United Arab Emirates: Recent Developments

United Arab Emirates: Recent Developments 175 UNITED ARAB EMIRATES: RECENT DEVELOPMENTS* COMMERCIAL COMPANIES LAW The 7 January, 1993 deadline for compliance with the Commercial Companies Law has passed, and no formal announcement of a further extension has been made. It is understood that substantial amendments to the Commercial Companies Law are under consideration. The Commercial Companies Law was reactivated and substantially amended by Federal Law No. 13 of 1988, which came into force on 8 January, 1989. Federal Law No. 13 of 1988 requires all companies in the UAE to register in accordance with the Commercial Companies Law. It also required all existing UAE companies to come into substantive compliance with the Commercial Companies Law during a two-year transition period, which could be extended for a further year by Ministerial Resolution. Such a Resolution was issued, extending the compliance deadline until 7 January, 1992. In January 1992, it was formally announced that the Cabinet had approved a Law granting a further one-year extension. This law, Federal Law No. 46 of 1992, was enacted and Gazetted in late 1992. By its terms, it granted a one-year extension beginning on 8 January, 1992 and authorised the Cabinet to grant an additional one-year extension. Specifically, Federal http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Arab Law Quarterly Brill

United Arab Emirates: Recent Developments

Arab Law Quarterly , Volume 8 (2): 175 – Jan 1, 1993

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Publisher
Brill
Copyright
© 1993 Koninklijke Brill NV, Leiden, The Netherlands
ISSN
0268-0556
eISSN
1573-0255
D.O.I.
10.1163/157302593X00078
Publisher site
See Article on Publisher Site

Abstract

175 UNITED ARAB EMIRATES: RECENT DEVELOPMENTS* COMMERCIAL COMPANIES LAW The 7 January, 1993 deadline for compliance with the Commercial Companies Law has passed, and no formal announcement of a further extension has been made. It is understood that substantial amendments to the Commercial Companies Law are under consideration. The Commercial Companies Law was reactivated and substantially amended by Federal Law No. 13 of 1988, which came into force on 8 January, 1989. Federal Law No. 13 of 1988 requires all companies in the UAE to register in accordance with the Commercial Companies Law. It also required all existing UAE companies to come into substantive compliance with the Commercial Companies Law during a two-year transition period, which could be extended for a further year by Ministerial Resolution. Such a Resolution was issued, extending the compliance deadline until 7 January, 1992. In January 1992, it was formally announced that the Cabinet had approved a Law granting a further one-year extension. This law, Federal Law No. 46 of 1992, was enacted and Gazetted in late 1992. By its terms, it granted a one-year extension beginning on 8 January, 1992 and authorised the Cabinet to grant an additional one-year extension. Specifically, Federal

Journal

Arab Law QuarterlyBrill

Published: Jan 1, 1993

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