|
|
|
3 |
Issa Mufareh Hazza Al-Adwani |
10%
|
Kuwaiti |
|
4 |
Ma’any Thwaini Ayith Al-Mutairi |
10%
|
Kuwaiti |
|
5 |
Fedhah Hasher Jaza’a Al-Mutairi |
1% |
Kuwaiti |
This approval shall be valid for six months, starting from 13/05/2022 and ending on 12/11/2022, to meet the criteria specified by the CMA.
Article (2)
The Company under incorporation will be granted a license according to this Resolution in its final approved name after completing the requirements mentioned in the preliminary approval letter issued by the CMA. The CMA license certificate will have a validity of three years starting from the date of issuance and is renewable after paying the prescribed fees.
Article (3)
The concerned bodies shall execute this Resolution, each within its jurisdiction. This Resolution shall come into force from 13/05/2022 and it shall be published in the Official Gazette.
Zeyad Al-Fulaij
Head of Supervision Sector
Issued on: 26/05/2022
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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