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Lexis Middle East Law Alert: July – August 2023 Edition

29/08/202329/08/2023
by Tanya Jain

Presenting the latest July-August edition of our complimentary law magazine, the Lexis Middle East – Law Alert! Keep yourself informed about the most recent legal, financial, and fiscal advancements, as well as trending subjects in the MENA region.

In this issue, we delve into the reasons behind the necessary amendments to Saudi Arabia’s Civil Transactions Law and its potential implications. We also cover recent legal and tax updates, regulations, and much more. Stay in the loop with our comprehensive insights.

Feature: A More Civil Approach

Explore the Saudi Civil Transactions Law with an in-depth analysis by Professor Najib Hage-Chahine from Hage-Chahine Law Firm. Gain an understanding of how this new law influences relationships between individuals and their property rights.

Feature: From Ship to Shore

Dive into the new Oman Maritime Law, as explained by Abdullah Hassan Khan and Shehreyar Khan of MAR Law. Discover the significant changes it brings to the legal framework governing the maritime sector and disputes.

Profile: An Effective Approach to Litigation

Meet Judge Ahmed Bakry Abdalla Hassan Elsayed, the Head of the Commercial Circuit in the Abu Dhabi Commercial Court. Gain insights into his approach to successful litigation and the role he plays in the legal landscape.

Dispute Resolution Focus

Shireen Fazal, Partner at Al Aidarous, explains the critical importance of selecting the right dispute resolution method, particularly in construction disputes.

Movers & Shakers

Check out our latest round-up of the top movers and shakers from the world of legal appointments and promotions, brought to you by Jameson Legal. Who is been promoted, who is been appointed, and who is moving on?

Dispute Resolution Focus: Cases and Updates

Hashem AlAidarous, Partner at Al Aidarous, qualified in three jurisdictions, explains
the differences between dispute resolution in the UAE, the US, and Australia.

Contract Watch: Job Sharing Contracts

Explore contracts with Yulia Kasiyanova, Associate Partner at SCHLÜTER GRAF Legal Consultants, and gain a deep understanding of this legal aspect.

Law Monitor

Delve into the Kuwaiti Law on Issuing Instructions for Electronic Payment of Funds, staying informed about the evolving legal landscape.

Thanks to Jameson Legal for supporting individuals and businesses, and Al Aidarous for keeping us updated on dispute resolution cases.

Lexis Middle East Law Alert_July August 2023

Explore the past editions of the Lexis® Middle East Law Alert and stay up-to-date with the latest news! Click the links below for instant access to older editions.

Lexis Middle East Law Alert January-February 2023

Lexis Middle East Law Alert March-April 2023

Lexis Middle East Law Alert_May June 2023

Tax and Finance Round-Up

Stay ahead with the UAE Corporate Income Tax Freezone clarifications, covering recent key tax and finance developments in the region.

Legal Round-Up

Get the latest insights into arbitration submission agreements in Saudi Arabia, covering recent key legal developments across the region.

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Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

News developments

Abu Dhabi: Punitive and Correctional Establishments Law Issued

24/08/202324/08/2023
by Tanya Jain

Khaleej Times (United Arab Emirates), 23 August 2023: Abu Dhabi’s Ruler has issued a law regarding punitive and correctional establishments in the Emirate. It will come into force on 1 January 2024 and is aimed at supporting rehabilitation in the Emirate.

It will transfer responsibility for managing punitive and correctional establishments, as well as juvenile facilities in Abu Dhabi, from the Abu Dhabi Police General Headquarters to the Abu Dhabi Judicial Department.

For more news and content, try Lexis Middle East. Click on lexis.ae/demo to begin your free trial of Lexis® Middle East platform.

You can also explore the legal landscape by subscribing to our Weekly Newsletter.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

News developments

UAE: Comprehensive Economic Partnership Agreement with Indonesia to be Implemented Next Month

23/08/202323/08/2023
by Tanya Jain

Khaleej Times, 17 August 2023: Indonesia’s ambassador to the UAE has announced the country’s Comprehensive Economic Partnership Agreement with the UAE will be implemented next month.

He made the announcement to mark Indonesia’s 78th Independence Day.

The agreement was signed in July 2022 and is expected to increase annual bilateral trade to $10 billion within five years and could increase the total value of trade in services between the two countries to $630 million by 2030.

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News developments

Sharjah: Mechanism for Renting Storage in Industrial Zones Should be Introduced

23/08/202323/08/2023
by Tanya Jain

Sharjah24, 17 August 2023: Sharjah’s Ruler has instructed the relevant authorities in the Emirate to work together to set up a mechanism to enable warehouse owners in the industrial areas in the country to rent them out.

The owners of these warehouses must be allowed to obtain a licence for their storage facilities. This should be the case even where there is no power connection yet.

Read the full story here.

For more news and content, try Lexis Middle East. Click on lexis.ae/demo to begin your free trial of Lexis® Middle East platform.

You can also explore the legal landscape by subscribing to our Weekly Newsletter.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

News developments

Dubai: Virtual Asset Regulatory Authority Signs Cooperation Agreement with the Department of Economy and Tourism

23/08/202323/08/2023
by Tanya Jain

Gulf News, 17 August 2023: Dubai’s Virtual Asset Regulatory Authority has signed a cooperation agreement with the Emirate’s Economy and Tourism Department.

The agreement outlines a framework for cooperation to deliver effective and synchronised virtual asset market assurance across the Emirate. This encompasses customer care and complaints, business on-site inspection and enforcement; business Virtual Asset Service Provider registration and licensing, education, training and knowledge sharing.

Under the agreement, the Department will add the Authority’s activities to its system for all virtual asset license issuing. The Department will be responsible for inspections and supporting the Authority with in situ enforcement. This will include imposing penalties such as suspensions or revocations in cases of proven negligence or non-compliance with the Authority’s rules.

It can also handle business as usual application renewals for virtual asset service providers who meet Authority requirements in full.

The Authority will be included in the Department’s e-permit system, which will enable one-touch point approvals on virtual asset events. Elsewhere the Dubai Corporation for Consumers Protections & Fair Trade Department within the Economy and Tourism Department will be upgraded with specialist virtual asset know-how, which will support the provision of a transparent and seamless customer experience.

The two entities will also cooperate on campaigns to raise consumer protection awareness about virtual assets. This will include providing consumer protection information and advice. The Department will also publish relevant notices and warnings, including penalty notices and consumer protection advisories on its websites.

The agreement has been signed following the issuing of new guidelines, which require entities qualifying for a regulated Full Market Product license to transition to an Authority-regulated regime by 31 August.

For more news and content, try Lexis Middle East. Click on lexis.ae/demo to begin your free trial of Lexis® Middle East platform.

You can also explore the legal landscape by subscribing to our Weekly Newsletter.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

News developments

UAE: New Regulations for Seventh Freedom of Air Transport Rights Issued

16/08/202316/08/2023
by Tanya Jain

The UAE General Authority of Civil Aviation (GCAA) has announced new regulations on the exercise of the seventh freedom of air transport rights have been issued.

The seventh freedom of air transport rights is a privilege granted by one country to another to allow its airlines to operate air services between the granting country’s territory and any third country without the need for the flight to pass through the territory of the operating airline’s country.

This freedom gives airlines unprecedented flexibility.

It allows them to increase their connectivity between destinations and boost global connectivity. The new regulations will also provide this freedom to UAE airlines which want to take advantage of it in foreign countries with which the UAE has air services agreements that include the seventh freedom of air rights.

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News developments

Dubai: DIFC issues First of its Kind Data Protection Adequacy Decision

16/08/202316/08/2023
by Tanya Jain

The DIFC Commissioner of Data Protection has issued a first-of-its-kind adequacy decision on the California Consumer Privacy Act 2018.

The California Consumer Privacy Act 2018 was amended by the California Privacy Rights Act 2020 which came into force on 1 January 2023. The adequacy decision establishes a determination of the amended law’s equivalence to the DIFC Data Protection Law, DIFC Law No. 5/2020.

It facilitates personal data transfers between DIFC and California-based entities in accordance with DIFC Law No. 5/2020, without having to apply additional contractual measures. It also sets a first-time precedent for building similar relationships with various other US states.

The California Privacy Protection Agency (CPPA) has been recognised as an international organisation ensuring adequate data protection for purposes of personal data processed and transferred by the entities that it supervises.

The amended law provides consumers control and protection over personal data collected by businesses with built-in methods for confining data collection and processing what is fair and lawful, and necessary, in adherence with global data protection standards as well as the Commissioner’s objectives in administering DIFC Law No. 5/2020.

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News developments

Abu Dhabi: ADGM Implements Amendments to Financial Regulatory Framework

15/08/202315/08/2023
by Tanya Jain

15 August 2023: Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority has announced that it has implemented amendments to its regulatory framework in relation to client classification, client assets, and certain conduct requirements relating to Investment Business.

The amendments affect client classification, marketing materials, the disclosure of fees and charges to Retail Clients, the treatment of Client Assets, and the Regulated Activity of Providing Custody.

They support the Market’s ongoing commitment to align with international best practices and provide a fair, well-regulated, and internationally-recognised platform that meets the needs of its markets. Among other amendments, the net asset requirement for existing Professional Clients, where the continuing eligibility of those clients must be assessed prior to providing new types of services or products has been increased.

The amendments affect the Financial Services and Markets Regulations and the Authority’s Conduct of Business, General and Glossary Rulebooks and have immediate effect.

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News developments

UAE: Timeframe to Request Permission to Sell Mortgaged Property Explained

09/08/202309/08/2023
by Tanya Jain

Alkhaleej, 6 August 2023: Federal Decree-Law No. 50/2022 (the new Commercial Transactions Law), which came into force at the beginning of 2023, provides detail on commercial mortgages.

The law explains that a commercial mortgage is one that is over a movable asset as security for a commercial debt.

The law clarifies that if a debtor does not pay the debt secured by the mortgage on the due date, the creditor may, after seven days from the date of warning the debtor to pay, request the court to authorise them to sell the mortgaged property. The request is considered urgently, and the court determines the method of sale.

For the full story, click here.

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News developments

Sharjah: Authorities Issue Reminder on Water Cooler Rules

09/08/202309/08/2023
by Tanya Jain

Khaleej Times, 5 August 2023: Authorities in Sharjah, have reminded the public about the regulations on water coolers, and the requirements to ensure water is not contaminated and to prevent electrical accidents.

Khalfan Rashid Al Mughni, head of operations and the municipal inspection department at the Municipality of Khor Fakkan, stated water coolers should be placed within the boundaries of a house or building compound. Only the water pipe and faucet are allowed to be exposed outside.

The authorities have no objection to people installing water coolers. However, it is forbidden to place water coolers entirely outside the property.

Where this is the case risk of contamination is higher.

The Al Dhafra region Municipality has also launched a campaign called ‘Registering Public Water Coolers or Sabil is the Arabic word for water coolers)

The municipality has launched an electronic platform called ‘Tamm’ which can be used to obtain the required permit for installing water coolers. They have also inspected around 570 water coolers in various neighbourhoods. This follows a number of past incidents where people had been injured including in electrical accidents for users which happened due to improper installation and maintenance of water coolers.

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