Kuwait Court of Cassation principle number 1636
State of Kuwait · Commercial and Labour — Volume 9 · Ministry of Justice — Court of Cassation — Technical Office
English translation of the principle
Investment companies being subject to supervision by the Central Bank. Its implication. They are prohibited from conducting 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 upon 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. 7- National companies:-
Arabic original
خضوع شركات الاستثمار لرقابة البنك المركزي. مؤداه. حظر ممارستها لنشاطها قبل تسجيلها في سجل الشركات لديه. وله 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. ٧- الشركات الوطنية:-Original Arabic judgment citations
(الطعون ٥٨٣، ٦٥٩، ٦٦٢/٢٠٠٠ إداري جلسة ١٢/١١/٢٠٠١ مج القسم الرابع - المجلد الخامس ص ١٣٣)
Source: Court of Cassation legal principles collection — Commercial and Labour — Volume 9 — Ministry of Justice — Court of Cassation — Technical Office. Printed page 287. PDF pages: 287.
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