Shabiba, 8 July 2024: The FSA has published in the Official Gazette Oman Decision 127/2024 amending some provisions of the regulation governing clearing and settlement which included a minor change to Article 14 of Oman Ministerial Decision No. 75/2022 issuing the regulation governing clearing and settlement.

Article 14 of Oman Ministerial Decision No. 75/2022 outlines that upon executing a sale or purchase transaction, the securities are recorded in the electronic system under the status of “Deemed Sold Awaiting Settlement” or “Deemed Bought Awaiting Settlement, Sale Permitted,” respectively.

Ownership is registered to the buyer on the day of settlement, and this settlement is considered final.

The amendment makes a small specific change to the wording of the original article 14 Oman Ministerial Decision No. 75/2022 by stating that the settlement cannot be “conditional or deferred”.

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