Under the Israeli Companies Law
, 5759-1999 and regulations promulgated thereunder (the "Israeli Companies Law
"), companies incorporated under the laws of Israel whose shares have been offered to the public in or outside of Israel, are required to appoint at least two statutory independent directors (the "external directors ") who meet certain Israeli statutory criteria of independence; such criteria are generally in line with the independence requirement under the 2014 UK Corporate Governance Code (the "Code ").
The workshop, which was attended by Dubai Chamber members, lawyers and legal consultants, investors, contract specialists, general managers and business owners, provided insights into the provisions of the new new Commercial Companies Law
while assessing its impact on companies operating in the country.
Jehad Kazim, director of legal services, Dubai Chamber, said: "The new UAE Commercial Companies Law
Members of the House voted for a change in the name of the draft law, which they said should be referred to as Commercial Companies Law
Mohammed Shael Al Sdi, CEO Business Registration and Licensing of the Department for Economic Development in Dubai (DED), told Gulf news: "A new UAE companies law
, meant to liberalise the country's economy, has been in the pipeline for several years and is awaiting cabinet approval.
Speaking at an event in Dubai Investments Park on Wednesday, Mansoori said, "The Companies Law
is almost done now, as we have said.
UAE Economy Minister Sultan bin Saeed al-Mansouri said in February that a new UAE companies law
could be introduced before the end of 2011.
The Companies Law
has been updated to include the registration requirements laid down by the DIFC Registrar of Companies.
Authorisation for the derivative acquisition of shares of treasury stock by the Company and its subsidiaries in accordance with article 75 and 1st additional provision of the Spanish Companies Law
Abu Dhabi -- The Institute of Chartered Accountants of India (ICAI) Abu Dhabi Chapter, hosted an Iftar for its members and guests, during which a panel discussion on "UAE Commercial Companies Law
and Recent Amendments" took place.
The Commercial Companies Law
(Law No 5 of 2002) deals with the issuance of bonds.
Summary: Companies law
part of broad measures to up competitiveness; Minister sees law as close at hand.
The special majority required under the Israeli Companies Law
for the approval of such resolution was obtained.
The Board has yet to decide whether it will approve payment of an additional interim dividend with a charge to these capital gains before the General Shareholders' Meeting, in accordance with the provisions of Article 216 of Spanish Companies Law
Summary: DUBAI -- The UAE's new companies law
is expected to be unveiled in the next quarter, Minister of Economy Sultan bin Saeed Al Mansouri told Khaleej Times on the sidelines of a conference in Dubai on Wednesday.