Kuwait Court of Cassation principle number 2199
State of Kuwait · Civil Matters — Volume 10 · Ministry of Justice — Court of Cassation — Technical Office
English translation of the principle
Investment companies being subject to Central Bank supervision. Its import. Prohibiting them from carrying on their activities before registration in its register of companies. It may strike them off in specified circumstances by a decision issued by the Minister of Finance on the proposal of the Bank's Board of Directors and after notifying them to submit their observations to safeguard their right of defence. Omission of those procedures. Its effect. Nullity of the decision.
Arabic original
خضوع شركات الاستثمار لرقابة البنك المركزي. مؤداه. حظر ممارستها لنشاطها قبل تسجيلها في سجل الشركات لديه. له شطبها في أحوال معينة بقرار يصدر من وزير المالية بناء على اقتراح مجلس إدارة البنك وبعد إخطارها لإبداء ملاحظاتها لكفالة حق الدفاع لها. إغفال تلك الإجراءات. أثره. بطلان القرار.Original Arabic judgment citations
(الطعون ٥٨٣، ٦٥٩، ٦٦٢/٢٠٠٠ إداري جلسة ١٢/١١/٢٠٠١ مج القسم الرابع - المجلد الثالث ص ٢٠١)
Source: Court of Cassation legal principles collection — Civil Matters — Volume 10 — Ministry of Justice — Court of Cassation — Technical Office. Printed page 411. PDF pages: 411.
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