• Resolution No. (12) of 1991 in Respect of Procedural Controls Pertaining to The Transfer of Shares Ownership by Individuals from outside The State of Bahrain

    The Director of the Exchange:

    After perusal of Amiri Decree No. (4) of 1987, pertaining to the establishment and organization of the Bahrain Stock Exchange;

    And Resolution No. (13) of 1988, in respect of the issuance of the Bahrain Stock Exchange's Internal Regulations and its Amendments;

    And the Exchange's Board of Directors Resolution No. (1) of 1990, concerning cases exempted from trading;

    And upon the Bahrain Stock Exchange's Board of Directors Resolution No. (2) of 1990, concerning some controls of trading in securities;

    RESOLVED AS FOLLOWS:

    • Article One

      The Exchange's Operations Department may transfer the ownership of shares owned by shareholders outside Bahrain, subject to a Power of Attorney authenticated by one of the following authorities:

      1. Notarization and justice offices.
      2. Chambers of Commerce in the transferee's country.
      3. Commercial banks in the transferee's country.
      4. Registration or transfer offices of the companies whose shares are to be transferred.
      5. Any other official authority approved by the Exchange.

      The person who authenticated the transferee's signature shall be legally liable for the genuineness of his signature.

    • Article Two

      This Resolution shall be disseminated to all of the Exchange's concerned departments, and shall come into effect from the date of its issuance.

      The Director of the Bahrain Stock Exchange

      Issued on 22 Safar 1411 H
      Corresponding to 1st September 1991