Royal Decree 46/2022 Promulgating the Securities Law

Arabic

We, Haitham bin Tarik, the Sultan of Oman

after perusal of the Basic Statute of the State,

the Capital Market Law promulgated by Royal Decree 80/98,

and the Commercial Companies Law promulgated by Royal Decree 18/2019,

and after presentation to Majlis Oman,

and in pursuance of public interest,

have decreed as follows

Article I

The attached Securities Law shall apply.

Article II

The Chairman of the Board of Directors of the Capital Market Authority shall issue the executive regulation of the attached law within one year from its date of entry into force, and shall issue the decisions necessary for the implementation of its provisions. Until they are issued, the existing regulations and decisions shall continue to operate to the degree that they do not contradict with the provisions of the attached law.

Article III

Those addressed by the provisions of this law shall rectify their status within 6 (six) months from the date of its entry into force, and it is permitted to extend it for an additional period of 6 (six) months by a decision by the Board of Directors of the Capital Market Authority.

Article IV

The provisions of the aforementioned Capital Market Law are hereby be repealed, with the exception of articles 46 to 58. All that is contrary to this decree or the attached law, or in conflict with their provisions, are also hereby repealed.

Article V

This decree shall be published in the Official Gazette, and comes into force on the day following the date of its publication.

Issued on: 16 Dhu Al-Qa 'dah 1443
Corresponding to: 16 June 2022

Haitham bin Tarik
Sultan of Oman

Published in Official Gazette 1446 issued on 19 June 2022.