Wednesday, July 17, 2013

Important Updates - Civil Transactions Law

On the 6th of May 2013, RD 29/2013 promulgated the Civil Transactions Law (the ”Civil Code”), which now governs almost every aspect of Omani day-to-day transactions. The Civil Code is the base plate of Omani Civil Law and its provisions will apply both where there is no specific law to the contrary, and where specific legislation is silent on the matter in question. However, where the Civil Code does not cover certain matters, the Omani courts are directed to apply the rules and principles of Islamic Jurisprudence (Fiqh) in their judgments.

The Civil Code will come into force three months after it has been issued, i.e., the 6th of August 2013. It is composed of 1086 Articles making it the largest piece of Omani Legislation to date. The Civil Code has four main chapters (or Books) comprised of Personal Rights and Obligations; Nominate Contracts; Rights in Rem and Personal Guarantees and Insurances in Kind.

We are currently in the process of analyzing the Civil Code; please feel free to contact us for any inquiries or further information on this matter.