Jordan Securities Commission Registers New Securities & Accredits New Natural Persons to undertake Financial Services Businesses
On November 2.2011 Jordan Securities Commission (JSC) represented by its Board of Commissioners & chaired by Dr. Bassam Saket, decided to approve new securities registration for a number of companies. Provisions of Article (5) of the Securities Law No. (76) for the year 2002 stipulates that: ‘Every Issuer in the Kingdom shall submit to the Commission an application for registering securities therewith in accordance with the Instructions issued by the Board’. By virtue of this Article every issuer of securities is obliged to submit to the (JSC) an application to register these securities & to have (JSC) prior approval.
The Board of Commissioners approved the following:
1. Registration of the 32nd issuance of Jordanian treasury bonds for the year 2011 at a maturity date on October 5.2016, at a value of JD (46.8) million & address the Securities Depository Center (SDC) to register them.
2. Registration of the 33rd issuance of Jordanian treasury bonds for the year 2011 at a maturity date on October 9.2014, at a value of JD (50) million & address the Securities Depository Center (SDC) to register them.
3. Registration of the 34th issuance of Jordanian treasury bonds for the year 2011 at a maturity date on October 11.2013, at a value of JD (50) million & address the Securities Depository Center (SDC) to register them.
4. Registration of capital increase in shares of Al-Tajamouat for Touristic Projects Company of (25) million shares, at an issuance price of JD (0.72) per share or (90%) of the Company share market closure value of which is higher on the date of the Board of Commissioners approval via non public offer. Allocate increase in shares to the following shareholders:
• To TM Invest Company of JD (9.280.000) million, at an issuance price of JD (0.72) per share or (90%) of the Company share market closure value of which is higher on the date of the Board of Commissioners approval.
• To Amlak Invest Company of JD (3.000.000) million, at an issuance price of JD (0.72) per share or (90%) of the Company share market closure value of which is higher on the date of the Board of Commissioners approval.
• To Al-Salam Universal for Investment Limited Company of JD (5.000.000) million, at an issuance price of JD (0.72) per share or (90%) of the Company share market closure value of which is higher on the date of the Board of Commissioners approval.
• To Bank Al Etihad Company of JD (720.000) thousand, at an issuance price of JD (0.72) per share or (90%) of the Company share market closure value of which is higher on the date of the Board of Commissioners approval.
The following terms must be fulfilled:
• It is prohibited to deal in these shares for one year starting from the date of fulfilling issuance procedures at (JSC).
• Shares issuance procedures must be fulfilled within at least (3) weeks from notifying the Company of the Board of Commissioners decision to approve registration. Shares that were not fulfilled within the above stated period of time will be considered unsubscribed shares.
• If any of the above stated shareholders do not wish to subscribe in the allocated shares or part of these shares, the remaining unpaid ones will be unsubscribed shares subject to (JSC) approval to be covered.  
• Distribute fractions of shares resulting from allocations to any shareholder stated above.
• Fees must be settled as deemed proper.
5. Registration of the 38th issuance of Jordanian treasury bonds for the year 2011 at a maturity date on October 23.2013, at a value of JD (75) million & address the Securities Depository Center (SDC) to register them.
6. Registration of the 35th issuance of Jordanian treasury bonds for the year 2011 at a maturity date on October 16.2014, at a value of JD (50) million & address the Securities Depository Center (SDC) to register them.
7. Registration of the 36th issuance of Jordanian treasury bonds for the year 2011 at a maturity date on October 18.2016, at a value of JD (50) million & address the Securities Depository Center (SDC) to register them.
8. Registration of the 37th issuance of Jordanian treasury bonds for the year 2011 at a maturity date on October 19.2014, at a value of JD (100) million & address the Securities Depository Center (SDC) to register them.
To regulate the process of issuance, its integrity & its disclosure, the Instructions of Issuance & Registration of Securities for 2005 oblige the company/the issuer with the following:
• Publish at least twice, in two local daily newspapers about data & information related to the issuance process via non public offer, including issuance value & parties allotted to it this issuance. Indicate clearly, the number & date of the Board of Commissioners approval decision to register these shares & inform the (JSC).
The Board of Commissioners approved also, to accredit the following new natural persons to undertake financial services businesses by virtue of the provisions of Articles (47) & (48) of the Securities Law No. 76 for the year 2002 & of the Instructions of Financial Services Licensing & Registration for the year 2005. These Instructions oblige these persons to have a license from (JSC) to undertake such businesses:

Number
Name
Type of Accreditation
Company
1
Omar Ahmad Al-Nimer
Financial Brokerage
Financial Investments for Shares & Bonds

The above stated Instructions stipulate that licensees should pay (JSC) the required fees. (JSC) also stipulates a number of terms that must be fulfilled by the applicant, to be granted an accreditation for a natural person, mainly the following:
• Be competent, of good reputation & manners.
• Holder of a Bachelor Degree.
• Successfully pass examinations held by the (JSC).
• Participated in courses approved by the (JSC) for acquiring the required accreditation.