Sunday, August 30, 2015

Legal Updates

RD 28/2015: Promulgating the Law on Granting Concession to Develop, Manage and Operate Duqm Port

A new Royal Decree has been issued in July, Royal Decree No. 28/2015 promulgating the Law on granting concession to develop, manage and operate Duqm Port and endorsing its related agreements.

Additionally, the Duqm Special Economic Zone Authority has issued two decisions:

Decision No. 326/2015 issuing the regulations of the environmental permits in Duqm Special Economic Zone; and
Decision No. 327/2015 issuing the regulation of the utilization of state-owned lands in Duqm Special Economic Zone.

Amendment to Public Authority Consumer Protection Decision No. 12/2011

In July 2015, the Public Authority for Consumer Protection issued a Decision No. 388/2015 (the “Decision”) which amends Decision No. 12/2011 on the Prohibition to Raise the Prices of Commodities and Services. The Decision provides that the any person who violates the provisions of the Consumer Protection Law pursuant to Royal Decree 66/2014 (the “Law”), shall be punishable by a fine in the region of RO 50 – RO 1,000. The offender will pay double for a repeated offence. If the offender continues to violate the provisions of the Law, a fine of RO 50 for each day the violation persists will be imposed. However, this is subject to a total fine of RO 2,000.

RD 32/2015: Promulgating the System (Law) on the Public Establishment for Industrial Estates

The Public Establishment for Industrial Estates (the “PEIE”) was established pursuant to Royal Decree No. 32/2015, issued in July 2015. The role of the  PEIE is to operate, manage and supervise the area of land (estate) designated for the establishment of investment activity. The estates the PEIE undertakes to manage are: existing estates in Rasil, Sur, Sohar, Raysut, Braimi, Nizwa, Samel and Ibri; the Muscat Knowledge Oasis; Mazonia free zone; new estates to be established; and estates the PEIE is requested to manage by the council of ministers. Some of the powers the PEIE may exercise include, but are not limited to: issuing licences, approvals and certificates relating to investment activities inside the estates; leasing land and facilities located inside the estates; and determining usufruct rights for all or part of the estates’ land to investors. The PEIE will manage its responsibilities under the supervision of the Ministry of Commerce and Industry.