CmaBoardReleases
Title: Resolution No. (1) of 2014 of CMA Board of Commissioners Regarding Amending Corporate Governance Regulations for Companies Regulated by Capital Markets Authority
Resolution No. (1) of 2014
of CMA Board of Commissioners
Regarding
Amending Corporate Governance Regulations
for Companies Regulated by Capital Markets Authority
Having Perused:
- Law No. (7) of 2010 regarding the Establishment of Capital Markets Authority and Regulating Securities' Activity and its Executive Bylaw; and
- Resolution No. (25) of 2013 of CMA Board of Commissioners regarding issuing corporate governance regulations for companies regulated by Capital Markets Authority No. (C.M.A./S.S./C.G./3/2013) held on 24/12/2013.
The Following Was Resolved
Article One
Item (a) paragraph (4) of principle (2/1) of Rule No.1 of the Corporate Governance Regulations for companies regulated by Capital Markets Authority shall be amended to be as follows:
"4- To be a Board of Directors' member in any company of its group, or in the one that is part of its group."
Article Two
This Resolution shall take effect from the date of its issuance.
Saleh Mubarak Al-Falah
Chairman, CMA Board of Commissioners
Issued on: 5/1/2014