Federal Law No. (2) concerning Commercial Companies (CCL), 2015

United Arab Emirates Current 2015

The stated objective of the New Commercial Companies Law (CCL) is to continue the UAE’s development into a global standard market and business environment. It aims to raise the level of good corporate governance, protection of shareholders and level of social responsibility of companies. Notable features of the New CCL include the recognition of the concept of holding companies, procedures for pledging shares, expert valuation of shares in-kind and the requirement to rotate auditors (for Public Joint Stock Companies) every three years.

Scope

General sustainability/ESG/non-financial

Industry sectors covered by the instrument

All/none specified

Organizations covered by the instrument

All organizations

Issuer type

Finance/Treasury

Type of instrument

Legislation

Mandatory or voluntary

Mandatory

The geographical scope

National/federal

Project Partners