Commercial Companies Law

Article 232 — Article (232) Bonds / Sukuk Issuance Conditions

Part Four: Public Joint Stock Companies · Chapter Five: Shares, Bonds and Sukuk

1. The bonds or Sukuk or any other debt instruments shall be issued only based upon a special resolution by the General Assembly of the company. The company may delegate the board of directors to determine the date of issuing the bonds or Sukuk. 2. The SCA shall issue a resolution to determine the conditions, controls and procedures of issuing the bonds, Sukuk or any other debt instruments.

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