Corporate Governance Code for Joint-Stock Companies, 2007

United Arab Emirates Upcoming 2007

The Code applies to all the joint-stock Companies established in the UAE, the companies listed in the Market and the Board of Directors of such companies. It requires companies to issue a Governance Report, which is described as an annual report of Corporate Governance practices signed by the Chairman of the Board of Directors and submitted to the Authority on annual basis (Article 14). A Governance Report Form is included in the document to guide disclosure. It provides for reporting on compliance with the governance principles, as well as other matters such as composition of the Board, executive remuneration and activities of the Audit Committee.

Scope

Governance

Industry sectors covered by the instrument

All/none specified

Organizations covered by the instrument

All listed companies

Issuer type

Financial Regulators

Type of instrument

Code of conduct or guideline

Mandatory or voluntary

Mandatory

The geographical scope

International/regional (eg. EU)

Project Partners