Key Dubai International Financial Centre Laws Amended

UAE: New Labour Regulations Approved News developments

Key Dubai International Financial Centre Laws Amended

Mubasher, 8 March 2022: Dubai’s Ruler has issued DIFC Law No. 2/2022 regarding the Dubai International Financial Centre to incorporate amendments to some of its key laws.

The amendments approved affect the 2020 Data Protection Law, the 2019 Insolvency Law and the 2018 Trusts Law.

They also affect the 2017 Electronic Transactions Law, 2018 Common Reporting Standard Law and 2007 Strata Title Law.

The amendments also affect the rules of interpretation for various DIFC laws.

The amendments include clarifying the process of judicial legislation to individuals so it is more in line with international practice, especially in light of recent rulings in Europe regarding the rights of data subjects.

The amendments also set out better conditions for the legal accountability of controllers and data processors in which the privacy of individuals may be affected by repeated attempts and requests to access their data. For full story, click here.

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Benjamin Filaferro