Tag: Capital Market Authority

Arabic

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

 and the approval of the Board of Directors of the Capital Market Authority,

 and in pursuance of public interest,

it is hereby decided

Article I

The provisions of the attached principles hereby apply in regard to the governance of companies in which the government owns shares.

Article II

Companies addressed by the provisions of the attached principles shall rectify their status in accordance with their provisions within a period not exceeding 12 (twelve) months from the date of their entry into force. The current boards of directors of companies continue until the end of their term, after which they must be reformed in accordance with the provisions of the attached principles.

Article III

All that is contrary to this decision and the attached principles, or in conflict with their provisions, is hereby repealed.

Article IV

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

Issued on: 30 Safar 1443
Corresponding to: 6 October 2021

Sultan bin Salim bin Said Al-Habsi
Minister of Finance
Chairman of the Board of Directors of the Capital Market Authority

Published in Official Gazette 1412 issued on 17 October 2021.

Arabic

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

Royal Decree 82/98 Establishing the Muscat Clearing and Depository Company,

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

Ministerial Decision 137/2002 regarding the Rules and Conditions for the Election of the Members of the Boards of Directors of Public Joint Stock Companies and the Provisions concerning Their Responsibilities,

Ministerial Decision 156/2002 regarding the Procedures and Provisions for the Assignment of the Right of Preference in Subscribing to Shares of the Increase in the Capital of Public Joint-Stock Companies,

the Executive Regulation of the Capital Market Law issued by Decision 1/2009,

the Accreditation of Auditors Controls Regulation Issued by Decision 8/2018,

Decision 10/2018 regarding the Controls for Forming the Audit Committee and Appointing the Internal Auditor and Legal Advisor in Public Joint Stock Companies,

the approval of the Board of Directors of the Capital Market Authority,

and the approval of the Ministry of Finance,

and in pursuance of public interest,

it is hereby decided

Article I

The provisions of the attached Public Joint Stock Companies Regulation shall apply.

Article II

The Executive President of the Capital Market Authority shall issue the necessary decisions, forms, and instructions necessary to implement the provisions of the attached regulation, and until they are issued, the existing decisions, forms, and instructions continue to operate to the degree that they do not contradict with the provisions of the aforementioned Commercial Companies Law and the attached regulation.

Article III

The aforementioned Decisions 137/2002, 156/2002, 8/2018, and 10/2018 are hereby repealed, as well as all that is contrary to the provisions of the attached regulation or in conflict with its provisions.

Article IV

This decision must be published in the Official Gazette, and comes into force on the day following the date of its publication, with the exception of the provisions relating to the accreditation of the internal auditor and the legal adviser, which come into force after the lapse of 6 (six) months from the date of its publication.

Issued on: 13 Rajab 1442
Corresponding to: 25 February 2021

Sultan bin Salim bin Said Al-Habsi
Minister of Finance
Chairman of the Board of Directors of the Capital Market Authority

Published in Official Gazette 1381 issued on 28 February 2021.