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                General and Interim Provisions

                Article (114)
                Securities shall enjoy, in accordance with the provisions of this Law, the following privileges:
                A- The finality and conclusiveness of securities trades in stock exchanges.
                B- Ownership rights and due prices in accordance with the Center’s accounts.
                C- Irrevocability of the final settlement of trading contracts on the Market.

                Article (115)
                A- Subject to the provisions of Paragraph (B) of this Article, all licenses issued by the Commission pursuant to the provisions of the Securities Law No. (23) for the Year 1997 are hereby deemed valid. All Licensed Persons shall make adjustments in accordance with the provisions of this Law and the regulations, instructions and decisions issued pursuant thereto, and within the time period specified thereby.
                B- All licenses issued by the Commission for any person to carry out depository activities in accordance with the Temporary Securities Law No. (23) for the Year 1997 shall be deemed cancelled de jure. Any person licensed to carry out such activities shall discontinue to do so and must abide by the Board’s decisions issued with respect to the liquidation of these activities.

                Article (116)
                The provisions of this Law pertaining to the Center’s operations shall come into force pursuant to decisions issued by the Board, and on such dates as it shall determine as appropriate.

                Article (117)
                All Issuers of securities shall submit to the Center the registers of owners of securities issued by them, and any data related to such registers and owners of securities entered therein, in accordance with instructions issued by the Center for this purpose.

                Article (118)
                The Amman Stock Exchange shall be deemed as licensed pursuant to the provisions of this Law, provided that it adjusts its status to comply with the licensing requirements and conditions provided for in this Law.

                Article (119)
                A- If the board of directors of the Amman Stock Exchange or that of the Center resigns, or in case the quorum thereof is not met, or for any other reason pertaining to public or capital market interest, the Board may form a temporary management committee of experience and competence.
                B- The term of the committee referred to in Paragraph (A) shall be six months, renewable once. This committee shall be responsible for managing the Amman  Stock Exchange or the Center, calling upon invitations for its general assembly within that period to elect a new board of directors, in accordance with the by-laws of the Amman Stock Exchange or the Center.

                Article (120)
                A- The Commission may establish provident and housing funds for its employees and personnel, which funds shall be regulated by regulations issued for this purpose.
                B- The Amman Stock Exchange and the Center may establish provident and housing funds for their employees and personnel, which funds shall be regulated pursuant to the Amman Stock Exchange and Center’s by-laws.
                C- The funds referred to in Paragraphs (A) and (B) of this Article shall have a legal personality.

                Article (121)
                Notwithstanding the provisions of the Stamp Duties Law in force, prospectuses of securities, registration thereof, trading therein and any transactions related thereto shall be exempt from stamp duties.

                Article (122)
                A- The Temporary Securities Law No. (23) for the Year 1997 and its amendments shall be repealed.
                B- Any provision stated in any other legislation, to the extent it is in conflict with the provisions of this Law and the regulations, instructions and decisions issued pursuant thereto, hereby is repealed.
                C- All regulations, instructions and decisions issued pursuant to the Temporary Securities Law No. (23) for the Year 1997 shall remain in force until they are repealed or replaced by others.
                D- All by-laws and instructions issued by the Amman Stock Exchange and the Center shall remain in force until they are repealed or replaced by others.

                Article (123)
                A- The Council of Ministers, upon the recommendation of the Board, shall issue the necessary regulations to implement the provisions of this Law, including the administrative and financial affairs, supplies and works affairs, and the affairs of the employees and personnel of the Commission, including the creation of the incentives to assist them in directing their efforts towards achieving the objectives of the Commission and uplifting their scientific and professional standards.
                B- The Board shall issue the instructions and decisions necessary to implement the provisions of this Law.

                Article (124)
                The Prime Minister and the Ministers shall be responsible for executing the provisions of this Law.





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