We, Qaboos bin Said, the Sultan of Oman
after perusal of the Basic Statute of the State promulgated by Royal Decree 101/96,
and the Capital Market Law promulgated by Royal Decree 80/98,
and in pursuance of public interest,
have decreed as follows
Article I
The text of article 52 of the Capital Market Law promulgated by Royal Decree 80/98 is hereby replaced with the following text:
The board of directors of the authority shall be formed by a decision of the Council of Ministers on the basis of a proposal by the minister, and the term of the membership of the board shall be 4 (four) years renewable for a single term or similar terms.
Article II
All that is contrary to this decree, or in conflict with its provisions, is hereby repealed.
Article III
This decree shall be published in the Official Gazette, and comes into force on the day following the date of its publication.
Issued on: 26 Sha’ban 1440
Corresponding to: 2 May 2019
Qaboos bin Said
Sultan of Oman
Published in Official Gazette 1291 issued on 5 May 2019.