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Article (89)

Subscription shall be effected by a note indicating the number of shares subscribed for, the subscriber's acceptance of the company's Memorandum and Articles of Association, his selected domicile, and any other details that may be deemed necessary. The subscriber or his deputy shall sign the subscription document.

The subscriber shall submit the note to the bank and shall pay the installments due against a receipt signed by the bank indicating the name of the subscriber, his selected domicile, nationality, date of subscription, the number of subscribed shares and paid installments. Subscription shall be deemed final upon receiving such receipt. The subscriber shall not cancel his subscription, without prejudice to the provisions of article (102) of this law.