Holding Company
Holding Companies (226 – 229)
Article 226
The companies provided for in this section shall be called a holding company. This term shall be mentioned in all papers, announcements, correspondence and other documents issued by them besides their trade name.
Article 227
The holding company is a company whose purpose is to own shares of Kuwaiti or foreign shareholding companies, as well as to own shares or stakes in companies with limited Kuwaiti or foreign liability, or to participate in the establishment of these two types of companies, manage, lend and guarantee them with others.
Article 227
The holding company is a company whose purpose is to own shares of Kuwaiti or foreign shareholding companies as well as to own shares or stakes in companies with limited Kuwaiti or foreign liability, or to participate in the establishment of these two types of companies, manage, lend and guarantee them with others.
Article 228
Subject to the provisions of the preceding Article, the Holding Company may carry out all or some of the following activities: 1. Lending to companies in which it owns shares and guaranteeing them with third parties. In this case, the participation rate of the Holding Company in the capital of the borrowing company shall not be less than 20%. 2. Owning industrial property rights such as patents, industrial trademarks, industrial fees or any other related rights and leasing them to other companies for their exploitation, both inside and outside Kuwait. 3. Owning movables and real estate necessary to carry out its activities within the limits permitted by law.
Article 228
The Holding Company may undertake all or part of the following activities: 1. Owning shares or stakes in Kuwaiti or non-Kuwaiti companies. Participate in the management of companies in which it owns shares. 3. Lending to companies in which it owns shares and guaranteeing them with third parties. In this case, the holding company’s share in the capital of the assumed company should not be less than 20%. 4. Owning industrial property rights such as patents, industrial trademarks, industrial fees or any other related rights, and leasing them to other companies for exploitation, both inside and outside Kuwait. 5. Owning movables or real estate necessary to carry out its activities within the limits permitted by law.
Article 229:
The Holding Company shall take the form of a closed shareholding company and shall be subject to the provisions of this Law, provided that it does not contradict the provisions of this Part.
Part IX
General Provisions (230 – 230)
Article 230:
It is prohibited for all individual companies and institutions to deal with the sale, purchase, mortgage, issuing a transfer of rights to others, issuing a power of attorney to act for others, or accepting an agency to act on behalf of others in vouchers or houses intended for private housing purposes in any location and in any project, whether directly or Indirectly, it is considered null and void as if not every transaction and every action that would transfer the ownership of the vouchers or houses allocated for the purposes of private housing is in violation of the provisions of this article.
