Stage 3: Shareholder Authentication and Central Registry Establishment

Year
2002

In order to enhance the procedures for auditing and inspecting the rights of securities ownership, the SDC pursuant to the Securities Law, obligated all issuers to provide the SDC with records of the owners of their securities in accordance with technical specifications that take into account best international practices and standards. At this stage, the SDC completed the necessary auditing procedures for those records and the procedures for registering under electronic entries in the central registry through its electronic systems to be integrated legal evidence of the registration, deposit and ownership of deposited securities instead of paper certificates that were issued by issuers for this purpose.

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