Judicial principle — Kuwait Court of Cassation

Kuwait Court of Cassation principle number 3255

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

English translation of the principle

Shares in joint-stock companies. Their negotiability by commercial methods without following the procedures for assignment of rights. Its import. A shareholder may transfer his shares to a third party who takes his place in the rights and obligations, and this disposition may not be invoked against the company except from the date of its entry in the shareholders’ register maintained by the company.
Arabic original
أسهم الشركات المساهمة. قبولها للتداول بالطرق التجارية دون اتباع إجراءات حوالة الحق. مؤدى ذلك. للمساهم التنازل عن أسهمه للغير الذي يحل محله في الحقوق والالتزامات ولا يجوز الاحتجاج بهذا التصرف في مواجهة الشركة إلا من تاريخ قيده في سجل المساهمين الذي تحتفظ به الشركة.
Original Arabic judgment citations

(الطعن ١٩٠، ١٩٣/٢٠٠١ إداري جلسة ٢٦/٥/٢٠٠٣ مج القسم الخامس - المجلد السادس ص ٥٢٠)

Source: Court of Cassation legal principles collection — Commercial and Labour — Volume 9 — Ministry of Justice — Court of Cassation — Technical Office. Printed page 548. PDF pages: 548.

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