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Article 7

The Board of Directors shall exercise all the powers required for the administration of the Exchange, and in particular the following:

1— Drawing up the overall policies and strategies of the Exchange.
2— Laying down the rules regulating trading in securities on the Exchange, and supervising the enforcement thereof, as well as supervising transactions and trading in the said securities. In all cases, any transactions concluded with respect to such securities shall, upon the transfer of the ownership thereof, be registered on the Exchange's records. A company whose securities have been subject to transactions executed outside the Exchange, shall give notice to the Exchange's Board of the transactions that took place. The Exchange's regulations shall determine the cases to be exempt from trading on the floor of the Exchange. Any trading in securities that is contrary to the provisions of this Article shall be deemed null and void.
3— Examining applications for the registration of stock brokers, listing shares of Bahraini joint stock companies, or any other securities on the Exchange, and adopting decisions in respect thereof.
4— Approving the Exchange's annual budget estimates and final accounts, and appointing the Auditors.
5— Proposing the Exchange's internal rules and regulations, which shall be promulgated by a Resolution issued by the Minister of Commerce.
6— Taking the appropriate action towards suspicious transactions, in accordance with the provisions of the Internal Regulations.
7— Ordering a temporary suspension of trading on the Exchange, or in the shares of one company or several companies, in the event of exceptional circumstances threatening the proper and regular conduct of business.
8— Forming specialised committees from amongst the Board members or others, whether on a permanent or temporary basis, as may be deemed fit by the Board.
9— Any other matters necessary for ensuring the proper and regular conduct of business at the Exchange, with a view to attaining its objectives.
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