Kuwait Court of Cassation principle number 1754

The principle is that trading in shares of shareholding companies occurs through commercial methods without following the procedures for assignment of rights. A shareholder’s transfer of his shares to a third party. Accomplished by mere agreement. The effect of this. Termination of the shareholder’s status in the company and substitution of the transferee in all his rights and obligations. Invoking the transfer against the company. Its condition. - Once the transfer is completed with all its requirements satisfied, there is no basis for the company’s approval or obtaining a licence.