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The Kuwait Government Ministry of Trade and Economy (the Ministry) issued a statement which outlines that newly introduced regulations with regards to power of attorney (PoA).
The Kuwait Government Ministry of Trade and Economy (the
Ministry) issued a statement which
outlines that newly introduced regulations with regards to power of
attorney (PoA). These regulations have come into effect on 5 April
2019.
There were several rounds of discussions which took place
amongst various shareholders, where the Ministry finally amended
the terms as follows:
Late filing of the PoA within one
month from the date of filing
Softcopy of the PoA mandatory for
filing
A single PoA will suffice for filing
various applications which belong to the same applicants
The PoA will have a validity for a
period of 10 years.
The regulations states that the PoA should be accompanied by an
application upon which the term of three (3) months for late filing
shall not be applicable.
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