CMA LAW: CMA Resolution No. (1) of 2013 Regarding Granting a Private Marketing License to Industrial Bank of Kuwait (K.S.C.) for TA Atlantic & Pacific Fund VII – B LP

Having Perused:
- Law No. (7) of 2010 of the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws; and

- Based on the request of the Industrial Bank of Kuwait (K.S.C.) to conduct a private marketing for TA Atlantic & Pacific Fund VII – B LP in the State of Kuwait; and 

- The Articles and Memorandum of Association of the Industrial Bank of Kuwait (K.S.C.) and the agreement between the Fund’s incorporating company (TA associates A B VII B LP) and the marketing manager of the Industrial Bank of Kuwait; and

- After obtaining the approval of Central Bank of Kuwait dated 13/3/2013; and

- Based on CMA Board of Commissioners Resolution No. (6) of 2013 passed in its meeting No. (4) of 2013 held on 13/3/2013 on delegating some competences of the Markets Regulation Sector;

The Following Was Resolved

Article (1)
The Industrial Bank of Kuwait (K.S.C.) is hereby licensed to market the units of TA Atlantic & Pacific Fund VII – B LP as a private marketing in the State of Kuwait. It is established in the State of Delaware in U.S.A in a capital of $1,750,000,000/-. The maximum limit is $115,000,000/- and the minimum limit of subscription is $5,000,000 and the par value is $50,000/- per unit. 

Article (2)
Objectives of the Fund shall be as mentioned in the prospectus.

Article (3)
The marketing license is for a year renewable annually after paying the specified fees.

Article (4)
The concerned bodies shall execute this Resolution, each within its jurisdiction. It shall come into force from the date of publication in the Official Gazette.

Mishaal M. Al-Usaimi
Board of Commissioners Member

Issued on: 9/4/2013
     

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