| Article (8) |
A- |
Pursuant to registering the issuance of Securities at the commission, the issuer should register the issuance at the center providing the following relevant information and data: |
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1.
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The type of Securities.
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2.
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The number of securities.
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3.
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The nominal or face value of the security.
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4.
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The prospectus of the security (if applicable).
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5.
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A copy of the Commission’s letter approving the registration of the securities.
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6.
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The register of the owners of its issued securities in accordance with the data, specifications and method acknowledged by the Center.
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B- |
Registration of the issued securities in accordance with paragraph (a) of this article shall take place within the periods stated within the Instructions issued by the commission thereto. |
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| Article (9) |
Notwithstanding the provision of article (8) of these instructions, Special acts for the governmental issuances of securities as per the related legislations in force shall be taken into consideration. |
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| Article (10) |
The Issuer shall provide the Center with the register of the owners of its issued securities in accordance with the data, specifications and method acknowledged by the Center. |
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| Article (11) |
A- |
The register of the owners of securities shall include the date of this register in addition to the following information and data for each owner: |
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1. |
The number of the owner assigned by the Issuer. |
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2. |
The full name of the owner. |
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3. |
The Center’s Number for the owner (if available). |
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4. |
The Nationality of the owner. |
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5. |
The ownership balance. |
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6. |
The Free Balance. |
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7. |
Any restrictions on the ownership of securities and the number of securities subject to restrictions. |
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B- |
The Issuer shall be responsible for the correctness, accuracy and completeness of the content of the register of the owners of securities submitted to the Center. The Center shall not bear any responsibility thereto. |
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C- |
The Center’s receipt of the register of the owners of securities shall not constitute an acknowledgement on the part of the Center as to the correctness, accuracy or completeness of its content or a presumption of such correctness, accuracy or completeness. |
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D- |
The Center shall not bear any liability nor responsibility that may occur as a result of the incorrectness, inaccuracy or incompleteness of the information and data provided to the Center by the Issuer related to the ownership of securities, its owners and any ownership restrictions related thereto. |
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| Article (12) |
The register of the owners of securities shall be divided into: |
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A- |
Deposited Securities: which are deposited by the Issuer at the Center in accordance with the provisions of these instructions. |
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B- |
Non- Deposited Securities: which have not fulfilled the conditions for being deposited according to the provisions of these instructions, and is still kept with the Issuer and upon his responsibility. |
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| Article (13) |
A- |
The securities shall be deposited after the Issuer provides the Center with the following information and data about the securities’ owner: |
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1. |
The Center’s Number. |
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2. |
The full name. |
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3. |
The Nationality. |
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4. |
The ownership Balance. |
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5. |
Any ownership restrictions placed upon the Securities and the number of Securities subject to the restrictions (if available). |
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B- |
The information and data specified in Sub-Paragraphs from (1) to (3) of Paragraph (A) of this Article must be identical to the Center’s Database. |
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| Article (14) |
A- |
The securities will be deposited on the date of receiving the registry of the securities’ owners or any subsequent date and the Issuer shall be notified thereby. |
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B- |
The certificates of the ownership of securities shall be deemed cancelled upon the depositing of securities at the Center. |
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C- |
The records and registers of securities deposited at the Center shall substitute the records and registers of the securities’ Issuers. |
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D- |
The ownership of deposited Securities shall be registered at the Center in the related accounts upon records in the Center’s Database. |
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E- |
The securities deposited at the Center from the same type, category, issuance and currency shall be deemed equal in rights and obligations. |
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| Article (15) |
A- |
The Issuer shall keep with it a register or more in which it shall record the names of the owners of non-deposited securities, the data related to them, the number of securities owned by each of them, the transfers that occur thereto, ownership restrictions and any other data deemed necessary by the Center. The Issuer shall bear the full responsibility that may occur in this regard. |
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B- |
The Issuer shall update the registers of the owners of securities maintained by it or any data related thereto after ascertaining of the correctness of the information and documents submitted to the Issuer in that regard. |
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The Issuer shall inform the Center immediately of any change that occurs to the registers of the owners of non-deposited securities including the following: |
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1. |
Any change that occurs to the data related to the owners of securities. |
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2. |
Any correction that occurs to the balances of ownership of securities. |
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3. |
The placement and release of lien (s). |
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4. |
The release of pledge (s). |
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5. |
Any other cases determined by the Center. |
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| Article (16) |
A- |
The Center shall maintain ownership statements for non-deposited securities in accordance with the Issuer’s registers which are submitted to the Center. |
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B- |
The Center shall update the statements of the owners securities referred to in Paragraph (A) of this Article in accordance with the following: |
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1. |
Ownership transfers conducted through the Center directly. |
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2. |
Placing of Liens and their release and the release of Pledge as notified to the Center by the securities’ Issuer. |
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C- |
The ownership statements referred to in this Article shall not substitute the non-deposited ownership registers kept by the Issuer, whereas such registers held with the Issuer for non-deposited securities shall be the legal proof of ownership for these securities until such securities are deposited at the Center. |
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D- |
The Center’s maintenance of the ownership statements mentioned in this Article is for the purposes of illustrating the ownership balance, and any pledges, liens or any ownership restrictions imposed on the securities without any other obligation on the Center and without holding the Center responsible for the accuracy or correctness of this data. |
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| Article (17) |
The Issuer shall complete the procedures for depositing the non-depositing part of the securities by requesting the Center to deposit such securities and provided with information and data specified in article (13) for each owner of non- deposited securities in addition to the number assigned by the Issuer for each owner. |
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| Article (18) |
The Issuer shall bear full responsibility that may occur as a result of the following: |
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A- |
The incorrectness, inaccuracy or incompleteness of the information and data for each owner of deposited securities as specified in Article (13) of these Instructions. |
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B- |
Any errors occurred before the date of depositing securities at the Center that have affected the correctness of the ownership balance of any owner of deposited securities. |
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C- |
Not providing the Center with ownership restrictions related to any deposited securities. |
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| Article (19) |
A- |
The ownership of deposited securities shall be recorded in the Center’s registers where only deposited securities are eligible to be sold, transferred, or pledged or be subject to any other transactions. |
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B- |
The provision of Paragraphs (A) of this Article shall not apply to ownership transfers of securities in the following cases: |
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1. |
Inheritance Transfers. |
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2. |
Transfers in accordance with the Law of the Government’s Acquisition of Monies due to statute of Limitation. |
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3. |
Transfers executed in implementation of court orders and execution departments verdicts. |
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4. |
Transfers executed in wills of securities. |
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5. |
Transfers due to acquisition in accordance with the laws in force. |
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C- |
The Center informs the Issuer electronically of non-deposited securities ownership transfers that occur in any of the cases mentioned in paragraph (B) of this article |
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| Article (20) |
A- |
The Center shall update the registers of the owners of deposited securities upon the Issuer’s decisions that have obtained the official approvals in the following cases: |
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1. Increase or decrease of the Issuer’s capital. |
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2. Stock split (s) (division of the nominal value of the security). |
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3. Merger (s). |
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4. Any other cases determined by the Board of Directors in accordance with the Law. |
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B- |
Updating of the registers of the owners of non-deposited securities in result of the cases referred to in Paragraph (A) of this Article shall be the responsibility of the Issuer. |
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| Article (21) |
A- |
The Center shall cancel the ownership of securities in its records and deliver the concerned Issuers the registers of the owners of securities in the following cases: |
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1. |
The termination of the issuer’s membership at the Center. |
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2. |
Redemption of bonds and corporate bonds issuances. |
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3. |
Any other cases determined by the Board of Directors in accordance with the provisions of the Law. |
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B- |
Notwithstanding the provision of Paragraph (A) above, the Center shall maintain the historical records and copies of the ownership registers as of the date of delivery to the Issuers. |
