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Article 156 Of Chapter 13
Section: Transitional Provisions

All the material and intellectual assets of Kuwait Stock Exchange shall, upon the issuance of this Law, be rendered to the Authority when this Law is issued, and the Exchange Committee shall continue to manage them until the management functions are taken over by the Authority. The Authority may entrust Boursa Kuwait Securities Company (BKSC) with the management thereof. The Authority shall – within the first year after the entry into force of this Law – commission an advisory committee to valuate the material and intellectual assets of Kuwait Stock Exchange, and determine which of such assets shall inure to the Authority and which shall be retained by the Exchange. The Authority shall authorize both Kuwait Stock Exchange and the Market Committee or Boursa Kuwait Securities Company (BKSC) to manage these assets and undertake the administrative and financial functions required for administering the Exchange’s entity during the provisional period.

 

* Article (156) 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.

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  • CMA Law