Article 53 Of Chapter 4

Section: Clearing Agency

The Authority shall require the Clearing Agency to prepare rules and regulations related to the operations of clearing, settlement and registration of Securities and other activities that relate to the Agency’s business, or to amend the same within a certain period. If the Clearing Agency does not comply with the requirements within the specific period, the Authority may prepare or amend the said rules on behalf of the Clearing Agency and its expenses shall be reimbursed by the Clearing Agency.

* Article (53) is amended pursuant to Law No. 22 of 2015 Amending Some Provisions of Law No. 7 of 2010 regarding the Establishment of the Capital Markets Authority & Regulating Securities Activities.