Judicial principle — Kuwait Court of Cassation

Kuwait Court of Cassation principle number 1481

State of Kuwait · Commercial and Labour — Volume 9 · Ministry of Justice — Court of Cassation — Technical Office

English translation of the principle

Prohibition on shareholders of a joint-stock company disposing of their shares until three years have elapsed since incorporation. The prohibition encompasses both public subscription and subscription by the founders for all shares.
Arabic original
حظر تصرف مساهمي الشركة المساهمة في أسهمهم إلا بعد مضي ثلاث سنوات على التأسيس. شمول الحظر لحالتي الاكتتاب العام أو اكتتاب المؤسسين لجميع الأسهم.
Original Arabic judgment citations

(الطعن ٦١/٨٢ تجاري جلسة ٢٠/١٠/١٩٨٢ مج القسم الأول - المجلد الثاني ص ٢١٤)

Source: Court of Cassation legal principles collection — Commercial and Labour — Volume 9 — Ministry of Justice — Court of Cassation — Technical Office. Printed page 259. PDF pages: 259.

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