Article 163 of Capital Markets Authority Law

First: - Upon completion of the transitional phases referred to in this Law, the following laws, decree-laws and decrees shall cease to apply: - 1 - The Decree issued on 14 August 1983 regulating the Kuwait Stock Exchange. 2 - The Decree regulating the settlement of securities trading transactions and the clearing house at the Kuwait Stock Exchange, dated 27 December 1986. - Law No. 12 of 1998 concerning licensing for the establishment of leasing and investment companies. - Decree-Law No. 31 of 1990 concerning the regulation of securities trading and the establishment of investment funds. h - Law No. 2 of 1999 concerning disclosure of interests in the shares of shareholding companies. Second: - The provisions of Articles 323 to 328 of the Commercial Code shall not apply to exchanges to which the provisions of this Law apply. Third: - The provisions of Chapters Five and Six of Part Nine of the Companies Law shall be repealed.