COSOB Regulation No. 03-05 of March 18, 2003, Relating to Participation in the Share Capital of the Central Securities Depository

Order of 18 Rajab 1424 corresponding to September 15, 2003, approving the regulation of the Commission for the Organization and Supervision of Stock Exchange Operations No. 03-05 of 15 Moharram 1424 corresponding to March 18, 2003, relating to participation in the share capital of the Central Securities Depository.

The Minister of Finance,

Having regard to Ordinance No. 75-59 of September 26, 1975, as amended and supplemented, establishing the Commercial Code;

Having regard to Legislative Decree No. 93-10 of 2 Dhou El Hidja 1413 corresponding to May 23, 1993, as amended and supplemented, relating to the securities exchange;

Having regard to Presidential Decree No. 03-215 of 7 Rabie El Aouel 1424 corresponding to May 9, 2003, as amended, appointing the members of the Government;

Having regard to Executive Decree No. 95-54 of 15 Ramadhan 1415 corresponding to February 15, 1995, fixing the duties of the Minister of Finance;

Having regard to Executive Decree No. 96-102 of 22 Chaoual 1416 corresponding to March 11, 1996, implementing Article 32 of Legislative Decree No. 93-10 of May 23, 1993, as amended and supplemented, relating to the securities exchange;

Orders:

Article 1. — The regulation of the Commission for the Organization and Supervision of Stock Exchange Operations No. 03-05 of 15 Moharram 1424 corresponding to March 18, 2003, relating to participation in the share capital of the Central Securities Depository, is hereby approved, the text of which is annexed to this order.

Art. 2. — This order shall be published in the Official Journal of the People's Democratic Republic of Algeria.

Done in Algiers, on 18 Rajab 1424 corresponding to September 15, 2003.

Abdelatif BENACHENHOU

ANNEX

COSOB Regulation No. 03-05 of 15 Moharram 1424 corresponding to March 18, 2003, relating to participation in the share capital of the Central Securities Depository.

The President of the Commission for the Organization and Supervision of Stock Exchange Operations (COSOB),

Having regard to Ordinance No. 75-59 of September 26, 1975, as amended and supplemented, establishing the Commercial Code;

Having regard to Legislative Decree No. 93-10 of 2 Dhou El Hidja 1413 corresponding to May 23, 1993, as amended and supplemented, relating to the securities exchange;

After adoption by the Commission for the Organization and Supervision of Stock Exchange Operations (COSOB) on 15 Moharram 1424 corresponding to March 18, 2003;

Enacts the regulation as follows:

Article 1. — Pursuant to Article 19 quinquiès of Legislative Decree No. 93-10 of May 23, 1993, as amended and supplemented, cited above, this regulation

Enacts the regulation as follows:

Article 1. — Pursuant to Article 19 quinquiès of Legislative Decree No. 93-10 of May 23, 1993, as amended and supplemented, cited above, this regulation aims to define the conditions for participation in the share capital of the Central Securities Depository.

Art. 2. — The minimum participation in the share capital of the Central Securities Depository is set at two million (2,000,000) dinars.

Art. 3. — In the event of the admission of a new shareholder, the share capital of the Central Securities Depository is increased by the contribution made by this shareholder.

In the event of the withdrawal of a shareholder, their share in the capital of the Central Securities Depository is repurchased by the other shareholders. The procedures for repurchase are defined in the statutes of the Central Securities Depository.

Art. 4. — This regulation shall be published in the Official Journal of the People's Democratic Republic of Algeria.

Done in Algiers, on 15 Moharram 1424 corresponding to March 18, 2003.

Ali SADMI.

COSOB Regulation Regulation No. 03-05