Article 50 of Capital Markets Authority Law

A clearing agency licence may be granted only to a joint-stock company that determines the capital of the Board of Commissioners, and its activity shall be a clearing agency licence may be granted only to a joint-stock company that determines the capital of the Board of Commissioners, and its activity shall be the management of clearing, settlement, central depository and safekeeping operations for securities, and matters related or connected thereto and required for the proper management of the agency. The Authority may request from the company applying for the licence any information or particulars it considers necessary. The Authority shall delimit the conditions that must be met for granting the licence and its procedures in the Executive Regulations of the Law.