Wednesday, October 29, 2014

Legal Updates

RD 49/14 establishes the Public Authority for Mining


On September 22, 2014, RD 49/14 established the Public Authority for Mining (“Authority”) and its system. The Authority shall be affiliated with the MOCI and shall act as a legal entity with full authority and eligibility to own, manage, and dispense fixed and movable funds. The Royal Decree is effective from the date of its issuance.


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Monday, October 27, 2014

How does Electronics Transactions Law impact Electronic Transactions in Oman?

Oman’s Electronic Transactions Law (promulgated by RD 69/08, as amended) (the “ETL”) governs electronic contractual agreements. The ETL shall apply to parties who agree to conduct their transactions electronically. Such consent by the parties is inferred from their conduct. Electronic transactions are contractual agreements that are “entered into or executed totally or partially through electronic records.”


This article briefly covers the fundamental principles of the ETL and how it may affect any contractual agreement entered into electronically.


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Thursday, October 23, 2014

What are the benefits of an excellent grade company?

Whilst registering a limited liability company (“LLC”) in Oman, clients often enquire about the upside of incorporating an LLC with higher capital and how does the grade specified by the MOCI benefit the LLC.


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Monday, October 13, 2014

The new Omani Nationality Law: How big is the departure from the old law?

The Sultanate of Oman recently issued a new Omani Nationality Law (RD 38/14) (“New Law”) which replaces the earlier Omani Nationality Regulatory Law promulgated by RD 3/83 (“Old Law”).


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Tuesday, October 7, 2014

Amendment to Insurance Company Law - What are the new regulatory requirements?

Royal Decree 39/14 issued on August 12, 2014 introduces new regulatory requirements for insurance companies (“Royal Decree”).


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