Article 89 Of Chapter 8

Section: Collective Investment Schemes

The Authority may revoke the permission granted for marketing a Collective Investment Scheme established outside the State of Kuwait in any of the following events:

1 - Proven failure to meet any of the requirements for granting the permission.

2 - Cancellation is in the interest of the participants in the Scheme.

3 - The manager or Investment Controller or Custodian has violated any of the provisions of the Law or Bylaws, or has submitted to the Authority incorrect or misleading information.

* Article (89) is amended pursuant to Law No. 22 of 2015 Amending Some Provisions of Law No. 7 of 2010 regarding the Establishment of the Capital Markets Authority & Regulating Securities Activities.