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.
Industry sectors covered by the instrument
Organizations covered by the instrument
Type of instrument
Mandatory or voluntary
The geographical scope