الـتـنـظـيـم الـقانـوني لـحـق الأولــويـة في أكـتـتـاب الأسـهـم ( دراســة مــقــارنــة )

Rp-The Legal Regulation of the Priority Right to Subscribe to Shares "A Comparative Study.pdf

Conclusion
The application of the priority right to subscribe to shares in Iraq in particular is the ideal model for the promotion of capital companies, as these companies are based on collecting capital to carry out major projects, because they are based on financial consideration. The responsibility of each shareholder is limited to the amount of shares he owns, and accordingly this right arises when the company increases its capital, in response to certain circumstances in which it may need large financial liquidity to achieve the goal for which it was established, or perhaps because of the loss it suffers, and in fact it does not It can only achieve this by searching for internal financing at the beginning, and then external financing if it is not available. This requires the company to issue securities (financing instruments), which have a major role in trading. As it works on the eligibility for subscription that depends on the new shares offered, which is relied upon to increase the capital, and there is no doubt that these papers will be available and have an acquired right for all shareholders whose data and names have been recorded in the company’s records until the maturity date. Thus, it gives the right to each holder of the eligibility to subscribe to the new shares. However, despite the importance that characterizes this right as priority, there is no legal legislation specific to it. This calls for careful legislative attention in this area. This is done by setting legal provisions and rules within a sound legislative framework that governs it, and then regulating the controls to be exercised by the shareholder who subscribed to the shares issued by the company when increasing the capital, as it is the competent authority for these grants. In addition, the absence of the legislative system related to this right necessarily leads to the application of general rules to this type of right known to commercial activity in the field of providing priority for subscription to shares and adequate legislative treatment to regulate this right.
Accordingly, and for this importance that characterizes the right of priority in subscribing to shares, we have dealt with (the legal regulation of the priority right in subscribing to shares – a comparative study) as a topic for our dissertation to discuss its possible aspects, hoping to be informed as much as possible, by examining its provisions from the moment it was granted through its implementation until the time of its disposal or waiver about him.