Boards Decisions 04/05/2010  

By virtue of the provisions of Article (12/Q) and (123/B) of the Securities Law, the Jordan Securities Commission (JSC) Board of Commissioners decided the following regarding the mechanism of sending notification letters to persons wishing to hear their testimonies as a measure to fulfill investigation procedures:
*A- Notification letters, regarding violations of the provisions of the Securities Law, its regulations, instructions and decisions issued pursuant to it will be sent to persons wishing to hear their testimonies as a measure to fulfill investigation procedures as follows:
1. The concerned person will receive the notification letter either physically or by anyone who legally deputize for him. The letter can also be sent to his last available mail box number at (JSC) records. If the notification letter is sent to the concerned person by the previously mentioned method, the person residing in the Kingdom will be considered notified after 15 days of the sending date. While, for the person residing abroad it will be 30 days. Proof regarding this, can be made by using the available service in the Post Office i.e. the recorded delivery system.
2. All companies and legal persons will be notified at companies’ headquarters by anyone who legally deputize for them or by anyone in charge of managerial affairs or by any general partners or by anyone on behalf of them. If the company has no managerial headquarter, notification letters can be received by any of the above mentioned persons in companies headquarter excluding workers, whether physically or at work place. If the notification letter concerns the company branch, the letter must be received by the person in charge of running the branch or by anyone legally deputized to receive letters.
3. If the required person to be notified is minor or incompetent, parents or guardians must be notified instead.
4. If it is impossible to notify the person by virtue of the above provisions, the notification letter can be advertised in at least one local daily newspaper according to a decision made by the (JSC) Chairman. The advertisement will indicate that the required person must attend to the (JSC) according to the specified period of time by the (JSC), in order to receive the notification letter. If that person does not attend to the (JSC) to receive the letter, he will be considered legally notified.
*B- Decision content will be published on the (JSC) electronic website.