The final Law Update of 2022 is here, and it’s packed full of articles. The double edition features two focus areas, first is a spotlight on Energy and Resources and second we feature a collection of articles on Transport and Logistics. The developments occurring in these sectors in the MENA region are unprecedented and our lawyers cover vast themes for you.
The Energy and Resources focus features topics such as diversifying energy resources, solar PV, mining in the Middle East, renewable energy and green hydrogen. From a transport perspective, we draw attention to the Bahrain metro project, discuss the challenges and remedies associated with the repossession of an aircraft, and there is advice on what to consider should a party vary the terms of a shipping contract.
This edition navigates you through updates from across jurisdictions such as, Oman, Jordan, Saudi Arabia, Egypt, Iraq, Qatar, and the UAE. Each article is timely and provides insights into legal issues and cases that are affecting these sectors across the region.Read the full edition
The Dubai Multi Commodities Centre (“DMCC”) has issued new Companies Regulations 2020 (“New Regulations”), along with Employment Rules, Licensing Rules, Officers Rules, Community Regulations and Health, Safety And Environment Regulations which came into effect on 2 January 2020.
The New Regulations require existing DMCC companies to undertake certain actions in order to comply whilst offering them new opportunities for their company structure. The New Regulations also make DMCC even more appealing to small and medium-sized private companies or investors.
The New Regulations replace the DMCC Company Regulations 2003 and rules and regulations issued thereunder (“2003 Regulations”).
There are a number of significant differences between the New Regulations and the 2003 Regulations. The New Regulations:
The New Regulations apply to all entities currently operating in the DMCC and are of particular interest to those who wish to take advantage of the introductions made in order to re-examine the structure of their companies, as well as those who are considering operating in the Free Zone. These include small and medium-sized private companies or investors currently exploring the option of operating in DMCC.
DMCC mandatorily requires existing companies to undertake the following actions in order to comply with the New Regulations:
Our team would be delighted to assist you with the below: