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CMA LAW: Resolution No. (29) of 2013 of CMA Board of Commissioners Regarding Amending Article (256) of the Executive Bylaw of Law No. (7) of 2010
Date Publish
28 November 2015
Resolution No. (29) of 2013
of CMA Board of Commissioners
Regarding
Amending Article (256) of the Executive Bylaw of Law No. (7) of 2010
Having perused:
- Law No. 7 of 2010 Regarding the "Establishment of the Capital Markets Authority and Regulating Securities Activity", and its Executive Bylaw; and
- Based on CMA Board of Commissioners' Resolution passed in its meeting No. (11) of 2013 held on 3/7/2013 regarding amending Article (256) of the Executive Bylaw of Law No. (7) of 2010;
The Following was Resolved
Article (1): Article (256) of the Executive Bylaw of Law No. 7 of 2010 is hereby amended to be as follows:
"The offeror shall notify the Competition Protection Agency, if he makes an offer which leads to the control, or increase the existing control, over the concerned market, and when the resulting percentage reaches the level that achieves the control over the market according to the standards determined by Law No.10 of 2007 concerning Competition Protection and its Bylaw. The offeror shall provide the Authority with any documents it requires in this regard."
Article (2): All sectors' heads and concerned departments' directors at the CMA shall execute this Resolution.
Article (3): This Resolution shall be published in the Official Gazette. It shall come into force from the issue date.
Saleh Mubarak Al-Falah
Chairman, CMA Board of Commissioners
Issued on 31 / 7 / 2013
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