Order Approving COSOB Regulation No. 09-03 Fixing Commission Calculation Rules for the Stock Exchange Management Company

Order of 24 Joumada El Oula 1431 corresponding to May 9, 2010, approving the regulation of the Commission for the Organization and Supervision of Stock Exchange Operations No. 09-03 of Aouel Dhou El Hidja 1430 corresponding to November 18, 2009, fixing the rules for calculating commissions received by the Stock Exchange Management Company on operations conducted on the stock exchange.

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 May 23, 1993, as amended and supplemented, relating to the Stock Exchange for Securities, particularly its Articles 21 and 32;

Having regard to Presidential Decree No. 09-129 of 2 Joumada El Oula 1430 corresponding to April 27, 2009, renewing members of the Government in their functions;

Having regard to Executive Decree No. 95-54 of 15 Ramadhan 1415 corresponding to February 15, 1995, fixing the attributions 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 Stock Exchange for Securities;

Orders:

Article 1. — The regulation of the Commission for the Organization and Supervision of Stock Exchange Operations No. 09-03 of Aouel Dhou El Hidja 1430 corresponding to November 18, 2009, fixing the rules for calculating commissions received by the Stock Exchange Management Company on operations conducted on the stock exchange, the text of which is annexed to this order, is hereby approved.

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

Done in Algiers, on 24 Joumada El Oula 1431 corresponding to May 9, 2010.

Karim DJOUDI.

ANNEX

Regulation No. 09-03 of Aouel Dhou El Hidja 1430 corresponding to November 18, 2009, fixing the rules for calculating commissions received by the Stock Exchange Management Company on operations conducted on the stock exchange.

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

Having regard to Legislative Decree No. 93-10 of May 23, 1993, as amended and supplemented, relating to the Stock Exchange for Securities, particularly its Article 19;

Having regard to the Presidential Decree of 29 Joumada El Oula 1429 corresponding to June 1, 2008, appointing the President of the Commission for the Organization and Supervision of Stock Exchange Operations;

Having regard to the Order of 28 Chaoual 1429 corresponding to October 28, 2008, appointing the members of the Commission for the Organization and Supervision of Stock Exchange Operations;

After adoption by the Commission for the Organization and Supervision of Stock Exchange Operations on November 18, 2009;

Enacts the regulation as follows:

Article 1. — The purpose of this regulation is to fix the rules for calculating commissions received by the Stock Exchange Management Company on operations conducted on the stock exchange.

Art. 2. — The rate of the commission received by the Stock Exchange Management Company on transactions conducted on the stock exchange is fixed as follows:

— Capital securities: 0.15% of the transaction amount; — Debt securities: 0.10% of the transaction amount.

COSOB Regulation Regulation No. 09-03

The commission is paid by the buyer and the seller of securities traded on the stock exchange through the intermediary of stock exchange operations intermediaries.

The amount of the commission cannot be less than 10 dinars and cannot exceed 100,000 dinars.

Art. 3. — The rate of the commission received by the Stock Exchange Management Company on organizations and companies whose securities are subject to admission to trading on the stock exchange is fixed at 0.05% of the nominal amount admitted.

The amount of this commission cannot exceed 2,500,000 dinars.

Art. 4. — The procedures for collecting the commissions mentioned above are fixed by the Stock Exchange Management Company.

Art. 5. — Regulation No. 98-01 of 24 Joumada Efhania 1419 corresponding to October 15, 1998, fixing the rules for calculating commissions received by the Stock Exchange Management Company on operations conducted on the stock exchange, is hereby repealed.

Art. 6. — This regulation shall be published in the Official Journal of the People's Democratic Republic of Algeria.

Done in Algiers, on Aouel Dou El Hidja 1430 corresponding to November 18, 2009.

Noureddine ISMAIL.

COSOB Regulation Regulation No. 09-03