20 April 2021


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Main Page / Legislations / Law No. 5 of 2002, promulgating the Law of Commercial Companies / Incorporation of the Company / Chapter Two / Article 78
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Law No. 5 of 2002, promulgating the Law of Commercial Companies

Law Summary Record Type: LawNumber: 5Date: 25/05/2002 Corresponding to 14/03/1423 HijriNumber of Articles: 348Status: In force
Official Gazette :Issue: 7Offcial Journal Issue Publication Date: 03/08/2002 Corresponding to 25/05/1423 HijriPage from: 17
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  1. from 02/10/2002
    To 27/06/2006
  2. from 27/06/2006
  1. Article 78 ( Amended By Law 16 / 2006 )
    Starting Date: 02/10/2002 Expiry Date : 27/06/2006
     Subscription shall be undertaken at one or more banks licensed to operate in the State. Payment of instalments due upon subscription shall be made at the bank. The payment shall be credited to a special account opened in the name of the company.
    The subscription shall be kept open for a minimum period of one month and a maximum period of three months.
  2. Article 78
    Starting Date: 27/06/2006
     Subscription shall be undertaken at one or more banks licensed to operate in the State. Payment of instalments due upon subscription shall be made at the bank. The payment shall be credited to a special account opened in the name of the company.

Article 78 - (Amended By Law 16 /2006)
Starting Date : 27/06/2006

 Subscription shall be undertaken at one or more banks licensed to operate in the State. Payment of instalments due upon subscription shall be made at the bank. The payment shall be credited to a special account opened in the name of the company.

Last Article Text
Starting Date : 02/10/2002 Expiry Date: 27/06/2006

 Subscription shall be undertaken at one or more banks licensed to operate in the State. Payment of instalments due upon subscription shall be made at the bank. The payment shall be credited to a special account opened in the name of the company.
The subscription shall be kept open for a minimum period of one month and a maximum period of three months.

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