Economy Minister anticipates issuance of Commercial Companies Law by year end

Economy Minister anticipates issuance of Commercial Companies Law by year end

2013-07-22 17:13:28
WAM ABU DHABI, 22nd July, 2013 (WAM) — Sultan bin Saeed Al Mansouri, Minister of Economy and Chairman of the Board of Directors of the Securities and Commodities Authority, has stated that he anticipates the issuance of the new Commercial Companies Law in the second half of 2013.
This came while Mr. Al Mansouri was honouring Ayman Farouk Heikal, SCA legal Advisor, by giving him a Certificate of Appreciation in recognition of his outstanding efforts in the preparation of “Commercial Companies Law of 2013” in accordance with international corporate best practices, and his effective participation in the explanation and interpretation of the law during the meetings of the Technical Committee at the Ministry of Justice and the Ministerial Committee for legislation and the Federal National Council sessions.
The Minister stressed that the law represents a qualitative leap in the national economy, pointing out that the new law would support the economic wheel and support government guidelines with regard to economic diversification and transference to a knowledge-based economy in accordance with the government’s Vision 2021.
The Commercial Companies Law includes 12 sections addressing different types of companies.
WAM/ES/CM

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