CMA LAW: Resolution No. (64) of 2014 Regarding Amending CMA Resolution No. (21) of 2014 regarding Granting a Private Marketing License of a Foreign Collective Investment Scheme to Kuwait China Investment Company (Kuwaiti Shareholding Company) for Asia Islamic Trade Finance Fund Ltd

Resolution No. (64) of 2014

Regarding

Amending CMA Resolution No. (21) of 2014 regarding Granting a Private Marketing License of a Foreign Collective Investment Scheme to Kuwait China Investment Company (Kuwaiti Shareholding Company) for Asia Islamic Trade Finance Fund Ltd

Having Perused:

• Law No. (7) of 2010 regarding the "Establishment of the Capital Markets Authority and Regulating the Securities' Activity", and its Executive Bylaw and their amendments; and
• CMA Resolution No. (21) of 2014 issued on 7/7/2014 regarding Granting a Private Marketing License of a Foreign Collective Investment Scheme to Kuwait China Investment Company (Kuwaiti Shareholding Company) for the Asia Islamic Trade Finance Fund Ltd; and
• Based on the request of Kuwait China Investment Company on 29/09/2014 to amend the offer price of marketing the Asia Islamic Trade Finance Fund Ltd in the State of Kuwait; and
• Based on the CMA Board of Commissioners' Resolution No. (27) of 2014 passed in the meeting held on 10/12/2014 regarding approving the amendments of Resolution No. (21) of 2014 mentioned above.

The Following Was Resolved

Article (1):  Article (1) of CMA Resolution No. (21) of 2014 regarding Granting a Private Marketing License of a Foreign Collective Investment Scheme to Kuwait China Investment Company (Kuwaiti Shareholding Company) for the Asia Islamic Trade Finance Fund Ltd is hereby amended to be as follows:

"Kuwait China Investment Company (Kuwaiti Shareholding Company) is hereby licensed to market 1.000.000 units of the Asia Islamic Trade Finance Fund Ltd, which is established in the Cayman Islands, as a private marketing in the State of Kuwait in an offer price for each unit calculated based on the fund's net asset value of the evaluation date of the moth preceding the subscription date, and the minimum limit for subscription is KD 100,000.

Article(2):  The term of the marketing license issued on 13/7/2014 is hereby amended to be one year, renewable annually after paying the required fees starting from the date of the amendment Resolution.

Article (3):  The concerned bodies shall execute this Resolution, each within its own capacity. This Resolution shall come into force from the date of its publication in the Official Gazette.

             Nayef Falah Al-Hajraf

Chairman, CMA Board of Commissioners

Issued on: 16/12/2014

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