Article 50 Of Chapter 4

Section: Clearing Agency

A Clearing Agency license may only be granted to a shareholding company whose capital is determined by the Board of Commissioners, to manage clearing activities, settlement, and central depository and Securities safekeeping operations, as well as other related matters required for the proper management of the Agency. The Authority may request whatever information or data deemed necessary from the applicant company for a license. The Authority shall specify the conditions required for granting a license and its procedures in line with Bylaws of the Law.