Regulatory Alerts2017-01-11
Instructions Regulating the Sale of Securities in Implementation of Court and Official Entity Decisions
The Jordan Securities Commission’s Board of Commissioners issued these instructions to standardize the procedures for selling securities in response to decisions by competent courts and official entities. The framework mandates the Amman Stock Exchange to coordinate with the Securities Deposite Center and relevant companies to verify ownership restrictions, deposit securities, and direct brokers to execute sales. Upon completion, sale proceeds are transferred to the requesting entity after deducting administrative costs, while the Commission retains authority to enforce compliance and resolve unaddressed matters.
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