Regulatory Alerts2014-12-26
Added · Updated
Communiqué on Principles Pertaining to Removal of Corporations from the Scope of Law and Obligation of Trading of Shares on Exchange
The Capital Markets Board issued this Communiqué to establish the legal framework for removing publicly-held corporations from the scope of the Capital Market Law and regulating the trading of their shares on the exchange. It defines specific conditions for exclusion, including shareholder structure, financial size, and going-concern status, while mandating that corporations failing to meet these criteria must list their shares on the exchange within two years. The document also outlines the procedures for general assembly decisions, expert reports, and the Board's authority to enforce removal or trading obligations ex officio.
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