Article 59 of Capital Markets Authority Law

The Authority may, by written notice, revoke the clearing agency licence granted to it in accordance with the provisions of this Law, effective from the day specified in the Authority's decision, in any of the following cases: 1 - The agency's loss of one of the conditions that qualified it to obtain the licence. 2 - If the agency ceases to perform the functions entrusted to it or which it is licensed to manage. - Liquidation of the agency. 4 - Failure to fulfil any obligation imposed upon it by this Law. h - Failure to provide information requested by the Authority or provision of incorrect or 1355 Home Page Law Index Capital Markets Authority Law Law No. 7 of 2010 concerning the Establishment of the Capital Markets Authority and the Regulation of Securities Activities misleading information. 6 - The agency's making any amendments to its objects in its memorandum of association or articles of association without obtaining the Authority's prior approval. 7 - If the agency requests revocation of the licence granted to it. The Authority shall publish the decision revoking the licence and its reasons in the Official Gazette.