UAE Archives - Page 51 of 94 - LexisNexis Middle East

The latest edition of the Lexis® Middle East – HR Alert is out now!

11/10/202229/04/2024
by Benjamin Filaferro

We are pleased to share the latest edition of our HR magazine, the Lexis® Middle East – HR Alert!

The HR Alert is a complimentary magazine that updates the latest labour and employment law developments and cases and advises on region-specific HR policies and templates.

It will also include interviews with leading regional HR professionals and guidance on the latest industry trends. In this edition:

When the Heat is on!

With the Qatar Ministry of Labour and Public Health Department issuing new guidelines on heat stress, Emma Higham and Corrine Sobers of Clyde & Co explain what employers in Qatar need to do to comply with the law on working in the heat.

Don’t Bank on It

Damian Burleigh of Acuity Knowledge Partners examines outsourcing in the Middle East and how it affects regional banks.

Law Changes: Whose Right Is It Anyway?

Who has copyright rights when an employer/employee relationship or employer/freelancer is involved? Noor Hasan of Gowling WLG examines the fundamental rules.

Saudisation

Nadia Malaika, HR Director for Saudia Dairy & Foodstuff Company (SADAFCO), talks about the importance of Saudisation in their sector and its implementation.

On the other hand, Anas A Akel of Hourani & Partners talks about specific Saudisation challenges and opportunities in the manufacturing sector.

Social Media Policies

Rana Moustafa of D&C Legal Services shares pointers for getting a well-drafted social media policy in place to protect employers and ensure employees better interact with these platforms.

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

LexisNexis Middle East HR Alert – September 2022

News developments

UAE: Penalties for Faking Official Metallic Signs Explained

10/10/202210/10/2022
by Benjamin Filaferro

Al Bayan, 6 October 2022: The UAE’s Public Prosecution has explained the penalties imposed on those who fake or counterfeit metallic signs issued by Government departments in implementing laws.

Under Article 24 of Federal Decree-Law No. 31/2021, anyone who counterfeits or fakes a metallic plate or any other sign issued by the Government department in implementing the laws and regulations will be jailed for a year and fined.

The same penalties will be imposed on those who these signs while being aware they are counterfeit or fake.

For the full story, click here.

To view more news items and other available content, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East trial lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

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

News developments

The MENA Business Law Review No. 03/2022 is out!

06/10/202211/10/2022
by Benjamin Filaferro

We are pleased to share the third edition of the MENA Business Law Review, the definitive business law reference in the Middle East and North Africa! In this edition:

ARBITRATION: Outcome-Related Fees Structures for Arbitration the UAE by Dr Tariq Mahmood FCIArb (33 Bedford Row), James Ng (Zhong Lun Law Firm) and Usama Munir (Schleuter Graf)

We explore the basic features and types of outcome-related fee structures (ORFS) for dispute funding and provide a detailed analysis of the UAE legal landscape of the acceptability of ORFS in arbitration proceedings.

LITIGATION: Comment on IPGL General Trading v. Horton Holding by Anson Cheung, Outer Temple Chambers

We share comments on this case, which raised interesting issues regarding the application and scope of the Duomatic principle to acts assented to by shareholders, with far-reaching practical consequences for a common practice in the UAE.

COMPANIES: A Guide to Saudi Arabia’s New Companies Law by Dr Qaisar Hamed Metawea, Lamisse Bajunaid, and Aziza Al Abbasi (Dr Qaisar Metawea Law Firm)

In this article, we provide a guide to the main areas of reform in Saudi Arabia’s new Companies Law concerning commercial and non-profit entities and analyse the impact of these reforms.

The New Regulation of Musataha Agreements over Commercial Land in the Emirate of Dubai by Jeremy Scott, Addleshaw Goddard (Middle East) LLP

In this article, we look in more detail at musataha arrangements in Dubai and assess the changes made regarding granting musataha rights over commercial land by government or government-related entities against its stated objectives.

CORPORATE GOVERNANCE: Solution to Executive Succession in UAE Family Businesses: The Board of Directors by David Chekroun (ESCP Business School), Megha Bansal (Deloitte) and Tanya Bansal (Abu Dhabi Department of Economic Development (ADDED))

This article assesses the rules and regulations regarding the corporate governance of family-owned businesses in the UAE, including the composition of the Board and its role in succession planning undertaken by the Nomination and Remuneration Committee. It also sets forth a series of recommendations on empowering the Board to facilitate a smooth transition of power amongst family businesses.

CYBERSECURITY: Financial Crime Challenges as We Enter Internet 3.0 by Karl Massi, Charles Russell Speechlys

The developing “crypto-economy” will become a significant part of the real economy in a very short time. This new digital mechanism for assigning, buying, selling and transferring assets brings with it novel issues regarding financial crime risk and security while mirroring some of the same vulnerabilities of the real economy. This article will explore some of the critical areas and how the UAE approaches them.

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

LexisNexis MENA Business Law Review No. 03_2022

Have you read the previous editions of the MENA Business Law Review? Click the links below to access and read previous editions.

LexisNexis MENA Business Law Review No. 02_2022

LexisNexis MENA Business Law Review No. 01_2022

News developments

UAE: Cooperatives Decree-Law Issued

28/09/202228/09/2022
by Benjamin Filaferro

Al Bayan, 27 September 2022: The UAE’s President has issued Federal Decree-Law No. 6/2022 regarding cooperatives.

Its provisions will apply to established or existing cooperatives when the Decree-Law is issued.

The Decree-Law aims to improve the role of cooperatives in achieving sustainable development, regulate the licensing and work of the cooperative sector and its activities in the country and enable community members to establish cooperatives.

Under the Decree-Law, cooperatives can allocate a percentage of their annual profits or accumulated profits to social responsibility after the approval of the competent authority and the issuance of a decision by the General Assembly.

The cooperative must also disclose its profits on its website.

The Cabinet will issue the Implementing Regulations to the Law based on a Ministerial proposal within six months from the implementation date.

For the full story, click here.

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

News developments

UAE: Penalties for Keeping Lost Property Clarified

26/09/202226/09/2022
by Benjamin Filaferro

Khaleej Times (United Arab Emirates), 22 September 2022: The UAE’s Public Prosecution has clarified the penalties imposed on individuals who find lost property and keep it for themselves.

Under Article 454 of Federal Decree-Law No. 31/2021, they will be jailed for up to two years or fined at least 20,000 AED.

Those who find lost and/or abandoned property must give the property or money to the police within 48 hours and may not take ownership of them.

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

News developments

UAE: Fines for Illegal Stay Clarified

26/09/202226/09/2022
by Benjamin Filaferro

Alkhaleej, 23 September 2022: The UAE authorities have clarified the fines imposed on those who stay illegally in the country.

Under the Implementing Regulations to the Law on the Entry and Residence of Foreigners, offenders will be fined 100 AED each day they stay illegally in the country.

In some cases, the fines will be imposed from the day following the expiry of the period in which the individual is permitted to reside in the country after their residence permit is cancelled or has expired.

A decision will be issued by the Chairman of the relevant Authority for each category of residents to determine those periods, provided they do not exceed six months from the date of cancellation or expiry of the residence permit in total.

For the full story, click here.

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

News developments

UAE to Enforce Rulings by UK Courts

23/09/202223/09/2022
by Benjamin Filaferro

Khaleej Times (United Arab Emirates), 21 September 2022: The UAE’s Justice Ministry has issued a Decision to ensure judgments issued by English courts are enforced in the country.

Under the Decision, courts in the UAE have to take all of the legal steps required to acknowledge and enforce orders by English courts.

The Decision covers financial cases and asset division disputes between couples or family members.

Before being submitted to a judge at one of the country’s civil courts, an English court ruling must be final and irrevocable.

UK rulings must not conflict with a UAE court judgment.

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

News developments

UAE: Penalties for Companies Failing to Comply with Changing Trade Name Rules Clarified

21/09/202221/09/2022
by Benjamin Filaferro

Alkhaleej, 19 September 2022: The penalties for companies failing to comply with changing trade name rules have been clarified.

Under Cabinet Decision No. 78/2022 related to the list of administrative sanctions for acts committed in violation of Federal Decree-Law No. 32/2021 regarding commercial companies, penalties will be imposed on companies and institutions operating in the UAE in the event of non-compliance with changing their trade name.

Violating companies and institutions will be fined 500 AED a month and up to 10,000 AED annually.

Limited liability companies will be fined 500 AED a month and up to 5,000 AED annually.

Private and public joint stock companies will be fined 1,000 AED a month and up to 10,000 AED annually.

The fine will be calculated after the expiration of 30 working days from the date of notification of the decision.

For the full story, click here.

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

News developments

UAE: Judgments From Great Britain and Northern Ireland Can be Enforced

19/09/202219/09/2022
by Benjamin Filaferro

The UAE’s Justice Ministry has announced that judgements issued in Great Britain and Northern Ireland can be enforced in the UAE.

They can be in line with the reciprocity principle in the Treaty between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates on Judicial Assistance in Civil and Commercial Matters.

This principle is contained in Article 85 of Cabinet Decision No. 57/2018.

The move follows the English Courts’ enforcement of a Dubai judgement in the case of Lenkor Energy Trading DMCC v Puri (2020) EWHC 75 (QB) (Lenkor).

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

News developments

Abu Dhabi Global Market Approves Amendments to Insolvency Practitioner Framework

14/09/202214/09/2022
by Benjamin Filaferro

The Registration Authority of Abu Dhabi’s Global Market has approved amendments to its insolvency practitioner framework.

The amendments will allow more insolvency practitioners to be active within the IFC. They will also improve the role of the Registration Authority in monitoring and regulating these practitioners and provide more protection for insolvent parties and creditors.

The amendments have been approved to reinforce the Global Market’s alignment with international best practices.

Previously practitioners had to obtain a licence and have a registered office address in the Global Market.

The new rules replace this requirement and allow eligible individuals to follow a straightforward registration mandate in the insolvency practitioners’ Register maintained by the Registrar. In addition, there is no annual renewal requirement. However, a registered insolvency practitioner must provide the Registrar with a yearly confirmation statement, confirming details of any appointments under the Insolvency Regulations 2022 and compliance with the Insolvency Practitioner Rules.

The amendments will significantly reduce the administrative burden on insolvency practitioners who want to be registered in the Global Market and encourage an increase in the number of registered practitioners.

The new Insolvency Practitioner Rules contain several registration requirements. These include being in continued employment with, or a member, director, or partner of a firm or corporate registered in or outside the Global Market, holding a membership with a recognised professional body, or satisfying specific ‘fit and proper’ criteria.

They must also provide evidence of insolvency experience.

Registered insolvency practitioners must obtain a security bond before any appointment under the IFC’s Insolvency Regulations.

Practitioners appointed as a liquidator are exempted from this requirement under Section 178 of the Insolvency Regulations.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

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