CmaBoardReleases
Back to Search
CMA LAW: Regulation No. (29) of 2014 of CMA Board of Commissioners Regarding Excluding the Institutions and Public Authorities Participating in the Investment Funds Board of Directors from Implementing the Provisions of Articles No. (317) and (318) of the Executive Bylaw of Law No. 7 of 2010
Date Publish
28 November 2015
Regulation No. (29) of 2014 of CMA Board of Commissioners
Regarding
Excluding the Institutions and Public Authorities Participating in the Investment Funds Board of Directors from Implementing the Provisions of Articles No. (317) and (318) of the Executive Bylaw of Law No. 7 of 2010
Having Perused:
- Law No. (7) of 2010 regarding the "Establishment of Capital Markets Authority and Regulating Securities Activity", and its Executive Bylaw; and
- Based on the request of the Kuwait Investment Authority dated 9/6/2014 to exclude its representatives in the investment funds board of directors of being subject to the provisions of Articles (317) and (318) of the Executive Bylaw of Law No. 7 of 2010; and
- Based on CMA Board of Commissioners Resolution passed in its meeting No. (13) of 2014 held on 24/6/2014.
The Following was Resolved
Article (1): Representatives of the institutions and public authorities participating in the investment funds board of directors shall be excluded from implementing the provisions of Articles (317) and (318) of the Executive Bylaw of Law No. 7 of 2010.
Article (2): The concerned bodies shall execute this Resolution, each within its own capacity. This Resolution shall come into force from the date of its issuance.
Mahdy I. Al-Jazzaf
Vice Chairman, CMA Board of Commissioners
Issued on 2 / 7 / 2014
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.
