CMA LAW: Resolution No. (33) of 2016 Regarding The Report of the Current Tasks and Duties of Kuwait Stock Exchange (KSE), and the Recommendation of the Tasks that shall be Transferred to the Authority and Kuwait Clearing Company (KCC), and the ones that shall Remain at the Market

Having Perused:
- Law No. (7) of 2010 regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its amendments; and
- Resolution No. (72) of 2015 on issuance of the Executive Bylaws of Law No. 7 of 2010 regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its amendments; and
- Resolution No. (80) of 2015 on authorizing BKSC to manage all material and intellectual assets of Kuwait Stock Exchange (KSE) and to undertake the administrative and financial functions required for administering the Exchange’s entity.; and
- Resolution No. (81) of 2015 on approving the detailed plan of accomplishing the passing on and receiving of KSE; and
- Resolution No. (82) of 2015 on formation of the joint work team of passing on and receiving of KSE; and
- The report of the current duties and tasks of the Market, which is submitted by the team leaders pursuant to the mentioned Resolution No. (82) of 2015; and
- The recommendation submitted by the team leaders which is formed pursuant to Resolution No. (82) of 2015 regarding the transferred tasks from the Market to the Authority or KCC, or the amended tasks.    
And based on the authorization mentioned in Article (2) of Resolution No. (82) of 2015.

The Following Was Resolved

Article (1)
The report of the tasks and duties of the current Market, which is submitted by the two leaders of the team that is formed pursuant to Resolution No. (82) of 2015 (attached), is hereby approved.

The recommendation submitted by the two leaders of the team which is formed pursuant to Resolution No. (82) of 2015 on the tasks that shall be transferred from the Market to the Authority and KCC, or the amended ones (attached), is hereby approved.

Article (2)
All Authority’s sectors and departments, Kuwait Stock Exchange, Kuwait Bourse Company, and KCC - each in its jurisdiction - shall execute this Resolution. It shall come into force from 25/4/2016.

Khalifa Abdullah Al-Ajeel
Member of the Board of Commissioners
General Supervisor of the Joint Work Team
of the Passing and Receiving of KSE

Issued on: 19/4/2016

Copy of the Official Document

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