Consultation papers of proposed regulations
The Dubai International Financial Centre Authority ("DIFC Authority") may issue regulations and submit proposed laws to the President, under Articles 6(4)(c) - (e) of the DIFC Law, No 9 of 2004 (the "Law") that fall within the jurisdiction of the DIFC Authority.
The Law requires the DIFC Authority to undertake a process of public consultation on such draft legislation. This involves publishing a consultation paper containing the proposed draft legislation, accompanied by explanatory text and a statement of the substance and purpose of the material provisions of the draft legislation.
The DIFC Authority will publish all consultation papers under this section. Any previous consultation papers can be viewed under past consultation papers. The DIFC Authority values all comments received on draft legislation and will endeavour to take all comments received into account when issuing legislation.
THE FOLLOWING LEGISLATIVE PROPOSAL HAS BEEN POSTED FOR 90 DAYS OF PUBLIC CONSULTATION.
- Consultation Paper No. 1, March 2017
- The legislative proposal is contained in Annex A
- The Companies Law, DIFC Law No. 2 of 2009 (“Current Law”) is at Annex B
- A comparison of the Current Law and the legislative proposal is at Annex C
- A roadmap of the proposed changes is at Annex D
- A table of comments to provide your views and comments on the Consultation Paper is at Annex E.
The deadline for providing comments on the proposal is by close of business on 19 June 2017.
Comments using the table of comments provided (Annex E) should be addressed to firstname.lastname@example.org