Article 131 of Companies Law

A shareholder's subscription shall be made by an application signed by him or his representative. The subscription application must include a statement of the company's name, purpose and capital, the subscriber's name and domicile in Kuwait, the number of shares subscribed for and the installments paid, and his acceptance of the provisions of the company contract, or any other particulars specified by the Authority. Subscription may be made by electronic means through mechanisms provided by banks to their customers holding bank accounts, or provided by clearing agencies to their customers holding trading accounts. The subscriber's use of his username and password delivered to him by the bank or clearing agency in transmitting the subscription application electronically shall be deemed a depression application signed by the subscriber. The subscriber shall pay the installments payable in cash in Kuwaiti dinars against a receipt signed by the bank stating the subscriber's name and domicile, the date of subscription, the number of shares subscribed for and the installments paid. The subscriber may pay the installments payable by cheque or bank transfer, and the amount paid shall be entered in his account. The subscription shall be deemed final when the subscriber receives the aforementioned receipt or when the amount is entered in his account, provided that it is entered to the account of the company under incorporation.