The Investment Studies Center (ISC) at the Union of Investment Companies (UIC) held a training program entitled “Administrative and Technical Procedures of the General Assemblies of Joint Stock Companies” in cooperation with Grant Thornton Management and Economic Consultancy Company WLL”, on 04th December 2019 at UIC Headquarters.
The instructor Emad Al-Hussein stated that the program was prepared according to the requirements of the supervisory entities with taking into consideration to cover all administrative, technical and legal aspects in the State of Kuwait considering the frequent and successive change of procedures from the supervisory authorities.
Ms. Fadwa Darwish, ISC Acting Director & Director of Technical Support at UIC, stated that the training program dealt with several axes of the administrative and technical procedures of the General Assembly in its three constituent, ordinary and extraordinary types, their respective competencies, voting mechanisms and quorum, in addition to the decision-making and voting mechanism according to law. She added that the course dealt with the extent of mandatory decisions issued by the Assembly and ways of filing an objection to them, in addition to the mechanism of developing a plan of action and a timetable to follow up the requirements of the procedures of the Assembly and other axes.
For his side, Mr. Hazem Al-Ajez, Partner at Grant Thornton Management and Economic Consultancy LLC, said that they are always keen to provide specialized materials needed by the local market, but for this program has combined administrative and technical procedures according to the requirements of all regulatory authorities represented by the Ministry of Commerce and Industry, Capital Markets Authority, Boursa Kuwait and Kuwait Clearing Company.
The program’s themes ranged from the internal procedures of the company to call and announce the general assembly to the stage of the assembly and the implementation of its decisions and deposit the minutes of the meeting with the various regulatory authorities according to a timetable and a plan of action to be developed by the executive management.
This program has been well received by the licensed and listed joint stock companies, especially in the period of the end of the fiscal year and the general assembly of all companies.
At the end of the training program, participants were awarded certificates.