CMA Decision No. 15/Chairman of 2021 · UAE Federal
Amending instrument that changes the Central Depository Regulation (CMA Decision No. 19/Chairman of 2018). The CMA has consolidated its changes into the current text of the amended regulation and keeps this instrument in its archive of amending regulations.
Chairman's Decision No. (15/Chairman) of 2021 rewrote Article 8 of the Central Depository Regulation (Decision No. 19/Chairman of 2018), which sets the tasks of the Depository Centre, and cancelled Article 9. Issued in Arabic on 1 June 2021 by the Minister of Economy as Chairman of the Securities and Commodities Authority Board, after Board approval on 22 February 2021, it took effect on the date of issue.
Under new Article 8, paragraph First, the Depository Centre opens investors' accounts for depositing the securities they own, settles them and transfers their ownership on the instructions of the central clearing company under the settlement report, or on instructions from the Authority, the market or a judicial body, with issuers updating their own records accordingly; records all dealings in listed securities, and any dealing in listed securities not recorded under the decision is void; keeps the records proving each investor's ownership; registers pledges and attachments; ensures that final settlement complies with the law and the Authority's rules; distributes cash dividends and bonus shares and keeps investors' bank details; reviews its records; defines confidential information and who may see it, and what it must disclose; grants system access to those dealing with it; sets its fees and commissions subject to Authority approval; and transfers ownership of listed securities in cases exempt from trading on the floor or allowed by the market's general manager. Paragraph Second lets it deposit, register, keep, transfer or encumber securities not listed on the market under an agreement with their issuer, provided its obligations under the regulation are not affected. Article 2 cancels Article 9.
Article 8 was extended by Decision No. (16/Chairman) of 2023, which added omnibus accounts.
The Depository Centre, issuers of listed and unlisted securities, the central clearing company, brokers and investors whose securities are deposited, pledged or transferred through the Centre.
Arabic original text in 3 articles. Open the full text or jump to a provision:
| Article 1 (new Article 8, First, items 1–3) | The Centre opens investor accounts, settles and transfers ownership on clearing-company, Authority, market or court instructions, records all dealings in listed securities (unrecorded dealings are void) and keeps ownership records. |
| Article 1 (new Article 8, First, items 4–7) | The Centre registers pledges and attachments, ensures final settlement complies with the law, distributes cash dividends and bonus shares, keeps investors' bank details and reviews its records. |
| Article 1 (new Article 8, First, items 8–11) | The Centre defines confidential and disclosable information, grants system access, sets fees approved by the Authority, and transfers listed securities in cases exempt from floor trading. |
| Article 1 (new Article 8, Second) | The Centre may deposit, register, keep, transfer or encumber unlisted securities under an agreement with the issuer, without affecting its obligations under the regulation. |
| Article 2 | Cancels Article 9 of Decision No. (19/Chairman) of 2018 on the regulation of the central depository activity. |
| Article 3 | The decision applies from its date of issue and is published in the Official Gazette. |
Share transfers in listed companies, and in unlisted companies that use the Depository Centre, are where this Article reaches our clients. We explain that a dealing in listed securities not recorded by the Centre is void, prepare the corporate approvals and transfer documents the Centre needs, and coordinate with brokers and the Centre on pledges and off-floor transfers such as inheritance or group reorganisations. We are not licensed by the CMA.
| Amends | CMA Decision No. 19/Chairman of 2018 |
“Cites” and “Cited by” are built automatically from references in the full texts held in this library; they cover only instruments in the library.
Central Depository Regulation
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Amendment 16/Chairman of 2023 to Central Depository Regulation
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Central Clearing Party (CCP) Regulation
Regulates central clearing counterparty business: licensing of CCPs, how a CCP functions, its obligations, and the CMA’s control, inspection and penalty powers over it.
Capital Markets Law
Regulates the onshore capital market from 1 January 2026: financial activities subject to CMA licensing, capital market institutions, offering and listing of securities, …
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