or a bankrupt by court order or; (2) the business of the originator has been liquidated. Clause 7. In case of an offer for sale of an insured sukuk, the regulations prescribed under the Notification of
matters shall be deemed prohibited characteristics in Group 1: (1) being under receivership by court order or being a bankrupt; (2) being an incompetent or quasi-incompetent person; (3) those persons whom
being a bankrupt; (2) being an incompetent or quasi-incompetent person; (3) [i] being accused by the SEC Office or being prosecuted as a result of such accusation or [ii] having been imprisoned by the
becoming insolvent as a prerequisite. After a debtor has defaulted on credit obligations, he/she may submit a request to the court for proceeding with reorganization. This change provides a greater
subject to the court’s receiving order or declared by the court as insolvent entity; (2) the issuer is under a liquidation process for dissolution; (3) any other case approved by the SEC Office. Clause 32
) Category I: Prohibited Characteristics: 1. being a person put under receivership, or being bankrupt, incompetent, or quasi-incompetent by a court’s order; 2. being a person under prohibition by the Stock
bankrupt; (3) having been imprisoned by the judgment of a court which is final, regardless of whether the sentence has been suspended, except for the offences committed through negligence or minor offences
competence, for instance, being an insolvent person, incompetent or quasi-incompetent person; (2) having or plausibly having any of the following behaviors. In this regard, the SEC Office would deliberate