Public joint companies listed in Muscat Securities Market
A joint stock company is a company whose share capital is divided into shares which shall be traded in the manner prescribed by law. A shareholder shall not be liable except to the extent of his/her shareholding in the share capital
A joint stock company shall consist of at least three (3) natural or juristic persons. The companies established solely by the Government or jointly with another shall be exempt from this provision.
The company shall have a trade name which shall not be a name of a natural person, unless the objective of the company is to exploit a patent registered in accordance with the law in the name of such person, or in the event of being converted to a joint stock company. The name of the company shall not be misleading as to its objectives, its identity or the identity of its members. The name of the company shall wherever it appears, be followed by the phrase “Public Omani Joint Stock Company” or the expression “SAOG”, or by the phrase “Closed Omani Joint Stock Company” or the expression “SAOC”. If a bona fide third party commits an error as a result of a violation of the preceding paragraph, the persons responsible for such violation shall be deemed to be personally liable towards such third party for the damage sustained by him/her as a consequence of such violation.
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