Regulation on Clearing and Settlement (No. 75/22)

Decision
No. 75/22
On the Issuance of the Regulation of Clearing and Settlement Based on the Capital Market Law promulgated by Oman Sultani Decree No. 80/1998, Oman Sultani Decree No. 82/1998 on the Establishment of Muscat Depository & Securities Registration Co. (S.A.O.C), The Implementing Regulation of the Capital Market Law issued by Oman Decision No. 1/2009, The Regulation of Clearing and Settlement issued by Oman Capital Market Authority Decision No. 5/2011, And the approval of the Board of Directors of the Capital Market Authority, .And based on the public interest requirements :It was decided
Article 1
The provisions of the attached Regulation shall apply to the regulation of clearing and .settlement
Article 2
Aforementioned Oman Capital Market Authority Decision No. 5/2011 and any provisions that .contradict the attached Regulation or that are in conflict with its provisions shall be abrogated
Article 3
This Decision shall be published in the Official Gazette and shall come into force ninety (90) days .from the date of its publication Issued on: 10 Ramadan 1443 H. Corresponding to: 12 April 2022 Sultan bin Salem bin Saeed Al-Habsi Minister of Finance Chairman of the Board of Directors of the Capital Market Authority Regulation of Clearing and Settlement First Chapter Definitions and General Provisions
Article 1
In application of the provisions of this Regulation, the terms and expressions contained herein shall have the same meanings set out in the Capital Market Law and its Implementing Regulation referred to here-above. The following terms and expressions shall have the meanings assigned :against each, unless the context requires otherwise .Authority: The Capital Market Authority -1

(.Company: Muscat Clearing and Depository Company (S.A.O.C -2 (.Stock Exchange: Muscat Stock Exchange Company (S.A.O.C -3 .Bank: The Omani bank licensed by the Central Bank of Oman -4 Member: Any company licensed to engage in brokerage activity, or custody services, or any -5 .other activity approved by the Company and by the Authority .Custodian: The entity licensed by the Authority to engage in the activity of custody -6 .Fund: The Settlement Management Fund -7 .Committee: The Fund management committee provided for in Article 29 hereof -8 Pecuniary Compensation: The amount that the buyer receives from the Member causing the -9 .suspension of a particular Trading transaction .Trading: Buying and selling securities listed on the Stock Exchange -10 Reference Price: The highest price during the period from the date of execution of the -11 .(transaction (T) until the end of the fourth day after closing the transaction (T+4 Settlement Bank: The Central Bank of Oman or the bank in which the financial settlements -12 .resulting from the transactions are carried out Settlement Account: The account from which accruals are paid and where liabilities of -13 .Members resulting from Trading are deposited with the Settlement Bank Member's Account: The account that the Member is required to open for clearing and -14 .settlement purposes with the Bank
Article 2
For the purposes of carrying out clearing and settlement in accordance with the provisions hereof, the rights and obligations between the seller and the buyer of the securities traded on the Stock Exchange shall be asserted from the date of concluding the documented transaction in .the Stock Exchange
Article 3
The Company shall have sole competence to carry out clearing and settlement in respect of transactions, to determine the net rights and obligations of Members, to complete the procedures for the settlement of financial positions arising therefrom and to transfer ownership .of securities in accordance with the provisions hereof
Article 4
Clearing and settlement or part thereof shall be carried out using Form (2) “Delivery Versus Payment” which is approved by the Bank for International Settlements (BIS). The total settlement of securities for each transaction shall be carried out separately between the shareholders’ accounts. The financial settlement shall be carried out on the basis of the net amount between .the Members’ Accounts Clearing and settlement may be carried out using another form determined by the Company, .after approval thereof by the Authority
Article 5
The securities traded on the Stock Exchange shall be settled on the third day following the

Trading date (T+3), or within any other period that the Company deems appropriate, subject to .the approval of the Authority
Article 6
:When carrying out clearing and settlement, the Company shall undertake the following Opening an account with the Settlement Bank for the purposes of daily financial -1 settlements among the Members, in accordance with the agreement concluded between the .Company and the Settlement Bank Maintaining confidentiality of the data and information related to the clearing and -2 settlement process and to the parties thereto, and refraining from disclosing them or making them available to any other party unless with the consent of the parties thereto, .with the Authority’s approval or by virtue of a judicial order
Article 7
:When carrying out clearing and settlement, the Company may take the following actions Postpone settlement on the first of January of each year in accordance with the circulars -1 .issued by the Central Bank of Oman Allow the financial settlement procedures to be carried out beyond the scope of the -2 Settlement Account at the request of both parties to the transaction, provided that such a .request is accompanied by the documents specified by the Company Postpone or bring forward the settlement date among Members, whether before or after -3 .the period set out in Article 5 hereof, and with the Authority’s approval In any case, the parties shall be responsible for completing the clearing and settlement procedures, and the stock settlement procedures shall be linked to the financial settlement .procedures unless the Company specifies otherwise
Article 8
For the purposes of completing the settlement of transactions, each Member shall open a “Member’s Account” with the Bank. The Member shall authorise the Company to manage the account under an authorisation that may be revoked solely with its consent, using the form approved by the Company in this regard. The Company may take the following actions in :particular .Viewing and attaching balances -1 Issuing money transfer orders to and from the account within the limits of the net accruals -2 and liabilities thereon that are included in the settlement statement issued by the Company for .the transactions executed by the Member Requesting the Bank to rectify the error in the transfer of the settlement amount to the -3 .Member’s Account directly pursuant to the procedures set by the Company Keeping all data and records related to the clearing and settlement process for a period not -4 .less than ten (10) years from the date of executing the transaction
Article 9
The Custodian shall – pursuant to the procedures agreed upon with the Company and approved by the Authority - confirm acceptance or rejection of any transaction. The failure to confirm shall .be considered as acceptance of the executed transactions

Second Chapter
Settlement of Securities
Article 10
:When settling the securities, the Stock Exchange shall undertake the following Providing the Company with daily Trading information electronically, including all the -1 transactions executed thereon and any other information specified by the Company, .directly after the Trading session ends If the Company informs the Stock Exchange that the information and data are -2 incomplete, contain an error or are in violation of the applicable regulations, the Stock Exchange shall amend them and resend them to the Company within a period no later than .the end of the working day. The Company shall inform the Authority of such cases .In any case, the information referred to in this Article shall be deemed final after its correction
Article 11
After receiving the final Trading data from the Stock Exchange, the Company shall provide the Member with the information related to the transactions executed for their Customers and the consequent monetary obligations or securities, before the end of the working day pursuant to .the approved mechanism
Article 12
The Member shall obtain authorisation from their Customer before transferring the securities from the main account to the sub-account for Trading or other purposes. The Company may ensure the Members’ compliance therewith pursuant to the procedures it sets. In any case, the .Member shall bear legal liability for the transfers
Article 13
The Member may apply for the correction of the data of the executed transactions against payment of ten (10) Omani rials to the Company for each transaction, and up to a maximum of two hundred (200) Omani rials for the shareholder per security, provided that the application is submitted no later than the end of the first day following the date of execution of the .(transaction (T+1 In any case, the Company shall make the necessary correction pursuant to the controls it sets, .after approval thereof by the Authority
Article 14
The company shall execute the sale transaction by deducting the quantity of sold securities from the seller’s account and place in the electronic system under the status “ sell effected pending seFlement”. Reselling of such securiGes shall not be allowed and the company shall, forthwith execuGng the buy transacGon, add the securiGes to the buyer’s account and place in the electronic system under the status “ buy effected pending seFlement” and the securiGes can be .sold and record the ownership of the securities in the buyer’s account on the settlement date .The settlement shall not be pending on condition or term and shall be final and irrevocable Third Chapter Suspended Transactions
Article 15

A transaction shall be suspended if it is not completed or settled, in either of the following two :cases :Deficit in the balance of negotiable securities in the following cases -1 a- If the number of securities recorded in the account of the selling customer at the time of .executing the transaction is not sufficient to execute the sale b- If the sold securities are pledged, seized or restricted in any manner that prevents .disposal thereof c- If the securities were sold prior to their transfer from the main account to the sub- .account .d- In case of transactions rejected by the Custodian Cases that lead to the non-completion of executed transactions as decided by the Company -2 .and approved by the Authority The Company shall carry out partial settlement for the suspended transactions with the balance available on settlement day. The obligations of the parties to the transaction shall continue to exist for the remaining part of the original transaction, pursuant to the procedures provided for .in Article 17 hereof
Article 16
The Company shall inform the Member of their suspended transactions at the end of the Trading day (T) pursuant to its mechanism, and the Member shall remedy the causes of suspension no later than the fourth day following the Trading day (T+4) in accordance with the provision of
Article 17 hereof. In case of transactions rejected by the Custodian, the Member shall remedy
.the causes of suspension
Article 17
The Member shall rectify suspended transactions within the period provided for in Article 16 :hereof. They shall likewise cover the deficit as follows .Performing transfers between the main accounts and sub-accounts of the shareholder -1 Covering the deficit by buying from the Stock Exchange no later than the first day after Trading -2 .((T+1 .Preforming transfers to cover the deficit through voluntary purchase transactions -3 Covering the deficit through compulsory purchase transactions, provided that settlement is -4 .carried out pursuant to the procedures set by the Company and approved by the Authority Covering the deficit through lending and borrowing, pursuant to the procedures set by the -5 .Company and approved by the Authority
Article 18
In the event that the Member fails to cover the deficit in the securities in accordance with the provisions of Article 17 hereof, the Company shall, on behalf of the Fund, take the necessary actions to cover the deficit through the compulsory purchase session, no later than the fourth day following Trading (T+4) from the date of executing the suspended transaction. The selling Member shall incur the price of the purchased securities and the consequent difference in prices and commissions as well as any other costs. They shall likewise be liable for all damage suffered by the buying Member, including distributed cash dividends, bonus securities or deprivation of their subscription right or any other rights. The selling Member may refer to the customer to

.recover such funds
:The Company shall collect the following amounts from the selling Member .Any profits resulting from the difference between the selling price and the cover price -1 A fine at the rate of one percent (1%) of the market value on Trading day (T) for the number of -2 securities to be covered, of no less than fifty (50) Omani rials and no more than two thousand .(2,000) Omani rials per security
Article 19
Where the Member and the Fund are unable to cover the deficit in the securities in whole or in
part during the period prescribed in Article 18 hereof, the deficit in the transaction shall be
covered by Pecuniary Compensation, and the accruals and liabilities in respect thereof shall be settled no later than the fifth day of Trading (T+5). The selling Member shall compensate the buying Member for the resulting damage according to the following formula: Compensation formula = [(Reference Price + (Reference Price x 10%)) x Number of shares]. If the Member defaults on the Pecuniary Compensation due therefrom, the Company shall directly notify the Fund to pay the liabilities due therefrom, and the Fund shall refer to the Member to claim the .fulfilment of their obligation to the Fund pursuant to its procedures
Article 20
The settlement procedures shall be completed if the transaction is suspended on account of the percentage of ownership in the traded security exceeding the percentage provided for in the Capital Market Law or the Company’s Statute. The buying Member shall process the securities in excess of the permitted percentage pursuant to the controls set by the Authority. The Company .shall provide the Authority with the details of those transactions
Article 21
The Company shall charge the Member causing the suspension of the transaction an amount of five (5) Omani rials per security, up to a maximum of five hundred (500) Omani rials per suspended transaction, for each day as of Trading day (T) and until the date of remedying the .cause of suspension
Article 22
The Company shall notify the Member of the fines incurred thereby within seven (7) working days from the date of suspension of the transaction, and the Member shall pay them within a period no later than fifteen (15) working days from the date of the claim. A delay in payment beyond this period shall result in an increase in the amount of the claim by one percent (1%) of the original claim for each day of delay, up to a maximum of fifteen (15) days. In the event that the Member defaults on the fines, the Company may request the Authority to suspend the .services provided to the Member Fourth Chapter Financial Settlements
Article 23
The financial settlement aims to ensure implementation of the obligations arising from the Trading of securities listed on the Stock Exchange for all transactions on settlement day through .the Company
Article 24
The Company shall provide the Members with the financial settlement pursuant to its

mechanism. It shall submit a statement of the net liabilities and accruals of each Member for their transactions using the approved form
Article 25
The Member shall - through the Bank concerned with the settlement - deposit the settlement amount due therefrom in the Settlement Account on the date set by the Company. The Company shall complete the financial settlement by the dates it sets, by deduction from the .Settlement Account to the accounts of the eligible members
Article 26
The Member shall be deemed to be in default of their obligation if they fail to pay the amounts due therefrom to the Settlement Account by the set date. The Company shall promptly notify .the Fund which shall replace them in their obligations The Fund shall transfer the amount that the Member has failed to pay to the Settlement Account. Where the Member is late in paying the settlement amount by the dates set by the Company and the Fund fails to intervene, a fine at the rate of two and a half per thousand (0.25%), not less than one hundred (100) Omani rials and not more than two thousand (2,000) .Omani rials, shall be collected for the Company pursuant to the controls it sets Fifth Chapter Settlement Management Fund
Article 27
A Settlement Management Fund shall be established to cover the deficits resulting from the Members of the settlement, for the purposes of completing the timely settlement of transactions .within the capabilities of the Fund
Article 28
The Fund shall be in charge of meeting the obligations arising from trading securities for which clearing and settlement are carried out in the Company, as follows: 1- Covering the cash deficit resulting from the failure of the buying Member in payment. 2- Covering the deficit in securities resulting from the failure of the selling Member in delivery by providing securities or Pecuniary .Compensation where securities cannot be provided
Article 29
The Fund shall be managed and supervised by a committee formed by decision of the General Manager of the Company. The Committee shall be headed by the Company’s General Manager :and shall have as members .The Executive Vice President of the Stock Exchange -1 .The Company’s Deputy General Manager for Operations -2 Two members of the company working in securities to be nominated by the Omani Securities -3 .Association, provided that their grade is not lower than General Manager
Article 30
The Committee shall be formed for a renewable period of three (3) years. The decision forming the Committee shall designate a vice-chairman and secretary. The vice-chairman shall replace the chairman in his absence or in case of an impediment preventing him from exercising his competencies. The decision shall likewise determine the remunerations and sitting fees of the .members and the secretary

Article 31
The Committee shall hold its meetings at the invitation of its chairman or whomever replaces him. For the Committee meetings to be valid, they shall be attended by the chairman or whomever replaces him and three of the members. The Committee shall pass its decisions by majority of the members present. In case of a tie, the side preferred by the chair of the meeting .shall prevail
Article 32
:The Committee shall discharge the following functions .Approve the general policies for managing the Fund -1 Ensure that the funds of the Fund are used for the purposes for which it was established and -2 invest those funds in the aspects specified herein without exposing the Fund to uncalculated .risks Open accounts in the name of the Fund at the Banks in which the balances of the Fund are -3 .deposited and grant authorisations on such accounts on behalf of the Fund .Enter into an insurance policy against risks of the Committee members if it sees fit -4 Issue instructions to the Banks in which the funds of the Fund are deposited to withdraw -5 them from the Fund’s account within the limits of the deficit to complete the financial .settlement between the Members .Follow up on the collection of the Fund’s receivables from the Members and others -6 .Sell or liquidate any of the Fund's assets to serve the interest of the Fund -7 .Borrow or obtain credit facilities to meet the settlement obligations against the Fund’s assets -8 Submit proposals for the development of the Fund's work and present them to the Stock -9 .Exchange and the Authority for approval .Appoint the qualified staff needed to manage the Fund and discharge the relevant functions -10 .Settle the administrative expenses of the Fund -11 Determine the amounts owed by the defaulting Members that were covered by the Fund on -12 .their behalf Appoint an external auditor from the offices accredited by the Authority and determine his -13 .fees Review and assess the adequacy of the Fund’s capital in light of the risks specific to each -14 Member, in accordance with the standards and controls set by the Committee and approved by .the Authority
Article 33
:Each Member shall comply with the following
Contributing to the Fund’s capital at the rate of five percent (5%) of their paid-up capital, -1 provided that the amount is not less than forty-five thousand (45,000) Omani rials and not more .than one hundred thirty-five thousand (135,000) Omani rials Notifying the Fund upon the restructuring of the Member’s capital by increase or decrease. -2 The contribution to the Fund shall be recalculated on the basis of the original contribution in

accordance with Clause (1) of this Article, exclusive of the accumulated profits added to the .account of their contribution to the Fund Refraining from claiming recovery of amounts in excess of the maximum limit of the original -3 contribution in accordance with Clause (1) of this Article, in the event that the total amount of the original contribution and the accumulated profits added to the account of their contribution .to the Fund exceeds the maximum limit set for the contribution Providing any other additional guarantees proposed by the Committee and approved by the -4 .Authority
Article 34
If the amount paid by the Fund on behalf of the defaulting Member in accordance with Article 35 hereof is equal to or less than the value of their contribution and the accumulated profits payable thereto in the Fund, the full amount shall be deducted from the Member’s contribution to the Fund. If the paid amount exceeds the value of their share in the Fund’s capital from their contribution to the Fund and the accumulated profits, the Fund shall have the right to take the :actions here-below in the following order Deduction of the contribution of the defaulting Member and the accumulated profits in full in -1 .the Fund Acquisition by the Fund of the purchased securities of which value was not paid by the -2 Member, according to the data and documents they submit to the Fund and pursuant to the .procedures set by the Committee and approved by the Authority .Deduction of the Company’s contribution and the accumulated profits in full in the Fund -3 Deduction of the Stock Exchange’s contribution and the accumulated profits in full in the -4 .Fund Pro rata deduction of the contribution of the remaining clearing Members and the -5 .accumulated profits in the Fund .Any other additional guarantees proposed by the Committee and approved by the Authority -6
Article 35
The Fund shall notify the defaulting Member that it has replaced them in their obligations to cover the cash deficit or the deficit in securities and shall demand the Member to cover same for the Fund no later than 9:00 a.m. on the day following payment day. If the Member fails to pay by the set date and the customer fails to pay the value of the securities assigned to the Fund, the Stock Exchange shall assign one of the Members to sell the securities registered in the name of the Fund and shall transfer the sale proceeds to the Fund’s account, provided that the defaulting Member is charged any consequent differences for the Fund. Any profits that may result from the sale as well as any profits or returns payable for the securities during the period of their .registration in the name of the Fund shall belong to the Fund
Article 36
Where the Fund replaces the defaulting Member in accordance with the provision of Article 35 hereof, the defaulting Member shall incur the financial liabilities, and such amounts shall be :collected for the Fund as follows Delay fine = (0.25% x amount of deficit) two and a half per thousand, provided that the fine is not less than one hundred (100) Omani rials and not more than two thousand (2,000) Omani .rials Interest = (amount of deficit x 15%) x (number of days of delay/365), to be paid by the Member

within a period no later than fifteen (15) working days from the date of the claim. The delay in payment within this period shall increase the claim amount by one percent (1 %) of the original .claim amount per day of delay up to a maximum of fifteen (15) days
Article 37
If the defaulting Member fails to pay the amounts owed by them to the Fund by the set date, the Authority shall, at the request of the Fund, notify the Stock Exchange to suspend the Member from Trading until they meet their obligations. The Fund may likewise coordinate with .the Company to suspend its services from the defaulting Member
Article 38
:The funds of the Fund shall be invested in a manner that protects and develops them, as follows .Bank deposits within the Sultanate of Oman -1 Government bonds and Sukuk or any government debt instruments listed on the Stock -2 Exchange. The decision to invest shall be taken by the Committee after reviewing the appropriate alternatives available, while taking into account mainly the liquidity and risk elements when choosing among the available alternatives and ensuring that the Fund has .sufficient liquidity to pay any claim it receives
Article 39
Financial statements shall be prepared for the Fund separately from the Company’s accounts .and they shall be audited by an external auditor
Article 40
.The fiscal year of the Fund shall begin on January 1 and end on December 31 of each year
Article 41
At the end of each fiscal year, the return shall be distributed by adding it to the Members' contributions to the Fund’s capital in proportion to the cash shares of each Member with respect .to the total contributions to the Fund
Article 42
The Member shall be entitled to receive their net rights from the Fund within ninety (90) days from the date of revocation of the licence by the Authority, after submitting proof that they have no financial liabilities towards their Customers in relation to the brokerage activity or to the Authority, Stock Exchange, Company or Omani Securities Association, from the Company’s .external auditor or any external auditor from the Authority’s accredited offices Sixth Chapter Transfer of Ownership of Securities Excluded from the Trading System
Article 43
The Company shall transfer ownership of the Securities for the following transactions that are :excluded from Trading .Inheritance transfers -1 .Family transfers -2 .Transfers between accounts belonging to the same person -3

.Internal transfers -4
.(Repurchase agreement transfers (REPO -5
.(Transfers of international certificates of deposit (ADR/GDR -6 .Joint listing transfers -7 .Transfers pertaining to the execution of judicial decisions -8 .Transfers pertaining to the division of jointly owned securities -9 .Transfers pertaining to the correction of subscription errors -10 Transfers pertaining to the donation of securities to charitable or social associations -11 .registered with the official authorities .Transfers pertaining to securities contained in wills -12 .Transfers resulting from mergers -13 .Transfers resulting from errors in merging shareholders’ accounts -14 .Transfers resulting from the correction of securities fractions -15 .Transfers pertaining to voluntary purchase transactions -16 .Transfers pertaining to late confirmation by the Custodian -17 .Transfers pertaining to rejected transactions in the account for processing transactions -18 .Transfers pertaining to swap transactions -19 Any other transfers executed outside the Trading system subject to approval thereof by the -20 .Authority The transfer shall be performed pursuant to the procedures set by the Company, provided that .these specify the data and documents to be submitted for completing the transfer
Article 44
It shall not be permissible to transfer ownership of the securities in the transfers provided for in
Article 43 hereof unless after establishing ownership and transferability of the securities subject
.of the transfer
Article 45
The transfers provided for in Article 43 hereof shall not entail any financial settlements with the Company and the parties to the transfer shall be responsible between them for settling the financial liabilities, if any. The foregoing provision shall exclude transfers related to voluntary .purchase transactions
Article 46
The inheritance transfers referred to in Article 42 hereof shall designate the transfer of ownership of securities from the deceased to his legal heirs according to the shares of inheritance mentioned in the certificate of succession, subject to submission thereof by the .holders or the legal representatives thereof
Article 47

Securities may not be transferred from the account of the deceased to a joint account unless it is not possible to open new personal accounts for the heirs. The dealings on the joint account shall be limited to sale transactions. A commission shall be paid to the Company for such transfers at the rate of three per ten thousand (0.0003) of the market value of the securities devolving upon the heirs. It shall be charged from one of the heirs solely, provided that it is not less than one .Omani Rial for each transfer
Article 48
The family transfers referred to in Article 43 hereof shall designate the transfers limited to .transferring ownership of securities between the father, mother, children, husband and wife The prescribed commission shall be paid to the Company for such transfers at the rate of three per ten thousand (0.0003) of the market value of the securities, to be charged from each party, .provided that it is not less than two Omani rials for each transfer
Article 49
The transfers between accounts belonging to the same person referred to in Article 43 hereof shall designate the transfers limited to the ownership of securities that are performed between the shareholders’ accounts and their accounts under trust management with the trust account management companies, and between the shareholder’s accounts registered under the Custodian’s account and his personal name, and the transfers performed between the Custodians, provided that the Custodian is licensed by the Authority, and between accounts .belonging to the same person
Article 50
For the purposes of implementing Article 49 hereof, a commission shall be paid to the Company for the transfers belonging to the same person at the rate of one per ten thousand (0.0001) Omani rials of the market value of the securities, provided that it is not less than five (5) Omani .rials and not more than fifty (50) Omani rials for each transfer In the cases where more than one application is submitted for the same person on the same day to transfer ownership of securities between his accounts, the commission shall be calculated on .the basis of one transfer only
Article 51
The internal transfers referred to in Article 43 hereof shall designate the transfers that are limited to the ownership of securities between a sole proprietorship or a single person company .and its owner A commission shall be paid to the Company for such transfers at the rate of three per ten thousand (0.0003) of the market value of the securities, provided that it is not less than two Omani rials, and up to a maximum of fifty (50) Omani rials for each transaction, and it shall be .charged from the applicant
Article 52
The repurchase agreement transfers referred to in Article 43 hereof shall designate the transfers limited to the ownership of government development bonds, government-issued Sukuk, treasury bills or any other products accepted by the Central Bank of Oman, to and from the accounts of .Banks and their Islamic windows or Islamic Banks in relation to repurchase agreements The prescribed commission of fifty (50) Omani rials shall be paid to the Company for such .transfers, to be charged from the applicant for each transaction

Article 53
The transfers of international certificates of deposit referred to in Article 43 hereof shall designate the transfers limited to the ownership of securities to and from the account of the entity managing the Trading of international certificates of deposit. A commission shall be paid to the Company for such transfers at the rate of two and a half per ten thousand (0.00025) Omani rials of the market value of the securities, to be charged from the applicant, provided that it is not less than ten (10) Omani rials and not more than five hundred (500) Omani rials for each . transaction
Article 54
The joint listing transfers referred to in Article 43 hereof shall designate the transfers limited to the ownership of securities to and from joint listing accounts. The prescribed commission shall .be paid to the Company for such transfers in accordance with the listing agreement
Article 55
The transfers related to the execution of judicial decisions referred to in Article 43 hereof shall designate the transfers limited to the ownership of securities based on the order of the execution judge from the account of the enforcee to the account of the claimant. A commission shall be paid to the Company for such transfers at the rate of one per thousand (0.001) of the market value of the securities, to be charged from the claimant, provided that it is not less than .five (5) Omani rials for each transaction
Article 56
The transfers related to the division of jointly owned securities referred to in Article (43) hereof shall designate the transfers limited to the ownership of securities from jointly owned accounts to the personal accounts of shareholders. The prescribed commission shall be paid for the Company for such transfers at the rate of three per ten thousand (0.0003) Omani rials of the market value of the securities, to be charged from the applicant, provided that it is not less than .two (2) Omani rials, and up to a maximum of fifty (50) Omani rials for each transaction
Article 57
The transfers related to the correction of subscription errors referred to in Article 43 hereof shall designate the transfers limited to transferring ownership of securities for the purposes of correcting errors in subscriptions. A commission shall be paid to the Company for such transfers at the rate of one per ten thousand (0.0001) Omani rials of the market value of the securities, to be charged from the applicant, provided that it is not less than ten (10) Omani rials, and up to a .maximum of fifty (50) Omani rials for each transaction
Article 58
The transfers pertaining to the donation of securities to charitable or social associations referred to in Article 43 hereof shall designate the transfers limited to the ownership of securities from the shareholders’ accounts to the accounts of charitable or social associations licensed by the .official authorities
Article 59
The transfers pertaining to securities contained in wills referred to in Article 43 hereof shall designate the transfers limited to the ownership of securities from the shareholders’ accounts to the accounts of the assignees under the will approved by the concerned authority. A commission shall be paid to the Company for such transfers at the rate of one per thousand (0.001) of the market value of the securities, to be charged from the legatee, provided that it is not less than .five (5) Omani rials for each transaction

Article 60
The transfers resulting from mergers referred to in Article 43 hereof shall designate the transfers limited to transferring ownership of securities that are performed between the accounts of the .merged companies or the companies resulting from the merger A commission shall be paid to the Company for such transfers at the rate of one per ten thousand (0.0001) Omani rials of the market value of the securities, at a minimum of ten (10) Omani rials, and up to a maximum of fifty (50) Omani rials for each transfer, to be charged from .the applicant
Article 61
The transfers resulting from errors in merging shareholders’ accounts referred to in Article 43 hereof shall designate the transfers limited to the ownership of securities that are performed .between the accounts merged with the merging accounts by error
Article 62
The transfers resulting from the correction of securities fractions referred to in Article 43 hereof shall designate the transfers limited to the ownership of securities that are performed between the fractions accounts registered in the name of the issuer and the accounts of the eligible .shareholders The prescribed commission amounting to ten (10) Omani rials for each transfer shall be paid to .the Company for such transfers, to be charged from the issuing company
Article 63
The transfers pertaining to voluntary purchase transactions referred to in Article 43 hereof shall designate transfers limited to the ownership of securities that are performed between the accounts of the selling shareholders and the processing account to cover the deficit in the .balance of securities A commission shall be paid to the Company for such transfers which is the same commission prescribed for the transactions on the Stock Exchange, to be charged from the Members parties .to the transaction
Article 64
The transfers pertaining to the late confirmation by the Custodian referred to in Article 43 hereof shall designate the transfers limited to the ownership of securities that are performed to and from the accounts of shareholders of the Custodian and the clearing Member as a result of .the acceptance of previously rejected transactions The Company shall be paid a commission for such transfers amounting to fifty (50) Omani rials .for the shareholder and security for each transfer, to be charged from the Custodian
Article 65
The transfers pertaining to rejected transactions in the account for processing transactions referred to in Article 43 hereof shall designate the transfers limited to the ownership of securities that are performed to and from the processing account for rejected transactions to the .Member’s wallet account A commission shall be paid to the Company for such transfers amounting to ten (10) Omani rials .for the issuing company for each transfer, to be charged from the Member
Article 66

The transfers pertaining to swap transactions referred to in Article 43 hereof shall designate the transfers limited to the ownership of securities of which nature requires an agreement between two parties to swap a security listed on the Stock Exchange for another listed one prior to their .execution A commission shall be paid to the Company for such transfers at the rate of five per ten thousand (0.0005) of the market value of the securities, at a minimum of one (1) Omani rial for .each transfer transaction from each party, to be charged from the applicant