Kuwait Court of Cassation principle number 3635

Regulating the offering of company shares for subscription in a manner safeguarding the interests of investors and companies. Its condition. That the subscription be genuine. This relates to public order. Prohibition of sham subscriptions or subscriptions in fictitious names. Contravention thereof. Its effect. Absolute nullity. Any interested person may invoke it, and the court shall rule on it of its own motion. An example concerning the nullity of purchasing Kuwaiti citizens' subscription rights in shares of Boubyan Islamic Bank.