Kuwait Court of Cassation principle number 156

Benefiting from Law 41 of 1993 concerning the State's purchase of certain debts. Its condition. The customer's notarization of an acknowledgment of the amount of indebtedness according to the outstanding balance on 1/8/1993, by a deadline of 31/3/1994. This time limit relates to public policy and may not be amended or extended except by subsequent legislation. - 36 - Commercial - The bank managing the indebtedness reviewing its balance with local banks, investment companies subject to the supervision of the Central Bank of Kuwait, and the Finance House, and finding that it does not match the acknowledgment, whether by an increase or a decrease. Its effect: it may correct this balance without requiring the debtor to notarize it or to do so within a specified time limit. The reason for this. The law contains no such condition.