1- A person, whether individually or with the Related Parties may not increase his ownership more than 10% or double this Ratio of the issued and paid up share capital of the company or any Ratio leading to the control over the company without obtaining the approval of the Authority.

2- Subject to the Ratio mentioned in the previous clause, if any person wishes to increase his ownership more than 5% and not exceeding 10% of the issued and paid up capital, he shall notify the Insurance Authority within fifteen days from the date of ownership.

3- Exception from the provisions of this Article, with regards to obtaining prior consent in the event of increasing the person’s ownership ratios more than the ratios referred to herein or any ratio that leads to controlling the company, is by inheritance or bequest.