Kuwait Court of Cassation principle number 1504

Regulation of the offering of company shares for subscription in a manner safeguarding the interests of investors and companies and the stability of the economic system. Its implication. This regulation is considered to relate to public policy. Contravention of this regulation. Its effect. Absolute nullity of the transactions. Articles 77, 82, 83, 84, 86 of Law 15 of 1960 concerning Commercial Companies. An example of the nullity of a joint-stock company’s subscription in contravention of the regulation of the offering of shares for subscription.