Unless the context otherwise indicates, the following words and phrases, wherever they appear in this Law, shall have the meaning herein specified:
- Kingdom: the Kingdom of Saudi Arabia.
- The Authority: the Capital Market Authority.
- The Board: the Board of the Capital Market Authority.
- The Chairman: the Chairman of the Board of the Capital Market Authority.
- Person: any natural or legal person that is recognized as such under the laws of the Kingdom.
- The Exchange: the Saudi Stock Exchange.
- Trading: buying and selling of securities.
- Issuer: a person who is issuing or intending to issue securities.
- Affiliate: a person who controls another person or is controlled bythat other person, or who is jointly being controlled with that person by a third person.
- Control: the direct or indirect ability or power to exercise effective influence over the actions and decisions of another person.
- Underwriter: a person who buys securities from the issuer or an affiliate of the issuer for the purpose of offering, placing and marketing such securities to the public, or a person who sells securities on behalf of the issuer or an affiliate of the issuer for the purpose of making a public offering and placement of such securities.
- Relatives: husband, wife and minor children.
- Placement or offering of securities: issuing securities, inviting the public to subscribe therefor or the direct or indirect marketing thereof; or any statement, announcement or communication that has the effect of selling, issuing or offering securities, but does not include preliminary negotiations or contracts entered into with or among underwriters.
- Investment Adviser: an adviser who provides, offers or agrees to provide, advice to others in their capacity as investors or potential investors, in relation to purchasing, selling, subscribing or underwriting a security, or exercising any right conferred by a security to acquire, dispose of, underwrite or convert a security.
- The Center: the Securities Depositary Center.
- The Committee: the Committee for the Resolution of Securities Disputes.
- The Implementing Regulations: the rules, instructions and procedures issued by the Authority for the implementation of the provisions of this Law.
- Internal Regulations: the regulations issued by the Authority in relation to the Authority’s administrative and financial affairs and its personnel and staff affairs.