The Capital Market Authority announces the issuance of a CMA Board resolution numbered (7-1-2012) and dated 7/2/1433H corresponding to 1/1/2012 to impose a penalty of SR 50.000 ( Fifty Thousand Saudi Riyals)  on Basic Chemical Industries Co. (BCI) due to it’s violation of clause (B) of Article (14) of the Corporate Governance Regulations. The general assembly, based on a proposal by the Board of directors, did not issue the rules for selecting the members of the Audit committee, the duration of their membership and the committee’s work method.