The first Law Update of 2024 is here, and our first focus of the year spotlights Healthcare and Lifesciences, a sector that is undergoing significant growth and development across the MENA region.
Our focus provides an insight into some of the most important regulatory updates across the region, such as the UAE’s groundbreaking law on the use of human genome, Kuwait’s resolution on nuclear and radioactive materials, the new regulations for healthcare services in Qatar, Egypt’s healthcare regulatory framework, and the impact of the Saudi Civil Transactions Law on the healthcare and life sciences sector … and there is so much more!
Beyond the healthcare pages our lawyers share with you multi-sector insights where you will discover articles on Dubai’s DIFC regulatory framework for startups, Bahrain’s commercial agencies law, and we also shed light on Kuwaiti civil code and the advantages of setting up a joint stock company in Saudi Arabia.Read the full edition
Annual General Meeting season is underway in Oman and the Capital Market Authority of Oman has responded to the restrictions brought about by social distancing in the light of COVID-19 with a defining set of rules to assist public joint stock companies and investment funds in holding general meetings “virtually”.
The rules are set out in the Capital Market Authority’s Decision number E/25/2020 (“Rules”) and the key themes are stated below:
The Rules make clear that voting electronically is treated in the same way as being personally present, the latter of which is still available to those who wish to be physically present at the meeting. The effect of this is that votes that are cast electronically remain binding on the company. The voting platform will be provided by the Muscat Clearing and Depository Company which will manage the calculation of votes in respect of each agenda item.
All public joint stock companies must implement the electronic voting platform for their upcoming annual general meeting and shareholders will need to ensure that their details registered with the Muscat Clearing and Depository Company are accurate to ensure that they are able to access the electronic portal efficiently.
Al Tamimi & Company’s market leading corporate commercial practice in Oman is available to act as legal representative at your general meetings, as required by the Capital Market Authority rules and regulations. We would be pleased to provide further guidance on the electronic platform that has been implemented by the Muscat Clearing and Depository Company.