The Capital Markets Board ("CMB") issued the communiqué on Principles Regarding Excluding Companies from the Scope of the Capital Markets Law and Trading of Shares on the Stock Exchange (the “Communiqué”) on 30 December 2013 and repealed the previous communiqué. With the Communiqué, the secondary legislation is aligned with the provisions introduced by the Capital Markets Law (the "Law") and the provisions regulated under the repealed communiqués are simplified.