Back Custom print Link Text Only Rich Text Print

  • Resolution No. (2) of 1990 in Respect of Certain Private Regulations of Securities Trading

    The Chairman of the Exchange's Board of Directors:

    After perusal of Decree Law No. (4) of 1987, pertaining to the establishment and organization of the Bahrain Stock Exchange;
    And upon the Minister of Commerce and Agriculture's Resolution No. (13) of 1988 concerning the issuance of the Bahrain Stock Exchange's Internal Regulations;
    And upon Resolution No. (1) of 1990 of the Exchange's Board of Directors in respect of Trading Excluded cases;
    And upon the Exchange's Board of Directors (Board Meeting No. (30) of 5/2/1990) Resolution concerning certain private regulations of securities trading;
    And upon the submission of the Exchange's Director;

    RESOLVED AS FOLLOWS:

    • ARTICLE ONE

      Securities in the name of others shall not be traded in, unless a Power of Attorney has been issued by them, or on the basis of a signed Transfer Request, except in the case of a father dealing in his minor son's securities.

    • ARTICLE TWO

      Sale or transfer or other type of transactions relating to securities which belong to individuals outside Bahrain, shall be based on a Power of Attorney from the concerned individuals.

    • ARTICLE THREE

      Securities may be transferred from the portfolio manager to the investor, in accordance with the Portfolio Management Contract and Transfer Request signed by the portfolio manager, or by any other authorized person, along with proof that authorizes the company in the management of the investment portfolio.

    • ARTICLE FOUR

      The Director of the Bahrain Stock Exchange shall implement this Resolution, which shall come into effect from the date of its issuance in the Official Gazette.

      The Minister of Commerce and Agriculture
      The Chairman of the Board of Directors
      of the Bahrain Stock Exchange

      Issued on 27 Shawaal 1410 H
      Corresponding to 22 May 1990