Article 163 Of Chapter 13

Section: Transitional Provisions

Firstly: - Following the end of the provisional phases referred to in this Law, the following laws, decrees-laws and decrees shall be annulled:

1 - Decree issued on August 14, 1983 regulating Kuwait Stock Exchange Market.

2 - Decree regulating the settlement of Securities trading and the clearing room at Kuwait Stock Exchange dated 27 December 1986.

3 - Law No. (12) of 1998 concerning Licensing the Establishment of Leasing and Investment Companies.

4 - Decree-Law No. (31) of 1990 on Regulating the Trading of Securities and Establishment of Investment Funds.

5 - Law No. (2) of 1999 concerning Declaration (disclosure) of Interests in Shareholding Companies’ Shares.

Secondly: - Provisions of Articles (from 323 to 328) of the Commerce Law shall not apply to Exchanges to which the provisions of this Law apply.

Thirdly: - Provisions of Chapter (5) and Chapter (6) of Section (9) of the Companies Law shall be cancelled.

* Article (163) 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.