Clifford Chance

The New UAE Commercial Companies Law

30 May 2013

According to an announcement issued on 28 May 2013, the revised form of the UAE Commercial Companies Law (the "New CCL") has been approved by the UAE Federal National Council (the "FNC"). It is now widely anticipated that the New CCL will enter into full force in the final quarter of 2013.

The New CCL has been long awaited and whilst further legislative steps are needed before it comes into force, FNC approval marks the resolution of outstanding discussion points, a number of which have been under debate in the UAE for over a decade. As such, this is a significant step.

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