Central Bank of Bahrain Law: Contents
Chapter 1 Companies Trading in Securities
Article (80) Definition of Companies Trading in Securities(a) Companies trading in securities are those whose objectives include one or more of the following activities:1. Promoting and underwriting securities or financing investments therein.2. Participating in incorporating of securities companies or increasing the capitals thereof.3. Forming and managing securities portfolios and investment funds.4. Depositing, clearance and settlement of securities.5. Brokering in securities transactions.6. Providing advisory services related to securities.7. Any other activities as approved by the Central Bank.
Article (81) Offers of Securities(a) Subject to the requirements of the Commercial Companies Law or any other law, no person may issue any securities in the Kingdom unless otherwise permitted by the Central Bank. The Central Bank shall specify the information and documents that are required for obtaining permission to issue Securities.(b) Securities may not be offered for public subscription, except by virtue of a prospectus approved by the Central Bank. A summary of the prospectus shall be published in two daily local newspapers, one in Arabic and the other in English.
Article (82) Contents of the Prospectus
The prospectus shall be prepared in such a form and shall contain such financial and other information as required by the regulations of the Central Bank.
Article (83) Types of Securities(a) The Central Bank shall specify the types of securities that may be issued, the methods of offering and dealing with them and the obligations of each issuing party.(b) As an exception from the provisions of the electronic dealings law, the Central Bank may issue electronic securities in such circumstances and with such conditions as it may determine.
Article (84) Supplementary Prospectus
The issuer of securities shall publish a supplementary prospectus, approved by the Central Bank, in two daily local newspapers one published in Arabic and the other in English, if any of the following occurs between the time of preparing the original prospectus and the time of issue of the securities:(a) There is a significant change in the information contained in the prospectus.(b) Any information that should have been included in the prospectus as if they existed at the time of preparing the prospectus.
Article (85) Responsibility of the Person who Prepares the Prospectus
Any person responsible for the preparation of the prospectus must ensure that the prospectus incorporates all the necessary information and that such information is not false or misleading.