CmaBoardReleases
Title: Resolution No. (19) of 2018 Regarding Extending the Grace Period Granted to Kuwait Clearing Company to Comply with Article (2-2-3) of Chapter Two of Module Four of the Executive Bylaws of Law No. 7 of 2010 and their Amendments
Having Perused:
- Law No. (7) of 2010 on the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Executive Bylaws and their amendments; and
- Resolution No. (68) of 2016 regarding the licensing of Kuwait Clearing Company which has been through the reconcilement process pursuant to Law No. (7) of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its Amendments
- Resolution No. (113) of 2017 Regarding Extending the Grace Period Granted to Kuwait Clearing Company to Comply with Article (2-2-3) of Chapter Two of Module Four of the Executive Bylaws of Law No. 7 of 2010 and its Amendments
- CMA Board of Commissioners Resolution No. C.B.C 7-4 of 2018 passed in its meeting No. (4) of 2018 held on 29/01/2018.
The Following Was Resolved
Article (1)
The grace period granted to Kuwait Clearing Company to comply with the provisions of Article (2-2-3) of Chapter Two (Clearing Agencies) of Module Four (Securities Exchanges and Clearing Agencies) of the Executive Bylaws of Law No. (7) of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and their amendments, which ended on 31/12/2017, is hereby extended for six months, ending on 28/06/2018.
Article (2)
The concerned bodies shall execute this Resolution, each within its jurisdiction. This Resolution shall come into force from the date of its issuance and it shall be published in the Official Gazette.
Mishaal M. Al-Usaimi
Issued on: 08/02/2018